Menlo Park, CA, April 30, 2020 --(PR.com
)-- Life Science Strategy Group (LSSG), the leading strategic consulting firm to the CRO industry, is pleased to announce the launch of its new syndicated report, "COVID-19 Impact on the Biopharmaceutical Industry and CRO Outsourcing - 2020." This landmark study of 120 biopharmaceutical industry clinical development outsourcing decision makers in the US, Europe and China provides quantitative analysis, metrics, and insights into biopharmaceutical clinical development budgets, activity, outsourcing to CROs and future outlook in 2020. CROs highlighted by respondents in the report include Covance, ICON, IQVIA, PAREXEL, PPD, PRA Health Sciences and Syneos Health among others.
The market research was conducted to better understand how and to what degree COVID-19 is impacting the biopharmaceutical industry, drug development activity and CRO outsourcing in the first half of 2020. The report also examines the outlook for the second half of 2020, what CROs are best positioned to capitalize on COVID-19 opportunities and which capabilities and services will biopharmaceutical sponsors increasingly need from CROs. According to Jon Meyer, Principal, Life Science Strategy Group, "Not surprisingly, we see that COVID-19 has dealt a significant blow to clinical development budgets, activity and outsourcing as patients shelter-in-place, as non-essential activities stop and biopharmaceutical sponsors rethink how to adapt the drug development paradigm to the new reality. The good news is that the biopharmaceutical industry has a positive outlook on the second half of 2020 and the quantitative results reflect that. Companies are 'rethinking' the traditional clinical trial, retooling and implementing innovative designs, remote patient-level technologies and leveraging the growing body of available, real-world data to overcome the challenges posed by COVID-19."
To learn more about the impact of COVID-19 on the biopharmaceutical industry, CRO outsourcing and perceptions of CRO providers best prepared to support future biopharmaceutical clinical development needs, or to download sample pages from the report, visit https://lifesciencestrategy.com/publications
About Life Science Strategy Group, LLC
Life Science Strategy Group, LLC is a consultancy specializing in strategic consulting, market research engagements and syndicated publications across a variety of therapeutic, technology and service industries including contract research services, pharmaceutical, biotechnology, medical devices, diagnostics and drug discovery.