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Contract Manufacturing Organizations Can Reduce Vendor Switching with Informational Marketing Efforts - Frost & Sullivan: Companies opt for CMOs offering high-quality services, confidentiality and clean regulatory track records - Lifesciences.Frost.com
Contract Manufacturing Organizations Can Reduce Vendor Switching with Informational Marketing Efforts

 

PRZOOM - /newswire/ - Mountain View, CA, United States, 2013/11/21 - Frost & Sullivan: Companies opt for CMOs offering high-quality services, confidentiality and clean regulatory track records - Lifesciences.Frost.com.

   
 
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The global contract manufacturing market is growing steadily with firms allocating up to four percent of annual organization revenues for contract manufacturing organization (CMO) services, with a likely markup to 11 percent within the next three years. On average, firms partner with six CMOs, indicating high potential for business. However, the overall satisfaction and likelihood of contract renewal is fairly low - around 40 to 50 percent across all product types. To minimize vendor switching, CMOs would do well to invest in marketing their services through outlets such as tradeshows, conference booths and word-of-mouth recommendations from colleagues.

Recent customer research from Frost & Sullivan's (lifesciences.frost.com) Competing in the Global Contract Manufacturing Market analysis, which surveyed 312 global decision makers from biotechnology and pharmaceutical firms, reveals that of all parameters used in CMO agreements and selection, volume commitments ranks as the most important, followed by manufacturing capacity and site transfer capabilities.

For more information on this research, email Jennifer Carson, Corporate Communications, at jennifer.carson[.]frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

Survey respondents indicated that overall quality, clean regulatory track record, and confidentiality/security were the primary factors considered when selecting a CMO.

"While packaging, logistics and clinical trial supply are the most prevalent services currently being outsourced, organizations are particularly keen to leverage CMOs' capabilities of outsourcing drug delivery technology services in the near future," said Frost & Sullivan Customer Research Global Director Tonya Fowler. "Thirty-seven percent of respondents also stated they were likely to partner with a CMO that functioned as an external consultant, mainly in cases where they required manufacturing consulting."

Pharmaceutical and biotechnology companies have shown a preference for CMOs operating in their region and those with improving geographic reach and expertise. However, they are unlikely to outsource research and development due to concerns regarding competitive intelligence and CMOs' inability to hire key staff.

Furthermore, of the top 15 CMOs, Baxter Biopharma Solutions, Boehringer Ingelheim, and Pfizer CentreSouce have been identified as charging the highest premiums but also offer the most comprehensive range of services.

"It is important for CMOs to keep all these preferences and perceptions in mind to formulate robust strategies to effectively compete in the market and increase the level of satisfaction and loyalty among customers," remarked Fowler.

Competing in the Global Contract Manufacturing Market is a Customer Research analysis that is part of the Life Sciences Growth Partnership Service program. The research sheds light on pharmaceutical and biotechnology companies' current and future outsourcing needs and priorities, perception towards CMOs, CMO selection criteria, and decision-making dynamics, among other areas.

About Frost & Sullivan
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Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

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For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Competing in the Global Contract Manufacturing Market / ND00-52

 
 
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Contract Manufacturing Organizations Can Reduce Vendor Switching with Informational Marketing Efforts

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