Contract Research Organization Market - What Pharmaceutical and Biotechnology Companies WantDUBLIN, Ireland--(BUSINESS WIRE)--Jan 7, 2008 - Research and Markets (http://www.researchandmarkets.com/reports/c78706) has announced the addition of "Contract Research Organization Market- What Pharmaceutical and Biotechnology Companies Want" to their offering.
This completed Frost & Sullivan research consists of 3 titles: Competing for CRO Business in Japan, S Korea, Australia: What Pharmaceutical and Biotechnology Companies Want. Competing for Domestic CRO Business in China: What Pharmaceutical and Biotechnology Companies Want and Competing for CRO Business in India: What Pharmaceutical and Biotechnology Companies Want. Each of them provides an understanding of the key motivations for companies to outsource drug development and the benefits that they seek and experience from outsourcing. The criteria that pharmaceutical and biotechnology companies use to select their CRO partners are also highlighted. This would help CROs that already operate in these markets, or those that plan to start operations in them, to fine tune/develop strategies to achieve enhanced competitiveness.
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Geographic Region:
Heightened Outsourced Drug Development Activity Driving the Growth of Contract Research Organizations
The Asia Pacific region is poised to witness heightened activity in terms of outsourced drug development, making the market highly competitive as well as fertile for the emergence of domestic and smaller contract research organizations (CROs). Presently, India and China are the preferred contract research outsourcing destinations in Asia and are likely to witness substantial growth in CRO-conducted clinical trials. The other countries that are likely to experience increased activity are Australia, Taiwan, Hong Kong, and to an extent, South Korea. Frost & Sullivan estimates that Asian CRO markets (phase I-IV) earned revenues of $1.2 billion in 2006 and estimates this to reach $2 billion in 2010.
With regard to China, preclinical, phase I and phase II are the stages where relatively more outsourcing takes place. While CRO budgets across all phases are projected to increase in the next 12-24 months, the quantum of increase for phase II, phase III, and phase IV trial budgets is likely to be higher than preclinical and phase I budgets. "In the next 24 months, urology and musculoskeletal/arthritis are expected to be the most outsourced research areas," notes the analyst of this research service. "The potential for CROs lies in expanding the existing strengths in musculoskeletal/arthritis and urology and maintaining capabilities in oncology, cardiovascular, dermatology, and gastroenterology."
Cost and Technology Advantages along with Large Patient Pools Contribute to Indian Market's Growth
The large number of drugs that will become generic in the near future, cost, technological advantage, and large patient pools are some of the factors that are likely to drive the imminent boom in outsourcing to India. In India, outsourcing largely takes place between phases II-IV, and interactive voice response systems (IVRS) as well as medical diagnostics are the services that are outsourced the most. While cardiovascular, central nervous system (CNS), and metabolic diseases are the research areas that are currently the most outsourced, oncology is likely to show an increase in outsourcing in the next two years.
With regard to Japan, South Korea, and Australia, CNS is likely to be among the most outsourced research area in all three countries. Potential areas for future outsourcing in Japan also include allergy/respiratory, pain management, and dermatology. "Overall, price, quality, therapeutic expertise, resource availability, and service capability are the key factors determining the choice of CRO," says the analyst. "Although most claim neutrality to price in the CRO selection process, it emerges as a key source of dissatisfaction, thereby indicating that it does play an important role."
For more information, visit http://www.researchandmarkets.com/reports/c78706
Research and Markets
Laura Wood, Senior Manager
Fax: +353 1 4100 980
Posted: January 2008
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