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The Contract Research Market for Drug Discovery Technologies: Opportunities for Life Science Suppliers
BioInformatics, LLC, April 2010, Pages: 150
In recent years, industrial and pharmaceutical companies have increased the amount of services they outsource to contract research organizations (CROs). This report will address whether CROs that service the preclinical research needs of industrial scientists constitute a promising and distinct market for life science suppliers. Specifically, data included in the report will reveal whether the CRO market for instrumentation and consumables will grow in 2010 and how the purchase decisions regarding these products are made. The report will also spotlight the appropriate channels for informing and influencing these product purchase decisions. Additionally, the report features a comprehensive directory of CROs, which life science suppliers can use to develop key marketing and sales contacts within these organizations.
The major objectives of this report are as follows:
- Characterize the potential of the preclinical CRO market in the US
- Estimate how the preclinical CRO market for consumables and instrumentation in the US will change in 2010
- Pinpoint key purchase decision points along the outsourcing chain
- Identify opportunities for capturing CRO market share
In an era where funds are tight and competition is steep, life science suppliers continue to battle fiercely over pharmaceutical and biotech lab budgets, and the winners undoubtedly leverage their position by targeting new markets — or serving current ones better. As lab budgets remain constricted, pharmaceutical and biotech labs are outsourcing pre-clinical and drug discovery services to create efficiency and offload the need to maintain staff, instruments and consumables for irregularly scheduled projects and projects that extend beyond their scope. The smart supplier recognizes that the relationship between the pharmaceutical/biotech industries and Contract Research Organizations (CROs) presents an opportunity—quick responders to fluctuations in the relationship between these adjacent markets will ride a trend that can steadily impact revenues.
But the challenge lies in applying metrics to this relationship, so that suppliers can anticipate customer needs based on the flow—and type— of research outsourced to CROs. In our January 2010 report, The Contract Research Market for Drug Discovery Technologies: Opportunities for Life Science Suppliers, we surveyed over 100 scientists from pharmaceutical and biotech labs to determine services earmarked for outsourcing, how research partners are chosen and what portion of lab budgets have been allocated for contracts. In addition, we asked over 100 CRO scientists about the types of drug discovery services they provide, and the budgets they have allocated for instruments and consumables. Specifically, the report details types of products used in CRO research and vendors most chosen as supplier-of-choice by CROs. New contracts continually present windows of opportunity for suppliers to gain a presence in CRO accounts; this study identifies the criteria used in choosing vendors for instrumentation and consumable products. Furthermore, we profiled the typical CRO scientist, so that suppliers can tailor marketing campaigns to address the needs of this unique consumer.
Beyond informing the life science supplier, The Contract Research Market for Drug Discovery Technologies: Opportunities for Life Science Suppliers was designed to provide a marketing roadmap for CROs as well. In this report, pharmaceutical and biotech labs outline the selection criteria used for choosing CROs, the most popular CROs, contract budget details, anticipated budgetary changes and customer satisfaction with the level of service provided by CROs. Outsourcing labs identify the top three attributes that were considered when choosing a CRO, and the percentage of pre-clinical/drug discovery lab budget that was spent on each type of pre-clinical/drug discovery service in FY2009, and how that number is expected to change in 2010.
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