LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Clinical Research Services Category - Procurement Market Intelligence Report.
The pharmaceutical industry is leveraging various clinical research services to develop new drugs and treatments to tackle the growing instances of chronic ailments and to tend to the aging population. The healthcare industry is seeking services to make the treatments more affordable. These factors are driving the category spend momentum in various regions. Buyers from developing nations prefer outsourcing clinical research services to CROs that have necessary skillsets and knowledge to invent drugs and devices. This is also contributing to the global category spend growth rate in the coming years. Request a Free Sample of this market intelligence report here!
North America is registering a high category adoption rate because of the growth of biosimilar and biologics markets and rising demand for outsourcing of clinical research services to CROs by pharmaceutical and biopharmaceutical companies. Statistics imply that North America currently holds the largest market share for clinical research services. Favorable government policies and outsourcing of services done by the pharmaceutical companies are prompting service providers in APAC to improve their service portfolio and adopt advanced technologies to cater to the diverse needs of the buyers.
This market intelligence report on clinical research services provides buyers with insights into the category spend and cost and volume drivers impacting the pricing of such products. It also offers information on the critical growth enablers that are responsible for influencing the overall supplier cost structure. This clinical research services procurement research report also highlights a set of procurement best practices that will foster cost-effective category procurement and help achieve cost savings. Get free customization of this market intelligence report on clinical research services to get information tailored to your business needs.
“Buyers must engage with suppliers that conduct clinical quality assurance programs adhering to quality standards as per protocols and international regulations,” says SpendEdge procurement expert Sumit Yadav. “These programs aid buyers in evaluating the integrity of scientific data, clinical research, and clinical trials,” added Sumit.
This clinical research services procurement research report has estimated the following cost drivers to influence the category growth in the coming years:
- Increase in labor costs is a high business impact factor for category service providers
- Tactical levers offer greater cost-saving opportunities relative to strategic levers
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SpendEdge’s procurement market intelligence reports for the pharma and healthcare category provide detailed supply market forecasts and cost drivers that impact category growth. Such information will help procurement managers as well as the suppliers to determine the total cost of ownership and change their procurement strategies accordingly. Additionally, SpendEdge’s reports provide category management insights and information on the procurement best practices for the category.
Report scope snapshot: Clinical research services
Category pricing insights
- Pricing outlook
- Total cost of ownership analysis
- Supplier cost structure
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- Supplier-side levers
- Buyer-side levers
- Quantifying cost savings by negotiation strategies
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- Competitiveness index for suppliers
- Buyer power
- Supplier power score
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