The comparator sourcing market deals with exploring the availability and source of the comparator drug followed by its acquisition and supply. The reference or comparator drugs are required in conducting clinical trial studies that compare the efficacy and safety of the test formulation or an investigational new product to those of an existing approved reference product. These approved reference products are the comparator drugs required in conduct of various types of clinical trials. Clinical research is an important area that helps to determine the safety and efficacy of investigational drugs in very structured scientific ways with high norms of ethical standards. This area is governed by various regulatory, legal and ethical norms. The need for new products is high and thus vast clinical research activities are underway around the globe. Consequently, the comparator drug sourcing sector is also rapidly expanding. This sector is driven by an increase in the number of clinical trials as well as various types of clinical trials that are required for any investigational product to reach the marketplace. Pharmaceutical companies, contract research organizations (CROs), and third-party suppliers who specialize in the drug sourcing, procurement, and logistics of supply of the comparator drugs are the main market players in this space. For comparator drugs, pharmaceutical companies do try to procure the comparator drug internally using their resources, but also rely on external supplies. Thus, CROs and third-party vendors with specialized skills provide services such as product identification, global sourcing alternatives and procurement, packaging and labelling, including temperature-controlled transportation if required, storage and final distribution to the depots of the client.
The comparator sourcing market is heavily regulated and needs to adhere to local and international laws and regulations. Special permits for its imports to the country are necessary. The sourced comparator product must be genuine, of highest quality and must be supplied with required product specification along with the legal and administrative documents from the manufacturer. These requirements are critical to ensure the quality of product guarantees patient safety. There are various forms of comparative drug sourcing markets that are classified according to the type of participant participating, the services provided, or the geographic location.
The following are some examples of common types of comparative sourcing markets:
- Pharmaceutical company-owned comparator drug sourcing: For comparator drugs, several pharmaceutical companies have internal sourcing and supply chain operations. They have specific teams in charge of sourcing, procuring, and distributing comparator drugs for clinical trials.
- CRO comparator drug sourcing: CROs are specialized firms that offer a variety of services to pharmaceutical companies, such as clinical trial management, data administration, and strategic comparator sourcing. Some CROs have dedicated teams that manage the full process of sourcing comparator drugs, from identification to delivery.
- Geographic-specific comparator drug sourcing: Comparator drug sourcing can also be classified by the geographical locations. Some comparator sourcing companies or vendors focus on sourcing and distributing comparative drugs for certain regions or countries, whereas others have a global footprint.
- Third-party comparator drug sourcing: Several third-party vendors specialize in the sourcing, procurement, and logistics of comparator drugs. Specialized services such as global comparator sourcing, product identification, packaging and labelling, and temperature-controlled transportation and storage are frequently provided by these vendors.
- Online comparator drug sourcing: Some vendors offer an online comparator drug sourcing marketplace where pharmaceutical companies as well as researchers can obtain the comparator medications. These platforms frequently enable access to a diverse choice of comparator medications as well as quick and effective delivery methods.
The comparator drug sourcing companies offer various benefits to pharmaceutical companies, CROs, and clinical trial researchers.
The following are a few of the main advantages:
- Access to a wide range of comparator drugs: The comparator sourcing clinical trials industry provides access to a wide range of comparator drugs for use in clinical trials.
- Competence and specialization: The comparator drug sourcing companies are composed of specialized vendors and firms with competence in comparator medication identification, sourcing, procurement, and logistics guaranteeing the delivery of comparator drugs to clinical trial sites/ depots on schedule and efficiently.
- Cost savings: Comparator drugs are usually expensive; however, an experienced and trusted sourcing partner can negotiate better prices and supply timelines. Thus, going through a good comparator drug sourcing partner helps pharmaceutical companies and researchers save money and time. This can aid in lowering the overall cost of clinical trials and respect the set timelines.
- Global reach: The global comparator sourcing industry plays a pivotal role in providing clinical trials supply solutions for multicenter international studies. This global reach is essential for pharmaceutical companies and researchers to access comparator drugs from diverse locations and countries. Conducting such extensive international clinical trials ensures a broad and representative sample population, encompassing various geographical regions and ethnicities.
In summary, the comparator sourcing market is crucial to conduct clinical research programs. This in turn ensures clinical trial quality and safety for the patient. The expansion of the comparator drug sourcing market is projected to grow multifold in the coming years as demand for new drugs are on rise.
