MENLO PARK, Calif., Oct. 7, 2015 /PRNewswire/ -- Life Science Strategy Group (LSSG) the leading strategic consulting firm to the CRO industry, is pleased to announce the results of a new 2015 study, Clinical CRO Future Industry Leadership & Performance Benchmarking, which focuses on clinical CRO operational performance, future industry leadership and direction. The quantitative study surveyed more than 160 clinical biopharmaceutical decision makers and reveals new trends in CRO leadership, including views on which CROs are making the investments today that will drive future success.
The findings, which represent input from small, mid-sized and large biopharmaceutical companies globally, indicate Covance with 29% of responses and Quintiles with 23% being the top two CROs perceived to be "making the right moves to be successful in the future." These two companies, in addition to Parexel and PPD, also lead the pack of CROs that sponsors expect to have an increasing leadership presence over the coming years.
Investments being made by CROs today that are perceived to correlate with future strength include the ability to use technology to support improved patient recruitment, advanced informatics for site selection and feasibility, and therapeutic expertise. "While we still see patient recruitment, study start-up, and on-time delivery as key performance factors influencing perceptions of leadership today, it is interesting to see the correlation of scores from Covance, Parexeland Quintiles for their technology and informatics strength with the companies most likely to be future leaders in the category," said Jon Meyer, Life Science Strategy Group's CRO Industry Practice Leader.
The study also identifies trends driving the selection and performance of clinical CROs, including the increased importance on data accuracy and communication, among other areas. "Our study explores satisfaction with different trial conduct activities and identifies key gaps between CRO service delivery and customer expectations. Surprisingly, despite its vital role in vendor selection and satisfaction, communication with the Sponsor remains a top unmet need," said Meyer.
To learn more about LSSG's new study containing developing outsourcing trends as well as benchmark data on operational performance of Covance, ICON, inVentiv Health Clinical, INC Research, Parexel, PPD, PRA International and Quintiles, please contact Life Science Strategy Group or click on the link below.
About Life Science Strategy Group, LLC
Life Science Strategy Group, LLC specializes in strategic consulting and market research engagements across a variety of therapeutic, technology and service industries including contract research services, pharmaceutical, biotechnology, medical devices, diagnostics and drug discovery.
SOURCE Life Science Strategy Group