The Top 10 Contract Research Organizations: Positioning, performance and SWOT analyses

The Top 10 Contract Research Organizations: Positioning, performance and SWOT analyses

Healthcare

The Top 10 Contract Research Organizations: Positioning, performance and SWOT analyses

Cost containment and regulatory pressures within the pharma industry are driving R&D outsourcing across the globe. Clinical obstacles to approval have become more significant due to the growing availability of existing generic treatments, and the trend to adopt Health Economics Outcomes Research (HEOR) assessments is increasing the complexity of clinical research. As a result, the scope of the CRO industry is expanding, and the global market is predicted to value $35bn by 2013.

'The Top 10 Contract Research Organizations' is a report published by Business Insights that examines the competitive landscape of the global CRO industry. The latest key issues and evolving business models in the CRO market are identified and the leading companies in this sector are profiled in detail. For each of the top 10 CRO companies, this report provides a detailed examination of financial performance by business segment and growth strategies in the form of key acquisitions and divestments. The opportunities and threats facing each of these leading players are also assessed. This report also examines the size and growth of the global CRO industry, with analysis of major market drivers and trends in CRO destinations.

Key Findings

The global CRO industry valued $18bn in 2008, an increase of 14% over 2007. The CRO market will grow at an annual rate of 14% over the 2009-13 period.

Quintiles leads the global CRO market having accrued a market share of 16.9% in 2007, equivalent to sales of $2.7bn. There are over 1,100 players in the industry, and the top 10 players only accounted for 56.1% of the global market in 2007.

The fragmented structure of the CRO industry has led to an increase in strategic alliances, acquisitions, joint-ventures and other partnership deals as companies attempt to expand their service offerings and geographical presence.

Covance is the second largest global CRO, having registered revenues of $1.5bn 2007, representing a market share of 9.7%. Covance is building global capabilities, with many clinical trials now being conducted in emerging markets.

Biomarkers have the potential to become an integral part of clinical research, after the FDA recommended their usage throughout clinical trials to demonstrate desired clinical activity and safety.

Use this report to...

• Compare the performances of the top 10 CRO companies across key business segments with this report's analysis of Quintiles, Covance, Pharmal Product

Development, Charles River Labs, ICON, Parexel, MDS, Kendle, PharmaNet

Development and PRA International

• Identify the market dynamics of the global CRO industry over the 2007-08 period, discover which emerging markets are becoming the CRO destinations of the future and understand the latest industrial trends across the UK, Japan, France, Germany,

Italy, Spain and the US.

• Assess the future prospects of the top 10 CRO companies with this report's analysis of each firm's strengths, weaknesses, opportunities and threats, in addition to an examination of growth strategies via acquisitions and divestments.
• Measure the progress of other leading CRO companies by evaluating the financial performances of Aptuit, Life Sciences Research, Omnicare, SGS, CMIC, WuXi

Pharmatech, Galapagos (Biofocus), LAB Research, United BioSource and Bio-Imaging.

Explore issues including...

Industrial consolidation. Globalization and the need to provide a wider breadth of services to meet customer needs across the drug development process is driving consolidation.

Budget pressures for biopharma. The economic slowdown has limited the availability of funds for 'risky' businesses such as biotechnology. This has led to many projects being suspended.

Consolidation in client industry. Consolidation in the pharma industry has led

to the creation of larger entities with better bargaining power. This is beginning to impact upon contract payment terms.

Demand for CRO services. Regulatory pressures are creating a need for larger trials

and increasing development timelines. Regulatory delays and phase IV monitoring requirements are also fuelling demand for CRO services.

Influx of private equity players. A number of factors are driving the participation of private equity players, including the nature of the service-based business model and recent shifts in the CRO industry led by globalization and the demand for full-service offerings.

Discover...

• Which countries are attracting offshore investment?
• What are the trends in the global CRO industry?
• Who are the top 20 players in the industry?
• What is the market share of each of the global leaders by company?
• What are the drivers and resistors of growth in the CRO industry ?
• How is consolidation expected to change the dynamics of the industry?
• What are the key strategies of the leading CRO companies?
• What are the strengths and weaknesses of the industry's top players?
• Which phases of clinical research are driving the industry?

