Life Sciences Update | 2022 October

Future Demand

U.S. Novel Drug and Biological Approvals, FDA

Number of Clinical Trials By Market

Clinical Trials by Type

8,000

Novel Drug Approvals Biologicals

7,000

90

6,000

80

Other 25%

5,000

70

4,000

60

3,000

50

Drug 54%

2,000

40

Device 10%

1,000

30

0

20

Biological 11%

10

0

2015 2016 2017 2018 2019 2020 2021 2022YTD

Source: U.S. Food and Drug Administration

Source: Clinicaltrials.gov

In the U.S., when companies receive FDA approval, they need to quickly move into a manufacturing capacity. The FDA has worked to improve their approval processes and have, over time, increased the number of approvals for novel drugs and biologicals. 1 Although 2022 appears to be behind the uptick in approvals of the last four years, drug-related clinical trials account for 54% of the current trials in the U.S., indicating a robust pipeline of activity for future FDA approvals.

Drug trials account for 54% of clinical trials across the markets that Cushman & Wakefield tracks. Biological and device trials account for 11% and 10% of clinical trials, respectively. All other trials, including behavioural and diagnostic testing, make up the remaining 25%. The top five markets with the greatest number of clinical trials currently include New York, Boston, Los Angeles, Philadelphia and Chicago. These markets boast some of the largest hospital systems and medical universities, where many of these clinical trials take place.

1 Vaccines, allergenic products, blood and blood products, plasma derivatives, cellular and gene therapy products.

16 / CUSHMAN & WAKEFIELD

LIFE SCIENCES UPDATE | 2022 OCTOBER