CARY, N.C.--Industry Standard Research (ISR) today announced the release of a new market report titled 2013 Late Phase Market Overview and Outlook which provides the pharmaceutical industry and its service providers with new insights into this rapidly growing segment of clinical trials.
"Over the last several years, the industry has seen an increase in Late Phase, or post-marketing studies, intended to establish long-term safety and efficacy profiles for pharmaceutical drugs," explained Kevin Olson, CEO of ISR. "This trend was reflected in ISR's research, which projects an increase into conduct of all Late Phase study types evaluated. The study types expected to see the greatest levels of growth are health economics outcomes research (HEOR) and Phase IV studies."
ISR's market analysis includes the following study types: Phase IV, Phase IIIb, HEOR, registries, and comparative effectiveness research (CER).
In addition to an analysis of the growth and decline of Late Phase study conduct and outsourcing, ISR's report provides data on a number of industry market dynamics, including: a 3-year history of Phase IV studies, usage data for Late Phase clinical service providers, and detailed analysis of sponsors' decision-making structures for Late Phase studies, including departmental responsibilities for study design, resourcing, budgets, RFPs, and CRO selection and management.
"ISR found several key criteria that sponsors use when selecting clinical service providers for Late Phase studies," Olson explained. "While criteria vary across all five Late Phase study types, providers that demonstrate extensive experience with the specific study type in question are selected more often than those that show limited or moderate experience. The report also indicates that while 'cost' was not a major factor in selection, it was the number one reason for non-awards."
ISR's report was developed based on data from 129 industry professionals with responsibility for Late Phase study conduct and outsourcing. More information is available at www.ISRreports.com/industry-reports/2013-late-phase-market-overview-and-outlook.
About Industry Standard Research
Industry Standard Research is the premier, full service market research provider to the pharma and pharma services industries. With over a decade of experience, ISR delivers an unmatched level of domain expertise. For more information about our off-the-shelf intelligence and custom research offerings, please visit the company's Web site at www.ISRreports.com, email [email protected], or follow us on Twitter @ISRreports.