According to a latest survey report published by Nice Insight, outsourcing of clinical research market to emerging countries is growing when compared to previous years.
The report titled “The Nice Insight Pharmaceutical and Biotechnology Survey” claims that about 33% of the respondents have plans to outsource their clinical research activities in the year 2012.
Nice Insight is a leading marketing intelligence and consultancy firm which currently focus on Asia’s Biotechnology and pharmaceutical markets. As of now, they serve about 300+ Pharmaceutical and Biotechnology clients. Their annual sales and investment crossed USD 20 million in the financial year 2011 as per reports.
Nice Insight conducted the survey among 40,000 pharmaceutical and biotechnology executive on quarterly basis to understand the latest trend in outsourcing clinical research.
Excerpts from the report
- About 33% of the respondents plan to outsource their clinical research for the year 2011.
- 48% of them said that they outsource Phase-I of the development, which means examining the safety of drugs.
- 39% of them respondent as they would outsource Phase II development which is designed to examine the safety and efficacy of the drugs in human for short-term period.
- 33% outsource Phase III services which confirm the efficacy and safety of the drug.
- Of the 35% of the Big Pharma companies that outsource clinical research activities, 49% of them prefer to outsource to established markets in US, Europe and Japan.
- Only 19% of the Big Pharma companies prefer to outsource to emerging markets such as Argentina, Brazil, China, India, Korea and Thailand.
- 32% of the Big Pharma companies did not consider about the market.
- With reference to Specialty Pharma segment, 37% of the respondents outsource clinical research activities.
- Among the respondents from Specialty Pharma segment, 66% of them prefer to outsource to established market and 19% of them prefer to outsource to emerging markets.
- About 16% of Specialty Pharma respondents do not consider about market while outsourcing.
- With reference to emerging pharma companies, about 18% of them outsource clinical research services.
- About 71% of respondents from emerging pharma companies, preferred to outsource to established markets.
- About 15% of the respondents from emerging pharma companies preferred to outsource to emerging markets.
- Among the respondents from emerging companies, 14% of them did not consider market while outsourcing.
- Among the biotech and emerging biotech segments, 30% and 39% of them outsourced clinical research activities.
- As with the other market segments, 61% and 69% of the biotech and emerging biotech segments also preferred to outsource to established market as opposed to 18% and 28% who preferred emerging market to outsource.
- Overall, 56 % of the respondents reported that language, communication, political stability and compliance adherence are the key criteria while considering outsourcing to overseas market.