In comparison to their larger counterparts, smaller to midsize CROs can offer several advantages when it comes to conducting clinical studies. Flexibility, quicker start-up times, and personal service are just a few of the benefits when choosing a smaller CRO to partner with.
It seems that many pharmaceutical and biotech companies are starting to see these benefits too. Findings from a recent survey suggest a shift in their preferences when it comes to selecting a contract research organisation (CRO).
Contrary to the traditional reliance on large CROs as the ‘one-stop shop’ solution, the findings reveal a growing inclination towards midsize CROs, driven by concerns over cost-effectiveness and the need for more personalised attention.
The cost-effectiveness of this ‘one-stop shop’ model offered by large CROs is coming in to question, and there seems to be growing concerns and reservations about the instability of these bigger organisations.
According to the survey, respondents cited issues such as team disruptions, limited access to top talent, and subpar service quality as major deterrents.
In contrast, midsize CROs are emerging as the preferred choice due to their agility, personal attention, and access to senior-level expertise. The survey revealed that 83% of respondents acknowledged the agility of midsize CROs as a significant advantage, allowing for greater flexibility and responsiveness in adapting to evolving research needs. Alongside this, 79% of respondents valued the personalised attention offered by midsize CROs, which fosters stronger, more collaborative partnerships compared to the transactional nature often associated with larger CROs. In a nutshell, Sponsors don’t want to be treated as just another study number and instead are opting for personal service, agile capabilities, and direct access to expertise.
These recent findings indicate a notable shift in the landscape of CRO preferences, with a projected net gain of 5% in favour of midsize CROs over the next three years. This shift reflects a growing recognition among pharmaceutical and biotech companies of the value proposition offered by midsize CROs, particularly in terms of their ability to deliver cost-effective solutions without compromising on quality or personalised attention.
At MAC, we take a personal and collaborative approach when it comes to conducting studies. We have a wealth of expertise within our business and believe that this is instrumental in securing the best study outcomes.
As a bespoke CRO, we understand the importance of tailored solutions, fast timeliness, and collaborative teamwork in achieving successful study outcomes. Speak to our team today to discover how our personal approach and expertise can support your study.
Source: https://www.clinicaltrialsarena.com/news
If you would like more information on how we can support your study, contact us here.
