US and European Phase 2 Clinical Trial Services Market Assessment
A top-ten, global contract research organization (CRO) sought to gain greater visibility into the current size and growth dynamics of the market for outsourced Phase 2 clinical trial services, to explore customer preferences and purchasing behavior for outsourced services and to assess its current position and future revenue opportunity in the competitive landscape.
Approach & Results
Life Science Strategy Group´s (LSSG) consultants worked with its client to design and execute a comprehensive research methodology that included 30 in–depth interviews and 100 Internet surveys with key stakeholders responsible for the contracting of Phase 2 clinical trial services at pharmaceutical companies in the US and Europe. The engagement methodology included detailed market modeling and market segmentation based on service type, customer type, and geographic region and detailed assessment of the client’s performance versus several key competitors. LSSG´s interactive research and analysis approach yielded a robust Phase 2 clinical trial services market forecast model, rich insight into customer preferences and purchasing behavior, current (blinded) feedback into the client’s performance and as well as several of its leading competitors. Ultimately, the client utilized LSSG´s conclusions and strategic recommendations to support its strategic planning for its Phase 2 service offering.