Contents

• The Top 10 Contract Research Organizations
• Executive summary
• Industry overview
• Quintiles
• Covance
• Pharmaceutical Product Development (PPD)
• Charles River Laboratories (CRL)
• ICON Clinical (ICON)
• Parexel
• MDS
• Kendle
• PharmaNet Development (PharmaNet)
• PRA International
• Chapter 1 Introduction
  • What is this report about?
  • Methodology
• Chapter 2 Industry overview
  • Summary
  • Introduction
  • Market overview
  • Global CRO market: size and growth
  • Global positioning of the top 10 CROs
  • Key market drivers
  • Key market resistors
  • Business models
  • Full-services CROs
  • Niche CROs
  • Trends in the global CRO industry
  • Consolidation in the CRO industry
  • Evolution of software as a service (SaaS) based electronic data capture (EDC)
  • Implementation of biomarkers in clinical trials
  • Participation of private equity players
  • New CRO destinations
  • Asia-Pacific
  • India
  • China
  • Latin America
  • Eastern Europe
  • Africa
• Chapter 3 Quintiles
  • Summary
  • Company overview
  • Recent financial performance
  • Growth strategies
  • Investing in infrastructure
  • Expansion of consulting business
  • Acquisitions and divestments
  • SWOT analysis
  • Strengths
  • Depth in service offerings
  • Strong presence in emerging economies
  • Weaknesses
  • Exposure in limited therapeutic areas
  • Opportunities
  • Launch of interactive data analysis tool
  • New facility in India
  • Expansion in Japan
  • Threats
  • Stringent regulations
  • Increasing competition
• Chapter 4 Covance
  • Summary
  • Company overview
  • Recent financial performance
  • Performance by business segment
  • Growth strategies
  • Attaining operational efficiency through six sigma implementation
  • Develop capabilities in emerging markets
  • Acquisitions and divestments
  • SWOT analysis
  • Strengths
  • Global capabilities
  • Stronger therapeutic base
  • Strong liquidity position
  • Weaknesses
  • Declining performance in late-stage segment
  • Opportunities
  • Expanding facilities in mature pharmaceutical markets
  • R&D collaboration with Eli Lilly
  • Threats
  • Weakening early-stage development segment
  • Regulatory compliance
• Chapter 5 Pharmaceutical Product Development
  • Summary
  • Company overview
  • Recent financial performance
  • Performance by business segment
  • Growth strategies
  • Collaboration for development of innovative compounds
  • Expansion in central laboratory services
  • Acquisitions and divestments
  • SWOT analysis
  • Strengths
  • Depth in phase IIIV service offering
  • Strong financial performance
  • Weaknesses
  • Declining revenue contribution from PPD's discovery segment
  • Opportunities
  • Investment in technologies
  • Geographical expansion
  • Outsourcing deal with Merck
  • Threats
  • Dependence on a small number of industries and clients
• Chapter 6 Charles River Laboratories
  • Summary
  • Company overview
  • Recent financial performance
  • Performance by business segment
  • Growth strategies
  • Building capabilities for clients
  • Acquisitions and divestments
  • SWOT analysis
  • Strengths
  • Strong technology platforms for pre-clinical testing
  • Weaknesses
  • Higher debt burden
  • Opportunities
  • Expansion in China
  • Threats
  • Cost cutting in biopharmaceutical industry
• Chapter 7 ICON
  • Summary
  • Company overview
  • Recent financial performance
  • Performance by business segments
  • Growth strategies
  • Developing global capabilities and reach
  • Acquisitions and divestments
  • SWOT analysis
  • Strengths
  • Strong presence in oncology solutions
  • Technically enhanced service offerings
  • Unconventional service model
  • Weaknesses
  • Rising debt load
  • Opportunities
  • Expansion in India
  • Agreement with Phase Forward
  • Threats
  • Government regulations
  • Softness in non-Critical Path studies
• Chapter 8 Parexel
  • Summary
  • Company overview
  • Recent financial performance
  • Performance by business segments
  • Growth strategies
  • Expansion in emerging markets
  • Acquisitions and divestments
  • SWOT analysis
  • Strengths
  • Strong global presence
  • Stronger therapeutic presence
  • Weaknesses
  • Increased receivable turnover period
  • Opportunities
  • Expansion in early-phase service offerings
  • Threats
  • Consolidation in the industry
  • Declining R&D spending growth
• Chapter 9 MDS
  • Summary
  • Company overview
  • Recent financial performance
  • Performance by business segment
  • Growth strategies
  • Internal restructuring
  • Investment in infrastructure across geographies
  • Acquisitions and divestments
  • SWOT analysis
  • Strengths
  • Robust performance of late-stage contract research services
  • Weaknesses
  • Limited therapeutic focus
  • Opportunities
  • Investment in technology
  • Expansion in Asian markets
  • Threats
  • Regulatory review
• Chapter 10 Kendle
  • Summary
  • Company overview
  • Recent financial performance
  • Performance by business segment
  • Growth strategies
  • Participation in mega-trials
