2013 drew to a close leaving behind a number of strong trends within the early phase clinical trial market that will continue to impact 2014.
- The major trend that was seen throughout the year was the staggering increase in the number of Mergers & Acquisitions between Global CROs - Specialist CROs and CRO - Academia. The sharp rise accounted to greater than 60% when compared to 2012.
- The market continues to evolve with more targeted studies on patient's coming into the place of healthy volunteer studies. The regulatory stringency in emerging markets over the conduct of early phase trials have intervened the CROs to shut down units rather than incurring loss in their early development service revenues.
- Project based model continues to remain the most preferred in the pharmaceutical industry with an estimated adoption rate of 50%, although innovative sourcing practice through insourcing could be a promising alternative in 2014.
Author: Mathini Ilancheran