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Specialty clinical research organizations are distinct service providers in clinical research domain with expertise based on different criteria. Earlier pharmaceutical and biotech firms, which are research driven had conducted majority of the clinical research. However, since last two decades, most of the clinical trial tasks such as lead discovery, preclinical studies, and different phases of clinical trials have been slowly outsourced to external clinical research firms. These firms gained operational expertise, geographic reach, and necessary infrastructure to efficiently conduct different clinical research activities, in order to speed up the drug discovery process. This helps pharmaceutical and biotech firms to launch novel therapies in the quickest possible time. Specialty clinical research organizations goes one step ahead from conventional multitasking clinical research organization. They gained proficiency in one or more niche segments amongst the large ecosystem of clinical research industry, thereby offering improved quality of service to the sponsors.
Specialty CROs offers advantage over conventional CROs, as they are focused on specific area of application based either on therapeutic area or specialty service they offer. Specialty CROs offer solutions to the problems in clinical research such as increasing developmental cost, high rate of lead candidate failure during clinical trial, and stringent regulatory demands such as clinical protocols across the globe. Although it is still considered as an emerging model across the globe, it is gaining significant traction in the Asian economies. Specialty CROs are playing a major role in mid-size or small pharmaceutical and biotech firms, which are working in niche area and has unique clinical research needs. Moreover, they offer cost effective and economical services as compared with large CROs. Large CROs are increasingly focusing on approaching specialty CROs, as they find it difficult to cater to unique problems.
Specialty CROs are majorly providing services to the pharmaceutical and biotech companies and this is expected to gain traction in the near future, owing to increased research and development activities by these companies. Pharmaceutical and biotech companies are engaged in discovering novel molecules to treat chronic diseases such as cancer and cardiovascular diseases. According to a report published by the International Federation of Pharmaceutical Manufacturer and Association in 2017, pharmaceutical industry invested around US$ 149.8 billion on research and development annually. The companies are downsizing this cost by outsourcing clinical research activities.
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Table of Contents
Top players in the market
Some of key players operating in the specialty CROs market include Charles River Laboratories, Profil Abiogenesis Clinpharm, Accell Clinical Research, Accelovance, Aclires, Acquipharma, Cytespace Africa, DATATRAK International, Afraxis, David H Murdock Research Institute, DaVita Clinical Research, Gateway Pharmacology Laboratories, SAGE Labs, and Velesco Pharmaceutical Services.
Research methodology adopted by Coherent Market Insights
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
• Primary Research (Trade Surveys and Experts Interviews)
• Desk Research
• Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
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