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Clinical Staffing Services

Staff employed for the clinical trial industry.

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N2Growth Inc. acquired FluidMind Consulting

July 04, 2022
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Savings Achieved

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The average annual savings achieved in Clinical Staffing Services category is 5.40%

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The industry average payment terms in Clinical Staffing Services category for the current quarter is 73.4 days

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    Clinical Staffing Services Suppliers


    4,752
    Total Suppliers
    433
    Diverse Suppliers
    74
    Normalized Supplier Rating
    Clinical Staffing Services Supplier

    Find the right-fit clinical staffing services supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    IQVIA HOLDINGS INC.
    Location
    Jackson, Mississipi
    Duns number
    3862211

    D&B SER Rating

    dnb logo

    Up to 3 months

    1 9
    4
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile

    Company and Sector Performance
    36

    100
    Limited (1)
    ESG Perfomance (/100)
    Environment
    41
    Social
    30
    Governance
    43
    6 Domains Performance (/100)
    Business behaviour
    48
    Human rights
    39
    Community Environment
    31
    Corporate governance
    40
    Human resources
    22
    Security Scorecard
    77

    Threat indicators
    C
    75
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    D
    63
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    C
    70
    Application Security
    Detecting common website application vulnerbilities
    C
    77
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    D
    60
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked

    Industry Comparison
    iqvia.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    1
    Human Rights Issues
    0
    Production Supply Chain Issues
    0
    Environmental Non Compliance Flags
    1
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    2
    Fraud Issues
    0
    Labor Health Safety Flags
    0
    Regulatory Issues
    2
    Workforce Disputes
    0
    Sanctions
    0
    esg energy transition
    28
    Discrimination Workforce Rights Issues
    0
    esg controversies critical severity
    No

    Clinical Staffing Services market report transcript


    Global Clinical Staffing Services Market Outlook

    • The global demand is expected to grow at approx. 7 percent CAGR through 2020-2025
    • Increasing complexity associated with clinicaItrials in terms of protocol, study procedures, trial design, volunteer recruitment and globalization of clinical trials demanding regional regulatory compliance are the major factors driving the market.
    • Availability of large talent pool coupled with cost savings opportunity due to reduced labour wage is shifting the focus to emerging nations
    • Large CROs have been continuously expanding their supply base through acquisitions and partnerships to provide integrated services

    Clinical Staffing Market

    • Life sciences and biotechnology companies are increasing their use of outsourced labor through CROs and staffing firms to meet the increased capacity of their workforce. As a result of outsourcing, these clients will benefit from cost structure advantages, improved flexibility in addressing fluctuating demand, and access to greater expertise
    • Between 2008 to 2016, the biggest surge of newly registered trials was seen in the regions of East Asia (+220 percent), Japan (+90 percent), South Asia (+45 percent), Southeast Asia (+45 percent), the Middle East (+35 percent), Africa (+30 percent) and Latin America (+20 percent). The developed markets of the US and Europe saw a rise of +36 percent and +32 percent respectively; thus, increasing the demand for clinical staffing
    • Due to the increased demand for skilled clinical resources globally, many established CROs like ICON, PRAHS, Parexel, PPDi, Quintiles etc., have expanded their functional services into clinical functional resourcing services

    Growth Drivers and Constraints

    Drivers

    Clinical Trials Increase Drives Clinical Staffing Needs:

    • An increase in newly registered trials was seen in the regions of East Asia (+220 percent), Japan (+90 percent), South Asia (+45 percent), Southeast Asia (+45 percent), the Middle East (+35 percent), Africa (+30 percent) and Latin America (+20 percent).The developed markets of the US and Europe saw a rise of +36 percent and +32 percent respectively.

    Demand from Multiple Client Bases:

    • Though pharma companies have the biggest spend (> 40 percent) in terms of clinical staffing, suppliers also cater to medical device, biotechnology, consumer health etc.

    Diversification in Clinical Trial Types:

    • The conduct of small population studies in various therapeutic areas such as Oncology, Rare Diseases, across regions has created a need to have staff specialized in a particular TA with the local regulatory know-how

    Constraints

    Local Regulations:

    • Stringent regulations to conduct trials in certain emerging markets has restricted suppliers to provide resourcing solutions in these markets.

    Limited Resource Availability:

    • Though markets of the US and Europe have >22 percent turnover rates for clinical/scientific staff, the emerging markets of Japan and China have limited number of qualified employees. This in turn causes a supply crunch, slowing down the staffing market.

    Clinical Staffing Market Trends

    CROs Expansion into Staffing

    • With increasing clinical trials globally, CROs are setting up FSP units for staffing, wherein CROs engage with pharma companies through master vendor/supplier, function service provider or hybrid model
    • As a result of war on talent and increasing demand for clinical resources, CROs will continue to establish functional resourcing units either as a separate entity (Docs Global of Icon) or have FSP units - CoSource of Covance

    Stabilized Mergers & Acquisition's

    • The year 2016 saw a 29 percent expansion, from 50 percent in 2013, wherein CROs where expanding their FSP capabilities globally across therapies; and client sectors like medical device, diagnostics
    • Slow and stable M&A's will continue as major CROs have already set up FSP resourcing units
    • UK healthcare staffing provider, Independent Clinical Services, acquired Proclinical.
    • ProClinical complements the ICS life sciences staffing brand, also its presence in five countries will help ICS grow in the global life science staffing market

    CRO turnover rates increase

    • Turnover for clinical monitoring jobs among CROs saw an increase of up to 25 percent in 2016 from 16.4 percent in 2014 globally
    • This was a result of the 7 percent salary increase, with CRAs getting the highest hike. Additionally, signing and retention bonuses were implemented by CROs

    War on Talent

    • Pharma is balancing between overall cost reduction objective and rising FTE rates. Shortened contract terms to manage risk at a gradually growing FTE rate is observed
    • This is due to CROs paying high salary along with performance bonus to retain talent
    • The war of talent will further increase, creating higher demand for CRA's. CROs will continue to pay premiums to retain talent

    Future Trends

    • Mid size CROs would further expand into resourcing, as the demand for insourcing and FSP models from pharma companies would increase
    • CROs would in the future move more jobs to low cost countries for certain job roles(data management, biostatistics etc.), thus freeing up spend for other key areas such as clinical monitoring
    • Internal talent development programs within CROs would be seen as an alternative to retain and build talent

    Clinical Staffing Market Overview

    • The clinical trial staffing market is a high margin market due to increasing clinical trials globally and high demand for resources. This will help CROs expand into clinical staffing with benefits of insourcing and flexible staffing in the future.

    • Staffing companies compete among each other for the market share by winning MSP deals with huge hiring across industries.

    • Lifesciences staffing companies target pharma, biotech, medical device, consumer health etc., to increase their client base and portray themselves as specialists.

    • CROs, on the other hand, are expanding into staffing by creating functional units for resourcing to compete with staffing companies.

    • The clinical staffing market is fragmented. However, 10–15 players hold greater than 70 percent of the market share. There is diversification among suppliers with each of them specializing in a different service category.

    • Labor is a critical cost component of a trial conduct.

    Why You Should Buy This Report

    • Information about clinical staffing market analysis, trends, drivers and constraints and Porter’s five force analysis of the global clinical staffing market. 
    • Technology trends, supplier landscape, list of major suppliers, 
    • Access to engagement models, sourcing models, cost analysis, pricing analysis, key performance indicators.