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37th World Congress on Pharmacology

Amsterdam, Netherlands

Gurpreet Singh

IQVIA, United Kingdom

Title: Global drug development - Current trends, challenges and opportunities

Biography

Biography: Gurpreet Singh

Abstract

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