LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has launched three procurement research reports on the pharma and healthcare category. To help clients understand the current supply landscape of the pharma and healthcare sector, analysts have covered reports such as ‘Bulk Drug Raw Materials Procurement Research Report’, ‘Pharmaceutical Formulations Procurement Research Report’, and ‘Pharmaceutical Drug Development Services Procurement Research Report’.
Global Bulk Drug Raw Materials Category - Procurement Market Intelligence Report:
The growth of the bulk drug raw materials market can be attributed to the rise in demand for generic drugs due to their low-price. Also, the adoption of technology helps in improving the manufacturing processes. Adoption of nanotechnology helps suppliers in enhancing the efficacy and customization aspect of drug materials. The technological advancements in this market are further fueled by the increase in investments by suppliers in R&D.
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Bulk Drug Raw Materials – Procurement Challenges:
- The issues related to the quality of materials procured from emerging countries.
- The challenges in managing multiple suppliers.
To overcome the above-mentioned procurement challenges, the buyers in the bulk drug raw materials market should engage with third-party audit service providers that check the suppliers business operations. They should also integrate big data analytics in sourcing processes, as it offers a better transparency in the supply chain as it enables real-time visibility of the data by either party.
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Global Pharmaceutical Formulations Category - Procurement Market Intelligence Report:
The growth of the pharmaceutical formulations market can attributed to the rise in demand for pediatric formulations along with formulations that possess enhanced bioavailability. Also, this market is experiencing a high demand for specialized and novel formulation approaches with the shortest TAT. Moreover, the use of delivery technologies helps in improving patient experience, reducing the volume required for each dosage, and it also minimizes the side-effects associated with the formulation.
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Pharmaceutical Formulations – Procurement Challenges:
- The issues arising due to non-compliance by suppliers.
- Poor validation of equipment and instruments.
To overcome the above-mentioned procurement challenges, the buyers in the pharmaceutical formulations market should identify and engage with suppliers that use the DOE approach, as it is useful in the formulation process which includes excipient compatibility studies, process feasibility studies, formulation optimization, process optimization and scale-up, and manufacturing process characterization.
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Global Pharmaceutical Drug Development Services Category - Procurement Market Intelligence Report:
The growth of the pharmaceutical drug development services market can be attributed to the rise in investments by pharmaceutical companies on developing treatments along with the stringency of the regulatory framework. There is a high demand for these services from the pharmaceutical and biotechnology companies, as they prefer to outsource drug development services to CROs. Outsourcing the services helps in reducing drug development costs amid increasing regulatory stringency and reimbursements.
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Pharmaceutical Drug Development Services – Procurement Challenges:
- The issues related to data integration and management.
- The difficulty in identifying the focus areas and take adequate measures.
To overcome the above-mentioned procurement challenges, the buyers in the pharmaceutical drug development services market should identify and engage with service providers that use the most widely adopted data storage systems and data formats. Moreover, they should collaborate with local CROs for small projects, as this will ensure buyers that the best resources of the local CROs are allocated for the project, which will, in turn, increase the probability of the project's success.
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To view our complete portfolio of pharma and healthcare procurement research reports, visit: https://www.spendedge.com/store/industries/pharma-healthcare
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