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Home / India News / 2007 / January / January 9, 2007
Competing in the U.S. Contract Research Market: What Pharma & Biotech Companies Want and How to Compete for their Business

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Competing in the U.S. Contract Research Market: What Pharma & Biotech Companies Want and How to Compete for their Business

Mumbai, Maharashtra, India

Frost & Sullivan's Healthcare Division will be releasing an end-user study on the increasingly competitive landscape of the CRO market. The study, entitled "Competing in the U.S. Contract Research Market: What Pharma & Biotech Companies Want and How to Compete for their Business" is the result of extensive interviews conducted across Pharmaceutical and Biotech companies, and provides insights on how CROs are evaluated within a scenario of tightening outsourcing budgets.

Outsourcing to CROs by pharmaceutical and biotechnology companies continues to be a growing trend with more than 20 percent of cardiovascular and oncology clinical development currently being outsourced. Additionally, therapeutic areas such as metabolic diseases are likely to be increasingly outsourced in the next 12-24 months.

If you are interested in a complimentary brochure, which provides an overview of this informative End-User Study on the CRO Market, please send an e-mail to Shwetha Thomas and Nimisha Iyer - Corporate Communications at sthomas@frost.com / niyer@frost.com with the following information: your full name, company name, title, telephone number, e-mail address, city, state, and country. We will send you the information via email upon receipt of the above information.

Due to increased globalization of clinical trial activity, there is indication of a possible slight shift in clinical trial activities from North America to other regions. North America's share of clinical trials is expected to decrease from 61 percent to 53 percent in the next 3-5 years.

The primary reasons for outsourcing include a reduction in manpower required by pharmaceutical and biotech firms, greater geographic coverage provided by CROs, better access to patients for clinical trials and an enabling of R&D in non-core therapeutic areas.

Furthermore, there is some indication of a trend towards significant reductions in outsourcing / CRO budgets in the next 12 to 24 months for the majority of pharmaceutical and biotechnology companies surveyed. The source of this reduction appears to be an overall expectation of decline in outsourcing costs, most likely due to intensifying competition, rather from a decline in the rate of outsourcing itself.

Frost & Sullivan's comprehensive end-user study on the CRO Market will include the following elements:

-- Analysis of various Contract Research Organization (CRO) market segments: The study identifies and describes 3 market segments, derived statistically, in terms of their breadth, scope and intensity of outsourcing, perceived motives for outsourcing, and criteria for CRO selection.

-- Perceived strengths of the largest CROs: The study evaluates the perceived positioning of 11 large CROs, based on how they are associated with various key attributes.

-- Data and Information on Selection Criteria of CROs: This study encompasses vital feedback allowing CROs to gain insight into current and future outsourcing patterns and trends, to better understand motives and perceived benefits of outsourcing, criteria for CRO selection and current and future technology requirements.

-- Varied sample of respondents: The sample includes representatives of both Pharmaceutical (65%) and Biotechnology Companies (35%). The 180 respondents were involved either in R&D, Clinical Development, Product Management, Purchasing, Quality Control, or Regulatory functions.

-- Proven survey methods: The study includes survey methods such as ANOVA, MaxDiff, Cluster Analysis, Factor Analysis, Correspondence Analysis, Multiple Regression, and Logistic Regression.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.

Shwetha Thomas, Corporate Communications - South Asia & Middle East, Frost & Sullivan, + 91 (022) 4001 3429 sthomas@frost.com

Nimisha Iyer, Corporate Communications - South Asia & Middle East, Frost & Sullivan, + 91 (022) 4001 3431 niyer@frost.com

Source: Frost & Sullivan (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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