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Rising costs and complexity of fundamental parts of Drug Development have driven a shift in the way modern drug discovery takes place.
It is now far more expensive to bring a new asset to market and this is where the strategic shift has come to outsource key parts of the drug development process, to specialist outsourced providers.
One example is the huge growth being seen in the Contract Development Manufacturing Outsourcing (CDMO) space, a sector born from the need to reduce the cost, and improve the overall quality, of developing and manufacturing new drugs for either supply or trial.
Large, full-service Clinical Research Organisations (CROs) are offering support to the management of entire clinical trials, or niche expert CROs offer advanced capabilities managing the data collation, analysis and reporting on Clinical Data from Clinical Trials and Observational Research.
In addition to traditional outsourcing solutions, this industry is also innovating to reduce their operating costs. New consultancies and specialist providers are developing rapid advancement to an industry which has operated in largely the same way for a long time, through the development of approaches such as Virtualising Clinical Trials, Advanced Data Analytics from existing or observational data, as well as offering consultancy services to drive further innovation in bringing new drugs and therapies to patients.
With sector regulations and statutory policies continually evolving, the agile, lean nature of this industry has made it the fastest growing industry within the Life Sciences sector forging closer partnerships with the other Life Sciences industries.
What has been the impact of Covid-19 on the Clinical Research sector? Find out more about the challenges Clinical Trials have faced, and are continuing to face; the “old normal”; and the light at the end of the tunnel in terms of the race for the vaccine.Read more