As the Contract Research Organization (CRO) market expands, disproportionately benefiting large pharma companies, strategic partnerships—in addition to size and scale—drive the potential behind elevating industry revenue. While the large CROs expand their overall market shares, pharma companies with a niche focus continue to rely on meeting specific requirements of clinical trials. Shifting the focus towards outsourcing specific clinical trial steps proves to be a better fit for niche pharma companies as compared to outsourcing the complete program to a broad-platform CRO. The key to achieving this seamless shift in focus is e-clinical efficiency. CROs today are recognizing and leveraging the benefits of e-clinical technologies for faster, precise, and productive studies. The implementation of e-clinical platforms empowers CROs with improved clinical trial performance, robust data control and sharing, tracking and reporting patient outcomes, and regulatory information management at smaller budgets.
As the industry looks towards utilizing foreign geographies to operate on smaller budgets, globalization due to low-cost studies and labor significantly benefit the pharma companies with streamlined business operations and communication during project management. With the FDA expediting regulatory processes through 351(k), numerous biosimilars in the pipeline propel CROs to serve clinical and analytical support services. However, drug developers rely heavily on CROs for the approval and development process of biosimilars due to the increasing demand for regulatory support. The pharma companies’ large investments in biosimilars have created an environment that will benefit significantly from the strategic partnership with CROs. The alliance guarantees greater synergy between teams partnering on research, and collaboration on the best practices, allowing companies to leverage innovation from the other to enhance biosimilar drug development. With the right number of experienced personnel to conduct various activities, and stay creative in the market, CROs can seamlessly fulfill the R&D demands of multiple vendors.
In order to assist pharma companies chose the best-fit CRO partnership, a distinguished panel of CEOs, CIO, and Pharma Tech Outlook’s editorial team has produced a list of CROs that deliver competence and innovation in the industry.
We present to you, Pharma Tech Outlook’s “Top 10 CROs in APAC – 2019.”