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February 1, 2023

Life science trend tracker #5

Our first trend report of the year highlights industry news and shares resources for deeper learning.
trend tracker

Our regular trend tracker series presents industry news in a scannable format. Check out recent top stories and dive into additional reading to help you respond.

Increasing trial diversity

A study from the University of Chicago found that increasing payment to clinical trial participants may help close the gap in participation among different socioeconomic, racial, and ethnic groups. Researchers found that offering participants $500 increases representation and incentivizes people across socioeconomic groups to participate in clinical trials.

Healthcare economists also concluded that this cost is economically feasible for institutions conducting studies. Increasing diversity within clinical trials has been challenging for the life science industry, but incentivizing participants presents a compelling option to achieve this goal.

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The year ahead in clinical studies

Clinical Trials Arena posted an article on what to expect from clinical trials in 2023. Results of a GlobalData study show that 43% of planned clinical trials in 2023 are Phase I, with most kicking off in January. The majority of these trials, 89.8%, will be single-country trials as opposed to multinational trials. Within this, non-industry sponsors hold most single-country trials, and industry sponsors account for most of the multinational trials. Of these 2023 trials, 5% have at least one decentralized component, pointing towards the growing popularity of decentralized trials.

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2023 pharma M&A outlook

Pharmaceutical Technology looked at GlobalData’s Deals database to analyze M&A dealmaking in 2022 and the past five years. The team looked at the number of deals and deal value to gauge how it affected the data. It’s predicted that despite the mild recession in the US, 2023 will see significant acquisitions and partnerships within the pharmaceutical space.

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