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Comparator Drug Sourcing Market Size, Share & Growth [2031]

Comparator Drug Sourcing Market

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Segments - by Vendor Type (Clinical Trial Supplies Vendors, Specialist Comparator Sourcing Vendors, and Networks /Consortia), End-user (Drug Manufacturers, CMO, Academic and Research Institute, and Others), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023 - 2031

HC-5063
4.8 Rating
164 Pages

05-09-2023
69 Reviews

Author :

Raksha Sharma

Fact-checked by :

Vineet Pandey

Editor :

Vishal Golekar

Report Description

Comparator Drug Sourcing Market Outlook

The Global Comparator Drug Sourcing Market was estimated at USD 1,160.2 Mn in 2022 and is anticipated to reach USD ~ 1,797.2 Mn by 2031, expanding at a CAGR of 5.2% during the forecast period.

Comparator drug sourcing is the process of acquiring reference or comparator drugs for use in clinical trials and research studies. These comparator drugs serve as essential reference points during clinical trials, enabling researchers to evaluate the safety and effectiveness of new drugs by comparing them to existing medications, placebos, or other reference point.

The process involves identifying, procuring, and supplying these comparator drugs to pharmaceutical companies, contract research organizations (CROs), and research institutions conducting clinical studies.

The process also ensures that the results accurately reflect the safety and efficacy of the new treatment being investigated. This market encompasses various stakeholders, including pharmaceutical companies, contract research organizations (CROs), and suppliers specializing in sourcing, manufacturing, and distributing comparator drugs. The comparator drug sourcing market plays a crucial role in ensuring the quality and reliability of clinical trial results, ultimately impacting the drug development process.

Macro-economic Factors

Healthcare Expenditure

Healthcare expenditure is a critical macroeconomic factor that significantly influences the global comparator drug sourcing market. It plays a central role in determining the resources available for clinical trials, research, and the procurement of comparator drugs.

Healthcare expenditure, whether from government budgets or private sources, directly impacts the funding available for clinical trials. High healthcare expenditure leads to the increased investment in healthcare research and development, including the conduct of clinical trials.

The level of healthcare expenditure influences the demand for comparator drugs. There is often a corresponding increase in the number and complexity of clinical trials, as healthcare spending grows. These trials require a high quantity and variety of comparator drugs, impacting the market for sourcing these drugs.

Economic Growth and Stability

Economic growth and stability influence various aspects of the pharmaceutical and clinical trial industries, ultimately affecting the demand for comparator drugs and the conditions under which they are sourced.

Economic growth often correlated with the increased investment in research and development, including clinical trials. Stable and growing economies tend to allocate increasing resources to healthcare and pharmaceutical innovation, leading to a high number of clinical trials.

Economic stability results in the high demand for innovative pharmaceuticals and therapies. Populations have high disposable incomes and improved access to healthcare, as economies grow, fostering interest in cutting-edge treatments. This, in turn, leads to a rise in clinical trials and the need for comparator drugs.

Comparator Drug Sourcing Market Dynamics

Market Driver- Increasing Number of Clinical Trials

Increasing number of clinical trials is driving the global comparator drug sourcing market. Pharmaceutical companies and research institutions are intensifying their efforts to develop drugs and therapies, thus boosting the number of clinical trials. These trials are essential for testing the safety and efficacy of potential medications.

Clinical trials cover a wide range of therapeutic areas, including cardiology, neurology, oncology, and infectious diseases, among others. Each of these areas requires specific comparator drugs for accurate assessments.

The number of registered clinical trials has increased significantly in recent years. According to WHO, as of May 2023, nearly 454 thousand clinical studies were registered globally. The number of clinical studies has increased significantly, as 2,119 clinical studies were registered in 2000.

Market Driver- Rising Drug Development

Rising drug development is driving the global comparator drug sourcing market. Many pharmaceutical companies focus on developing drugs and therapies, which is boosting the number of clinical trials. Regulatory authorities such as the FDA and EMA mandate that new drugs undergo rigorous testing in clinical trials before approval.

Comparator drugs are necessary to establish the comparative effectiveness of the new drug against existing treatments, ensuring compliance with regulatory standards. Spending on drug development and R&D have increased in the past two decades. In 2019, the pharmaceutical industry spent USD 83 billion dollars on R&D.

Adjusted for inflation, that amount is about 10 times what the industry spent per year in the 1980s. Between 2010 and 2019, the number of new drugs approved for sale increased by 60% as compared with the previous decade, with 59 new drugs approved in 2018.

