GenNext at SIRO Clinpharm

SIRO, one of India’s earliest CROs, is set to scale new heights, as its next-gen leaders chart out fresh strategies to sustain its strong position in the clinical research segment and expand its offerings, while pursuing newer focus areas like medical writing and biometrics

- Viveka Roychowdhury

The COVID-19 pandemic has left its mark on the clinical research and trials sector, but disruptions have only served to temper the steel of longtimers. Clinical research organisations (CROs) are helping pharma companies roll out the COVID-19 trials and while this is a huge business opportunity, it is also fraught with risk. Besides the usual risks associated with testing new products, is the fact that the trials had to be run under severe logistical constraints.

In September, an analysis by Frost & Sullivan informed, with the increased threat of COVID-19 and worldwide lockdowns in effect, the CRO market is experiencing interruptions in ongoing clinical trials and delays in new trials. Recovery is expected to commence from 2023; although it will be staggered, it will take revenue to the original growth trajectory by 2024–2025. As per the revised forecast after the impact of the COVID-19 pandemic, the CRO market is estimated to garner revenue of $63.83 billion by 2024 from $43.03 billion in 2019, at a compound annual growth rate (CAGR) of 8.2 per cent.

The report titled, Hybridisation of Clinical Trial Designs Reviving Global CRO Market Post-pandemic; 2019-2024, reveals that hybrid clinical trials and remote patient monitoring are key trends driving the global CRO market. Hybrid clinical trials leveraging safety-focused, direct-to-consumer logistical solutions are taking centre stage, ensuring research continuity.

Surviving testing times