The comparator drug sourcing market, valued at approximately USD 1.16 billion in 2023, is projected to grow to USD 2.24 billion by 2034, with a CAGR of 6.15% from 2024 to 2034. This growth is fueled by the increasing number of clinical trials, advancements in drug development, and rising investments in the industry.
Download statistics of this report @ https://www.towardshealthcare.com/download-statistics/5303
In July 2024, Catalent completed the expansion of its clinical supply facility in Schorndorf, Germany. This 32,000 sq. ft. facility offers comprehensive clinical supply services at controlled room temperatures between 15 and 25 degrees Celsius.
In April 2022, Yourway expanded its controlled ambient capabilities in Allentown, Pennsylvania, to meet the increasing demand for long-term, temperature-controlled storage, accommodating 5,000 pallets of clinical trial supplies.
McKesson Corporation reported consolidated revenue of $309 billion for fiscal 2024, reflecting a 12% increase from fiscal 2023. The company generated a cash flow from operations of $4.3 billion and a Free Cash Flow of $3.6 billion.
The emergence of advanced technologies is transforming the healthcare sector. Innovations like artificial intelligence (AI) and machine learning (ML) are streamlining the supply chain for comparator drugs. These technologies enable companies to quickly locate comparator suppliers based on specific products and geographic areas.
AI and ML can automate various aspects of the supply chain, including inventory management for comparator drugs and advanced tracking and monitoring systems. They also optimize logistics by identifying the most efficient shipping routes. Additionally, AI enhances temperature monitoring and control during transportation, ensuring drug quality.
Moreover, AI can mitigate risks associated with comparator drug sourcing, such as identifying subpar products, managing drug shortages, controlling excessive inventory, assessing supplier risks, and utilizing predictive analytics. Consequently, AI and other advanced technologies significantly enhance the resilience and efficiency of comparator drug sourcing.
Discover our detailed Table of Contents (TOC) for the Industry, providing a thorough examination of market segments, material, emerging technologies and key trends. Our TOC offers a structured analysis of market dynamics, emerging innovations, and regional dynamics to guide your strategic decisions in this rapidly evolving healthcare field – https://www.towardshealthcare.com/table-of-content/comparator-drug-sourcing-market-sizing
To own our research study instantly, Click here @ https://www.towardshealthcare.com/price/5303
You can place an order or ask any questions, please feel free to contact us at sales@towardshealthcare.com
About Us
Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.
Explore the comprehensive statistics and insights on healthcare industry data and its associated segmentation: Get a Subscription
For Latest Update Follow Us: https://www.linkedin.com/company/towards-healthcare
Contract Development and Manufacturing Organizations (CDMOs) play a crucial role in the pharmaceutical and biotechnology industries by providing essential services… Read More
The global medical rehabilitation services market has been experiencing significant expansion, driven by various factors such as an aging population,… Read More
The global antibody drug market is experiencing rapid growth, with a notable surge in monoclonal antibody (mAb) demand. The market… Read More
Stroke rehabilitation plays a crucial role in helping individuals regain independence and improve their quality of life following a stroke.… Read More
Healthcare is a multifaceted domain, catering to various needs and conditions. The concept of ambulatory wellness services, which focus on… Read More
Artificial Intelligence (AI) and Machine Learning (ML) have rapidly evolved from emerging technologies to integral components in a variety of… Read More