Clinical Research Industry Outlook 2023: GLSA Network Growth
The clinical research industry outlook for 2023 revealed a year defined by uncertainty, adaptation, and resilience. As the drug development landscape evolved, Global Life Sciences Alliance (GLSA) remained focused on making meaningful connections that improve clinical trial success and patient outcomes.
At the start of the year, GLSA launched with 18 Network Partners. Over the course of 2023, that number grew quickly to 32 Network Partners and Solutions Providers. This expansion reflects our commitment to building a comprehensive solution network for the life sciences industry.
Importantly, our partners now span the full clinical research continuum. These services include drug formulation, Phase I–III studies, real-world evidence (RWE), and commercialization. In addition, GLSA supports critical needs such as patient recruitment, language translation, genomics, central lab services, and biometrics.
Moreover, our global reach continued to expand. We collaborated with CROs and service providers across the United States, Europe, Asia, the Philippines, and Latin America, strengthening our ability to support multinational clinical programs.
Technological Advances and Innovative Partnerships
At the same time, the industry stood on the edge of significant technological change. Throughout 2023, GLSA connected with highly innovative companies exploring the use of artificial intelligence (AI) across multiple domains.
As a result, topics such as AI implementation, validation, regulatory compliance, and quality assurance are expected to become major focus areas in 2024. Navigating these complexities responsibly will be critical for long-term success in clinical research.
GLSA Team Expansion
To support growing demand, GLSA expanded its internal team. These new team members brought valuable expertise and energy. Their contributions helped ensure that clients continued to receive timely solutions, trusted connections, and high-quality support.
Industry Downturn and Market Challenges
Despite strong engagement and frequent discussions, 2023 presented unique challenges. Many projects remained in a holding pattern longer than expected. Notably, the anticipated rush of project awards and study startups before year-end did not materialize.
This slowdown was driven by a high level of global and financial uncertainty. As a result, many investors remained cautious and delayed funding decisions. Contributing factors included:
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Ukraine–Russia conflict
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Israel–Hamas conflict
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2024 U.S. presidential election
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Recession concerns
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Inflation and interest rates
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The impact of the Inflation Reduction Act on small vs. large molecule development
Adapting to Change
Nevertheless, GLSA remained resilient. We adjusted strategies to align with the evolving market while continuing to support our network and clients. Encouragingly, a modest uptick in Phase I bioequivalence studies appeared in December. This shift signals the beginning of renewed activity and gives reason for optimism heading into 2024.
Networking and Events
Throughout the year, GLSA continued hosting monthly online networking events, typically held on the third Wednesday of each month. These events remained a consistent forum for collaboration, discussion, and problem-solving.
In addition, several in-person events stood out. Notably, the Clinical Reconnections event held prior to DIA Boston was a major success. This event was co-sponsored by Zymewire, Life Science Marketplace, Language Connections, Inference, Adams Bridge, FOCM, MedSurgPI, Navitas, and PiVOT.
Similarly, the evening before Outsourcing in Clinical Trials – Southeast, GLSA hosted another well-attended networking event. These gatherings continue to provide meaningful opportunities for professionals to connect and address real project challenges.
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Clinical Research Industry Outlook 2023: Looking Ahead to 2024
So, what do we expect in 2024?
First, we anticipate continued growth of site networks. This trend, which gained momentum in 2023, is attracting investment and driving consolidation. As sites adopt advanced technology to manage trial requirements, they are increasingly positioned to collaborate with sponsors on more equal footing.
Second, we expect greater consolidation among service providers, particularly within the decentralized trial vendor space. This shift will reshape how services are delivered and evaluated across the industry.
Closing Thoughts
In summary, 2023 was a year defined by resilience, adaptation, and steady growth despite market headwinds. As we move into 2024, GLSA remains optimistic and committed to supporting the industry through connection, innovation, and collaboration.
About GLSA
Global Life Sciences Alliance (GLSA) connects biotechs, pharma, CROs, and clinical research sites with the right experts, advisors, and solutions to accelerate development and reduce risk. With a network of more than 200 trusted partners spanning pre-clinical and clinical research, GLSA offers flexible, cost-effective access to specialized expertise and services that support early-stage biotechs, mid-size pharma, and global pharmaceutical companies.
When you need trusted, global resources to accelerate your research, GLSA helps you scale smarter and move you forward with confidence.
To learn how GLSA can support your organization, connect with Denise McNerney or Chris Matheus for a conversation about your goals and challenges.