The global economy is changing, and the pharmaceutical, biotech, and medical device companies are progressively looking to outsource critical functions, including research and manufacturing of the therapeutic drugs and medical devices. Many major corporations are outsourcing clinical trials, drug discovery, drug development, outsourcing, and various other services to Contract Research Organizations (CROs) as a result of the increasing size, complexity, duration, and costs. Primarily, for Europe-based CROs, the areas impacting the sphere are the globalization of CRO and strict regulatory guidelines by the EU Clinical Trials Directives. The EU directive continues creating challenges for the trials in Europe-based CROs through reinvigorating compliance standards for leading CROs. This has further triggered the need for efficient trial methods for working on more targeted theories.
The CRO industry has grown from providing limited clinical trial services in the 1970s to a full-service sector characterized by broad relationships with clients and by service offerings that encompass the entire drug development process. Besides, CROs provide services that generate high quality and timely data in support of applications for regulatory approval of new drugs or reformulations of existing drugs as well as new and existing marketing claims. CROs leverage selected information technologies and procedures to efficiently capture, manage, and analyze the large streams of data generated during a clinical trial. Additionally, the application of advanced technology and analytics is creating a new pool of opportunities by bringing forth cutting-edge approaches for trial designs, site selections, and patient recruitments. For instance, virtual clinical trials can enable CROs to be more effective and patient-centric as it enables them to create a more personalized approach that reduces the burden on patients. Technologies like Artificial intelligence and machine learning are also bringing in increased efficiencies to the statistical analysis and programming of clinical data along with the increasing costs in drug development.
Understanding the changing times, Pharma Tech Outlook has compiled a list of Top 10 CROs in Europe to guide companies associated with the pharmaceutical sector in harnessing the power of technology to leverage digital capabilities in critical functions including research and manufacturing of the therapeutic drugs and medical devices, while simultaneously broaden treatment options and help improve patient health. In this edition, we are glad to feature CROs like 3Z Pharmaceuticals, Ephyx Neuroscience, and Health Data Specialists (HeaDS) that are at the forefront of revolutionizing the pharmaceutical space through their groundbreaking clinical research solutions and services.
With several innovative technological capabilities and success stories up its sleeves, these are continually proving its mettle in the field of CRO in Pharma tech. We hope this issue of the Pharma Tech Outlook helps you build the partnership you and your firm needs to foster a technologically-driven pharmaceutical landscape.
We present to you Pharma Tech Outlooks’ “Top 10 CROs in Europe – 2019.”