Abstract
About this talk
- The entire process of developing a drug from preclinical research to marketing can take approximately 12 to 18 years and often costs well over $1 billion.
- Global Top Pharmaceutical Companies based on projected R&D spending in 2026 are Roche, Johnson & Johnson, Merck & Co, Pfizer and Novartis.
- The global CRO services market in terms of revenue was estimated to be worth $76.6 billion in 2023 and is poised to reach $127.3 billion by 2028.
Global Drug Development Trends:
- Increased Focus on Quality, Compliance and Quality Management System
- Requirements of Audit and Inspection readiness
- Process Enhancements, Changes, Improvements
- Further adoption of Technology and Tools, Database migrations
- Focus on Data Analytics and Trends
- Organisational Culture Enhancement –Focus on People Development, Training and Retention
- Change Management – Mergers / Acquisitions and Integrations
Global Drug Development Challenges & Opportunities:
- Requirement of skilled resources
- Retention of Talent
- People Development Needs
- Standard Operating Procedures
- Better quality and compliance
- Need for better productivity
- Adoption of Technology
- Reduce cost per transaction
- Improve Efficiency
Audience Take Away Notes:
- Understanding of the Global Drug Development Industry. The current trends, challenges and opportunities
- Four important pillars of Drug Development – People, Process, Technology and Partnerships
- Digital Transformation in Drug Development
- Top 10 Trends in Drug Development like Personalized medicine, Orphan drugs for rare diseases & New clinical trial models (Decentralized Clinical Trials)
Speaker
About the speaker