Market Restraint- High Cost of Drug Development

Pharmaceutical companies and research institutions often operate under strict budgets for drug development. High cost of sourcing comparator drugs strains these budgets, potentially leading to cost-cutting measures that affect the sourcing process.

Cost of drug development totaled approximately one billion US dollars in the decade from 1990 to 1999; however, this expense has more than doubled in the years that have followed, reaching around 2.6 billion US dollars.

Challenges in the early stages of clinical trials, leading to high failure rates, boosted the research and development (R&D) costs. Members of the trade group PhRMA (Pharmaceutical Research and Manufacturers of America) spent approximately 83 billion US dollars on R&D in 2019.

Market Opportunity- Digitalization and Technological Advancements

Healthcare digitalization and technological advancements present significant opportunities in the global comparator drug sourcing market. Digital platforms and databases streamline the process of identifying, selecting, and sourcing comparator drugs, resulting in a fast and efficient process for pharmaceutical companies and research institutions.

Online platforms serve as a marketplace for comparator drug suppliers, connecting them with potential buyers, thus expanding their reach and customer base. Moreover, digitalization and technological advancements are revolutionizing the comparator drug sourcing process.

Integration of technologies such as blockchain, artificial intelligence, and data analytics is enabling seamless tracking, traceability, and quality control of comparator drugs. These technological advancements improve efficiency and minimize the risk of counterfeit or substandard drugs entering clinical trials.

Scope of Comparator Drug Sourcing Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Comparator Drug Sourcing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Vendor Type (Clinical Trial Supplies Vendors, Specialist Comparator Sourcing Vendors, and Networks /Consortia), End-user (Drug Manufacturers, CMO, Academic and Research Institute, and Others)
Regional Scope	Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered	AmerisourceBergen Corporation, Almac Group, Catalent, Inc, Clinical Services International (CSI), Clinigen Limited, MCKESSON CORPORATION, Myonex, Sharp Services, LLC, Thermo Fisher Scientific Inc., TransCelerate BioPharma Inc., and Intertek Group plc.

Comparator Drug Sourcing Market Segment Insights

Based on Vendor Type, the market is segmented into clinical trial supplies vendors, specialist comparator sourcing vendors, and networks/consortia. The clinical trial supplies vendors segment is expected to hold a considerable share of the market during the forecast, due to increasing clinical trial activity.

The growth of the pharmaceutical and biotechnology industries has led to a rise in the number of clinical trials. This surge in clinical trial activity has driven the demand for comparator drugs and services of clinical trial supply vendors.

On the basis of end-user, the market is fragmented into drug manufacturers, CMOs, academic and research institute, and others. The drug manufacturers segment holds a key share of the market, as drug manufacturers have established reputations for producing safe and effective pharmaceuticals. Their involvement in comparator drug sourcing adds an element of trust and reliability to clinical trials.

Comparator Drug Sourcing Market Regional Outlook

Based on regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a significant share of the market in 2022, due to the rising number of clinical trials globally. Technological advancements, government funding, and increasing incidence of diseases are driving the market in North America. Major CROs and biopharmaceutical companies are present in this region, as a large number of large-scale pharma R&D clinical trials are conducted in this region.

Segments

By Vendor Type

Clinical Trial Supplies Vendors
Specialist Comparator Sourcing Vendors
Networks /Consortia

By End-user

Drug Manufacturers
CMO
Academic and Research Institute
Others

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Key Market Players Profiled in the Report

AmerisourceBergen Corporation
Almac Group
Catalent, Inc
Clinical Services International (CSI)
Clinigen Limited
MCKESSON CORPORATION
Myonex
Sharp Services, LLC
Thermo Fisher Scientific Inc.
TransCelerate BioPharma Inc.
Intertek Group plc

Competitive Landscape

Manufacturers operating in the Global Comparator Drug Sourcing Market are AmerisourceBergen Corporation, Almac Group, Catalent, Inc, Clinical Services International (CSI), Clinigen Limited, MCKESSON CORPORATION, Myonex, Sharp Services, LLC, Thermo Fisher Scientific Inc., TransCelerate BioPharma Inc., and Intertek Group plc.
Market players are pursuing strategies such as acquisitions, product launches, collaborations, and geographic expansion to leverage untapped opportunities in the Global Comparator Drug Sourcing Market.

Table Of Content

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Comparator Drug Sourcing Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Comparator Drug Sourcing Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Comparator Drug Sourcing Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Comparator Drug Sourcing Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Comparator Drug Sourcing Market Size & Forecast, 2016-2031
      4.5.1 Comparator Drug Sourcing Market Size and Y-o-Y Growth
      4.5.2 Comparator Drug Sourcing Market Absolute $ Opportunity
Chapter 5 Global Comparator Drug Sourcing Market Analysis and Forecast By Vendor Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Vendor Type
      5.1.2 Basis Point Share (BPS) Analysis By Vendor Type
      5.1.3 Absolute $ Opportunity Assessment By Vendor Type
   5.2 Comparator Drug Sourcing Market Size Forecast By Vendor Type
      5.2.1 Clinical Trial Supplies Vendors
      5.2.2 Specialist Comparator Sourcing Vendors
      5.2.3 Networks /Consortia
   5.3 Market Attractiveness Analysis By Vendor Type
Chapter 6 Global Comparator Drug Sourcing Market Analysis and Forecast By End-user
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By End-user
      6.1.2 Basis Point Share (BPS) Analysis By End-user
      6.1.3 Absolute $ Opportunity Assessment By End-user
   6.2 Comparator Drug Sourcing Market Size Forecast By End-user
      6.2.1 Drug Manufacturers
      6.2.2 CMO
      6.2.3 Academic and Research Institute
      6.2.4 Others
   6.3 Market Attractiveness Analysis By End-user
Chapter 7 Global Comparator Drug Sourcing Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Comparator Drug Sourcing Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
   8.1 Introduction
   8.2 Current & Future Impact Analysis
   8.3 Economic Impact Analysis
   8.4 Government Policies
   8.5 Investment Scenario
Chapter 9 North America Comparator Drug Sourcing Analysis and Forecast
   9.1 Introduction
   9.2 North America Comparator Drug Sourcing Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Comparator Drug Sourcing Market Size Forecast By Vendor Type
      9.6.1 Clinical Trial Supplies Vendors
      9.6.2 Specialist Comparator Sourcing Vendors
      9.6.3 Networks /Consortia
   9.7 Basis Point Share (BPS) Analysis By Vendor Type
   9.8 Absolute $ Opportunity Assessment By Vendor Type
   9.9 Market Attractiveness Analysis By Vendor Type
   9.10 North America Comparator Drug Sourcing Market Size Forecast By End-user
      9.10.1 Drug Manufacturers
      9.10.2 CMO
      9.10.3 Academic and Research Institute
      9.10.4 Others
   9.11 Basis Point Share (BPS) Analysis By End-user
   9.12 Absolute $ Opportunity Assessment By End-user
   9.13 Market Attractiveness Analysis By End-user
Chapter 10 Europe Comparator Drug Sourcing Analysis and Forecast
   10.1 Introduction
   10.2 Europe Comparator Drug Sourcing Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Comparator Drug Sourcing Market Size Forecast By Vendor Type
      10.6.1 Clinical Trial Supplies Vendors
      10.6.2 Specialist Comparator Sourcing Vendors
      10.6.3 Networks /Consortia
   10.7 Basis Point Share (BPS) Analysis By Vendor Type
   10.8 Absolute $ Opportunity Assessment By Vendor Type
   10.9 Market Attractiveness Analysis By Vendor Type
   10.10 Europe Comparator Drug Sourcing Market Size Forecast By End-user
      10.10.1 Drug Manufacturers
      10.10.2 CMO
      10.10.3 Academic and Research Institute
      10.10.4 Others
   10.11 Basis Point Share (BPS) Analysis By End-user
   10.12 Absolute $ Opportunity Assessment By End-user
   10.13 Market Attractiveness Analysis By End-user
Chapter 11 Asia Pacific Comparator Drug Sourcing Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Comparator Drug Sourcing Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Comparator Drug Sourcing Market Size Forecast By Vendor Type
      11.6.1 Clinical Trial Supplies Vendors
      11.6.2 Specialist Comparator Sourcing Vendors
      11.6.3 Networks /Consortia
   11.7 Basis Point Share (BPS) Analysis By Vendor Type
   11.8 Absolute $ Opportunity Assessment By Vendor Type
   11.9 Market Attractiveness Analysis By Vendor Type
   11.10 Asia Pacific Comparator Drug Sourcing Market Size Forecast By End-user
      11.10.1 Drug Manufacturers
      11.10.2 CMO
      11.10.3 Academic and Research Institute
      11.10.4 Others
   11.11 Basis Point Share (BPS) Analysis By End-user
   11.12 Absolute $ Opportunity Assessment By End-user
   11.13 Market Attractiveness Analysis By End-user
Chapter 12 Latin America Comparator Drug Sourcing Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Comparator Drug Sourcing Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Comparator Drug Sourcing Market Size Forecast By Vendor Type
      12.6.1 Clinical Trial Supplies Vendors
      12.6.2 Specialist Comparator Sourcing Vendors
      12.6.3 Networks /Consortia
   12.7 Basis Point Share (BPS) Analysis By Vendor Type
   12.8 Absolute $ Opportunity Assessment By Vendor Type
   12.9 Market Attractiveness Analysis By Vendor Type
   12.10 Latin America Comparator Drug Sourcing Market Size Forecast By End-user
      12.10.1 Drug Manufacturers
      12.10.2 CMO
      12.10.3 Academic and Research Institute
      12.10.4 Others
   12.11 Basis Point Share (BPS) Analysis By End-user
   12.12 Absolute $ Opportunity Assessment By End-user
   12.13 Market Attractiveness Analysis By End-user
Chapter 13 Middle East & Africa (MEA) Comparator Drug Sourcing Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Comparator Drug Sourcing Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Comparator Drug Sourcing Market Size Forecast By Vendor Type
      13.6.1 Clinical Trial Supplies Vendors
      13.6.2 Specialist Comparator Sourcing Vendors
      13.6.3 Networks /Consortia
   13.7 Basis Point Share (BPS) Analysis By Vendor Type
   13.8 Absolute $ Opportunity Assessment By Vendor Type
   13.9 Market Attractiveness Analysis By Vendor Type
   13.10 Middle East & Africa (MEA) Comparator Drug Sourcing Market Size Forecast By End-user
      13.10.1 Drug Manufacturers
      13.10.2 CMO
      13.10.3 Academic and Research Institute
      13.10.4 Others
   13.11 Basis Point Share (BPS) Analysis By End-user
   13.12 Absolute $ Opportunity Assessment By End-user
   13.13 Market Attractiveness Analysis By End-user
Chapter 14 Competition Landscape
   14.1 Comparator Drug Sourcing Market: Competitive Dashboard
   14.2 Global Comparator Drug Sourcing Market: Market Share Analysis, 2022
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      14.3.1 AmerisourceBergen Corporation
      14.3.2 Almac Group
      14.3.3 Catalent, Inc
      14.3.4 Clinical Services International (CSI)
      14.3.5 Clinigen Limited
      14.3.6 MCKESSON CORPORATION
      14.3.7 Myonex
      14.3.8 Sharp Services, LLC
      14.3.9 Thermo Fisher Scientific Inc.
      14.3.10 TransCelerate BioPharma Inc.
      14.3.11 Intertek Group plc

