2023 March Life Sciences Update
Clinical Trial Activity Driving Future Demand When companies receive FDA approval in the U.S., they need to quickly move into a manufacturing capacity. The FDA has worked to improve their approval processes, and over time have increased the number of approvals for novel drugs and biologicals. 2 Although 2022 appears to be behind the uptick in approvals of the last four years, biological approvals were at a three-year high. With more clinical trials sitting in phase 3 than any other phase, there is a robust pipeline of activity for future FDA approvals. Novel Drug and Biological Approvals, FDA 70 80 90
Clinical Trials by Type
Drug trials account for 50% of clinical trials across the markets that Cushman & Wakefield tracks. Biological and device trials account for 10% and 11% of clinical trials, respectively. All other trials, including behavioral and diagnostic testing, make up the remaining 29%. The top five markets with the greatest number of clinical trials currently include New York, Houston, Boston, Philadelphia and Los Angeles-Orange County. While Houston—the only emerging market included in the top five—is not classified as a primary life sciences market by Cushman & Wakefield, it does share some important characteristics with them. These markets, including Houston, are home to some of the largest hospital systems and medical universities, where many of these clinical trials take place.
2015 2016 2017 2018 2019 2020 2021
Novel Drug Approvals Biologicals
2 Vaccines, allergenic products, blood and blood products, plasma derivatives, cellular and gene therapy products.
Source: U.S. Food and Drug Administration, Cushman & Wakefield Research
Source: Clinicaltrials.gov, Cushman & Wakefield Research
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LIFE SCIENCES UPDATE | 2023 MARCH
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