Late Phase Study Trends

July 18, 2016

This recent report explores key factors behind customer satisfaction and other dynamics within the Late Phase market.

Every service provider wants their customers to be satisfied with a completed engagement. In that case, knowing what drives customer satisfaction with an outsourced project would be helpful to know, right? Industry Standard Research’s Late Phase Study Trends and Market Outlook (2016-2020) report digs into key factors behind customer satisfaction as well as many other dynamics within the Late Phase market.   Late Phase decision-makers rank Overall timelines management as the attribute that contributes most to a sponsor’s satisfaction with a CRO’s Late Phase services. The provider must deliver according to timelines to have a happy sponsor at the end of a project. Following this is Site / Patient recruitment effectiveness, another metric tied to timeline efficiency during a project. If sites and patients cannot be recruited in an effective and efficient manner, both timelines and study budgets will suffer, resulting in a less than pleased customer.   Drivers for CRO selection and drivers for satisfaction do not necessarily go hand in hand. The reasons why a CRO is chosen for work may be very different from what will make a sponsor feel satisfied with a finished project. While Overall timelines management is the most important driver of sponsor satisfaction, a similar attribute, Confidence the provider will meet timelines, is only middle-of-the-road when it comes to importance in the provider selection process. A similar example may be selecting a handyman to complete odd jobs around your house. You might hire a handyman based on their experience and knowledge but if that handyman takes a month to fix a leaky faucet, you are not going to be a satisfied customer.   “In your experience with CROs and Late Phase services, what usually drives your satisfaction with CRO performance? Rank the following from most important (number 1) to least important (number 8) to your satisfaction with CRO performance.” (n=102)  

  ISR has also gathered insights regarding a host of other topics in the Late Phase space including:

  • Late Phase company spend for the past 12 months and projected spend in 2020 by study design (Interventional trials and Observational research) and by study type (Post-marketing Safety studies, Health Economics and Outcomes Research, and Expanded Access studies)

  • Outsourced proportions of Late Phase work for the past 12 months and projected proportions in 2020 by study design and study type

  • Key decision-makers for various components of the Late Phase study outsourcing process

  • Use of preferred providers

  • Selection drivers for providers across multiple types of Late Phase studies

  • Late Phase trends including the importance of technology, the pervasiveness of EMR data, the global nature of studies, and the use of existing vs. newly collected, purpose-driven data

The

Late Phase Study Trends and Market Outlook (2016-2020)

report is designed to assist those interested in the Late Phase market in not only remaining current with market happenings but in getting a jump on what the market is expected to look like in 2020. Learn more about the report at:

https://www.isrreports.com/reports/late-phase-study-trends-market-outlook-2016-2020/