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FAQ Section

Some frequently asked questions about this report!

1. Can I ask for different company profiles?

Additional company profiles can be provided on request. For a discussion related to the above findings, click Speak to Analyst

2. What are the criteria used for selecting a company profile?

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

3. What are the factors driving the growth of the Global Comparator Drug Sourcing Market?

Increasing number of clinical trials is the factors expected to drive the market growth during the forecast period.

4. How big will be the Global Comparator Drug Sourcing Market in 2031?

According to this Growth Market Reports report, the Global Comparator Drug Sourcing Market is likely to register a CAGR of 5.2% during the forecast period 2023-2031, with a projected valuation of USD ~ 1,797.2 million by the end of 2031.

5. Which macroeconomic factors affect the market?

Factors such as healthcare expenditure and economic growth and stability are analyzed in the final report.

6. Who are the major players operating in the market?

Major manufacturers include AmerisourceBergen Corporation, Almac Group, Catalent, Inc, Clinical Services International (CSI), Clinigen Limited, MCKESSON CORPORATION, Myonex, Sharp Services, LLC, Thermo Fisher Scientific Inc., TransCelerate BioPharma Inc., and Intertek Group plc.

7. What is the impact of COVID-19 on the overall market during the years 2019 -2020?

The COVID-19 pandemic’s impact on the comparator drug sourcing market in several ways. Globally, many nations have experienced significant strain on their economies and healthcare systems, due to the high transmission rate of COVID-19. Production facilities of all healthcare-related businesses were disrupted and transportation was severely hampered in both developed and developing countries during the COVID-19 pandemic.

8. What are the factors restraining the growth of the Global Comparator Drug Sourcing Market?

Factors such as High Cost of Drug Development is expected to hinder the market.

9. Which is the forecast year calculated in the Global Comparator Drug Sourcing Market report and what is the analysis period?

The forecast year considered for the Global Comparator Drug Sourcing Market report is 2031.

10. Which is the base year calculated in the Global Comparator Drug Sourcing Market report and what is the analysis period?

The base year considered for the Global Comparator Drug Sourcing Market report is 2022. The complete analysis period is 2016 to 2031, wherein, 2016 to 2021 are the historic years, and the forecast is provided from 2023 to 2031.