The rising number of chronic diseases and their immense cost burden on healthcare systems is creating the need for personalized, innovative medicine and drugs in the market. This growing need for new drugs has resulted in an increase in R&D investment by biopharmaceutical companies. However, the pharma and biotech industries are under tremendous pressure to maintain consistent innovation in less time, using fewer resources than before. To that end, companies in these industries are looking for effective partners who can help them accelerate their journey toward new breakthroughs in drug development. With expert partners on their side, the pharma and biotech firms can use their internal resources for more value-added tasks and drive the business outcomes.
Aligning with the latest compliance regulations in the industry, bioanalytical services companies can serve pharma and biotech firms of all sizes in the areas of drug development at both preclinical and clinical stages. The pharma and biotech companies can outsource testing to efficient contract research organizations (CROs) to curtail operational expenditure costs and propel market growth over the forecast period. With in-depth knowledge of using cutting-edge analytical tools, the CROs can play a central role in the inspection, verification, testing of the various biomarkers and molecules. Using industry best practices and experience, the CROs can boost the confidence of the drug manufacturers in releasing their products to the market faster and maintain an edge in the market.
We hope this issue of Pharma Tech Outlook helps you build the partnership you and your firm need to enable technology-driven bioanalytical services.
We present to you Pharma Tech Outlook’s “Top 10 Bioanalytical Services Companies 2019.”