My name is Shannon and I’m a VP of R&D at a large pharmaceutical company. My job involves creating a clinical development strategy for the next few years, including managing R&D budgets. Another part of my job is to lead a team responsible for service provider selection for our outsourced studies.
Importance of Staying Up-to-Date with Market Dynamics
To be successful at my job, I need to stay on top of the dynamics in the Phase I marketplace – topics like the proportion of Phase I work my competitors are outsourcing rather than keeping in-house and how outsourced work is being allocated to different types of service providers. It is also helpful to know how other large sponsor companies select their Phase I providers as I decide who at my company should be involved in the decision-making process and whether to build out a preferred provider list.
Phase I Market Outlook Report
ISR’s Phase I Market Outlook (2022-2026) report provides readers like me with a high-level view of the Phase I clinical development space to illustrate current market dynamics and inform strategic planning. For this report, 125 Phase I decision-makers were surveyed to share their insights into where the Phase I market is now and what changes they expect over the next four years.
Key Information for Drug Sponsors and Service Providers
Current and predicted study spend and outsourcing proportions are key pieces of information with which drug sponsors and service providers should be familiar. Understanding the service provider selection environment is also critical due to the widespread use of service providers in the Phase I space; respondents have shared key service provider selection criteria for both complex and simple Phase I studies.
Staying on Top of Trends
Finally, staying on top of trends such as use of challenge trials, diagnostic development, and how companies are responding to the COVID-19 pandemic helps readers stay current with market happenings and plan for what the market is expected to look like in 2026.
Here are a few data points that I found interesting in this report from ISR: