Market Research Report
Specialty CROs Market, 2016 - 2025
|Published by||ROOTS ANALYSIS||Product code||352701|
|Published||Content info||321 Pages
Delivery time: 1-2 business days
|Specialty CROs Market, 2016 - 2025|
|Published: February 12, 2016||Content info: 321 Pages||
The biopharmaceutical industry has been witnessing a significant paradigm shift in R&D outsourcing over the last few years. Specialty CROs have emerged as credible players in the market to overcome the shortcomings of full service / traditional CROs. Often, these full service providers offer a wider portfolio of services but fail to align their efforts to meet the requirements of sponsors, primarily the smaller biotech organisations / start-ups. Specialty CROs, on the other hand, specialize in niche areas catering to either specific clinical / preclinical services or providing services in a particular disease area. Oncology, cardiovascular, metabolic disorders and CNS are some of the popular therapeutic areas that have witnessed a rise in the number of specialty CROs. Typically outsourced services include data management, site monitoring and project management but nowadays core services such as pharmacovigilance, target evaluation, formulation development, cell line development, toxicology studies and medical imaging are also being outsourced to these CROs. Specialty CROs are increasingly adopting the strategic CRO model to expand their services and geographical presence in an effort to broaden the scope of serving the global biopharmaceutical industry.
Despite the widening array of services offered by these CROs, they have found it challenging to gain a higher share in the market, which is currently dominated by larger and more well-established players. Considering that a major proportion of revenues for large CROs is generated by big pharma companies, gaps exist when it comes to providing services to smaller pharma / biotech companies. This provides an opportunity to specialty CROs to offer improved, customized and relatively economical services to newer / smaller clients in the sector.
As the demand of novel therapies for various therapeutic areas is expected to rise steadily, we are optimistic about the future of these smaller research firms, which have driven an innovative approach to drug research and development. There are a number of upcoming opportunities that can enrich the service portfolio of speciality CROs gradually strengthening their presence in an otherwise consolidated market.
The “Specialty CROs Market, 2016-2025” report delivers a comprehensive study on Contract Research Organizations (CROs) that provide a specialized set of research capabilities centred on a particular stage of clinical development or a range of services in a focused therapeutic area. The outsourcing model has proven to be extremely beneficial to drug developers catering to the unmet research, clinical development and even regulatory needs of both established players and start-ups in the market. The concept of specialty CROs continues to evolve as these organizations adopt new strategies to provide their sponsors improved services in terms of both quality and efficiency. Novel business models and strategic partnerships among established and emerging players have opened new avenues to effectively tackle issues such as rising development costs, inefficient protocols and unorganized business processes.
The report assesses key drivers that have governed the evolution of specialty CROs over the past several years, along with an elaborate discussion on the upcoming trends that will likely shape the market in the coming years. In fact, one of the primary objectives of this study is to develop an understanding of the likely future evolution of the market for specialty CROs over the short-term and long-term.
The study presents an in-depth analysis of a diverse set of specialty CROs on some of the key parameters such as geographical location, types of services being offered and focused therapeutic areas. In addition, it captures the potential growth areas that will likely present opportunities for these companies and sustain the pace of growth. It is worth highlighting that despite the fact that established pharmaceutical companies have in-house R&D and clinical development capabilities, the opportunity for specialty CROs is growing. The future evolution of this market will be primarily driven by the relatively fast paced growth of the overall pharma industry and the innovations / developments taking place in R&D. The report provides short-midterm and long-term market forecasts for the period 2016-2020 and 2020-2025, respectively. To add robustness to our forecast model, we have provided three market scenarios. The conservative, base and optimistic scenarios represent three different tracks of market evolution. The research, analysis and insights presented in this report are backed by a comprehensive survey on capabilities of several specialty CROs. For the purpose of our analysis, we also interviewed important stakeholders in this market to solicit their opinions around the future opportunities and challenges that must be considered for a more inclusive growth.
Most of the data presented in this report has been gathered by secondary research. We have also conducted interviews with experts in the area (academia, industry, medical practice and other associations) to solicit their opinions on emerging trends in the market. This is primarily useful for us to draw out our own opinion on how the market will shape up across different regions and drug segments. Where possible, the available data has been checked for accuracy from multiple sources of information.
The secondary sources of information include:
While the focus has been on forecasting the market over the coming ten years, the report also provides our independent view on various technological and non-commercial trends emerging in the industry. This opinion is solely based on our knowledge, research and understanding of the relevant market gathered from various secondary and primary sources of information.
Chapter 2 provides an executive summary of the insights captured during our research. The summary offers a high level view on the present scenario of the specialty CRO market and where it is headed in the mid-long term.
Chapter 3 provides a general introduction to CROs. In this chapter, we have discussed, in detail, the evolution of CROs. We have also presented a highly comprehensive CRO services map to highlight the range of services being offered by a large number of CROs operating in different locations worldwide.
Chapter 4 presents specific details on specialty CROs. It provides information about the functioning of specialty CROs along with the specific areas of specialization. We have also discussed the advantages that specialty CROs bring over conventional CROs, focusing on new business models, strategic partnerships and relatively more efficient / integrated business processes.
Chapter 5 provides a holistic global landscape of specialty CROs that we identified in our research. This chapter highlights key aspects of these companies such as their geographical location, year of establishment and R&D capabilities (categorized in terms of specific therapeutic areas and services capabilities offered).
Chapter 6 provides profiles of 18 specialty CROs focused on specialized preclinical / clinical service offering. Each company profile includes an overview of the company, service portfolio, collaborations and associated developments that have recently taken place.
Chapter 7 provides profiles of 12 specialty CROs focused on a particular therapeutic area. Each company profile includes an overview of the company, service portfolio, collaborations and associated developments that have recently taken place.
Chapter 8 is a case study on virtual CROs. We have discussed, in detail, the virtually integrated, cross-functional outsourcing approach implemented by these organizations. In this chapter, we have also focused on various clinical research partnership models that are applied by CROs and their sponsors. The case study also includes profiles of six virtual CROs, some of which are leading players in the market.
Chapter 9 is a case study on full-service CROs. The one-stop-shop approach followed by traditional CROs has been captured in detail in this section. The case study includes profiles of four CROs, some of which are leading players in the market.
Chapter 10 presents a detailed ten year forecast highlighting the future potential for specialty CROs. Due to the uncertainty surrounding some of the key assumptions, we have presented three different evolution scenarios for the overall market.
Chapter 11 highlights important trends that provide opportunities to specialty CRO to consolidate their presence in this competitive market; amongst others, these include Health Economics and Outcomes Research (HEOR) studies, adaptive trials, eClinical solutions and risk-based monitoring (RBM).
Chapter 12 is a collection of transcript of interviews conducted with key players during the course of this study.
Chapter 13 summarises the overall report. In this chapter, we have provided a recap of the key takeaways and our overall opinion on where the market is headed in the mid-long term.
Chapter 14 is an appendix, which provides tabulated data and numbers for all the figures provided in the report.
Chapter 15 is an appendix, which provides a list of companies and organizations mentioned in the report.
Chapter 16 is an appendix, which provides a glossary of the CRO services map.
The following companies and organisations have been mentioned in this report.