The emergence of niche capability providers in preclinical testing and technology dependence is also expected to result in numerous partnerships and alliances, fuelling growth opportunities in this sector.
"There is every reason to believe that the solution for faster screening of candidates and increasing pressure on costs is gaining momentum in the right direction," notes Frost & Sullivan (pharma.frost.com) Senior Research Analyst V. Sriram. "The compelling advantages of microdosing present it as a potential remedy for big pharma's maladies regarding declining returns from investments in drug development."
Alliances between contract research organisations (CROs) in the US and Europe have not historically been common. This is due to several factors including the industry's strong growth and relatively low technology demands for clinical testing. However, developments in microdosing should see a number of opportunities being investigated.
Consolidation within the CRO space has led to concerns over the quality of service and attention to detail. Companies must however ensure the quality of their services to maintain their bargaining power with the pharmaceutical companies.
"CROs face the challenge of competitively aligning their services to meet customer needs in order to overcome the threat of losing their stronghold and loyalty," comments Sriram.
Developing the technological know-how and expertise on niche capabilities will help CROs retain their client base. This can be achieved in-house or by partnerships with pioneers in the provision of niche capability, allowing for the creation of a one-stop shop solution.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the study, Strategic Analysis of Opportunities in the CRO Market - Phase 0, then send an email to Katja Feick, Corporate Communications, at katja.feick[.]frost.com. Please include your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
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Strategic Analysis of Opportunities in the CRO Market - Phase 0