LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Pharma Clinical Trial Services Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the pharma and healthcare industry. This report breaks down the data and analysis behind the procurement of pharma clinical trial services and acts as an all-inclusive guide for making smart purchasing decisions.
“Clinical trial service providers are emerging with various clinical trial management solutions and are working toward long-term collaborations with biopharma companies,” says SpendEdge procurement analyst Anil Seth. “Also, the suppliers are increasingly trying to manage demands by expanding their services and indulging in long-term partnerships with buyers,” added Anil.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Pharma Clinical Trial Services Market:
- Adoption of e-clinical trial tools or solutions
- The rise in adoption of adaptive design models in clinical trials by CROs
- Increase in M&A
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Adoption of e-clinical trial tools or solutions:
Clinical trial e-tools are increasingly being used for digitization of clinical trial practices. The adoption of such tools provides an opportunity for advanced enterprise resource planning. Also, it facilitates transparency of research documents between CROs and study sites.
The rise in adoption of adaptive design models in clinical trials by CROs:
The adaptive design model is gaining importance in clinical trial planning as it improves efficiency and reduces trial timelines. Furthermore, it is flexible and cost-effective as it allows prospective planning and testing of multiple compounds in a relatively small amount of time.
Increase in M&A:
There has been a rise in the M&A’s between pharmaceutical companies and CROs or between CROs. This is because M&A aids in enhancing service offerings and also enables each to gain from the available expertise of the other entity.
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