  • Acquisitions and divestments
  • SWOT analysis
  • Strengths
  • Strong presence in phase IIV clinical services
  • Growth in operating profit
  • Broader therapeutic exposure
  • Weaknesses
  • Rising debt burden
  • Opportunities
  • Growth in the early-stage research segment
  • Expansion in Asia-Pacific
  • Threats
  • Highly competitive environment
• Chapter 11 PharmaNet
  • Summary
  • Company overview
  • Recent financial performance
  • Performance by business segments
  • Growth strategies
  • Global expansion of capacity
  • Early-stage expansion
  • Late-stage expansion
  • Investment in technology
  • Acquisitions and divestments
  • SWOT analysis
  • Strengths
  • Extensive services spectrum
  • Diverse client base across geographies
  • Weaknesses
  • Late-stage project cancellations
  • Opportunities
  • Investing in laboratory capabilities to analyze complex molecules
  • Threats
  • Legal proceedings
  • Refinancing convertible debt
  • Government regulations
• Chapter 12 PRA International
  • Summary
  • Company overview
  • Recent financial performance
  • Growth strategies
  • Capacity expansion across geographies
  • Increased prominence in oncology
  • Acquisitions and divestments
  • SWOT analysis
  • Strengths
  • Services portfolio
  • Weaknesses
  • Limited therapeutic expertise
  • Lower sales growth during 200407
  • Opportunities
  • Collaboration with Frontage Laboratories
  • Growing opportunities in India
  • Threats
  • Intense competition
  • Regulatory compliance
• Chapter 13 Other key players
  • Aptuit
  • Company overview
  • Recent financial performance
  • Life Sciences Research
  • Company overview
  • Recent financial performance
  • Omnicare
  • Company overview
  • Recent financial performance
  • SGS
  • Company overview
  • Recent financial performance
  • CMIC
  • Company overview
  • Recent financial performance
  • WuXi Pharmatech
  • Company overview
  • Recent financial performance
  • Galapagos (BioFocus)
  • Company overview
  • Recent financial performance
  • LAB Research
  • Company overview
  • Recent financial performance
  • United BioSource
  • Company overview
  • Recent financial performance
  • Bio-Imaging
  • Company overview
  • Recent financial performance
• Chapter 14 Appendix
  • Glossary
  • Index
• List of Figures
  • Figure 2.1: Global CRO market size ($bn), 200813
  • Figure 2.2: Top 10 CRO companies market share (%), 2007
  • Figure 2.3: Market position of the global top 10 CROs, 2007
  • Figure 2.4: Comparative analysis of leading CRO companies
  • Figure 2.5: Comparison between India and China CROs
  • Figure 3.6: Quintiles SWOT analysis
  • Figure 4.7: Covance financial performance ($m), 200307
  • Figure 4.8: Covance SWOT analysis
  • Figure 5.9: PPD financial performance ($m), 200307
  • Figure 5.10: PPD SWOT analysis
  • Figure 6.11: CRL financial performance ($m), 200407
  • Figure 6.12: CRL SWOT analysis
  • Figure 7.13: ICON SWOT analysis
  • Figure 8.14: Parexel financial performance ($m), 200408
  • Figure 8.15: Parexel SWOT analysis
  • Figure 9.16: MDS financial performance ($m), 200507
  • Figure 9.17: MDS SWOT analysis
  • Figure 10.18: Kendle financial performance ($m), 200307
  • Figure 10.19: Kendle SWOT analysis
  • Figure 11.20: PharmaNet financial performance ($m), 200407
  • Figure 11.21: PharmaNet SWOT analysis
  • Figure 12.22: PRA International financial performance ($m), 200307
  • Figure 12.23: PRA International SWOT analysis
  • Figure 13.24: LSR financial performance ($m), 200307
  • Figure 13.25: Omnicare financial performance ($m), 200307
  • Figure 13.26: SGS financial performance ($m), 200307
  • Figure 13.27: CMIC financial performance ($m), 200508
  • Figure 13.28: WuXi Pharmatech financial performance ($m), 200307
  • Figure 13.29: BioFocus financial performance ($m), 200507
  • Figure 13.30: Lab Research financial performance ($m), 200507
  • Figure 13.31: Bio-Imaging financial performance ($m), 200307
  • Table 2.1: Global CRO market size ($bn), 200813
  • Table 2.2: Select M&A deals in CRO industry 200708
  • Table 2.3: Select private equity deals in CRO industry ($m), 200708
  • Table 3.4: Quintiles snapshot
  • Table 3.5: Quintiles financial performance ($m), 200307
  • Table 4.6: Covance snapshot
  • Table 4.7: Covance financial performance ($m), 200307
  • Table 4.8: Covance business segment performance, 2007
  • Table 5.9: PPD snapshot
  • Table 5.10: PPD financial performance ($m), 200307
  • Table 5.11: PPD business segment performance, 2007
  • Table 6.12: CRL snapshot
  • Table 6.13: CRL financial performance ($m), 200407
  • Table 6.14: CRL business segment performance, 2007
  • Table 7.15: ICON snapshot
  • Table 7.16: ICON financial performance ($m), 200307
  • Table 7.17: ICON business segment performance, 2007
  • Table 8.18: Parexel snapshot
  • Table 8.19: Parexel financial performance ($m), 200408
  • Table 8.20: Parexel business segment performance, 2008
  • Table 9.21: MDS snapshot
  • Table 9.22: MDS financial performance ($m), 200507
  • Table 9.23: MDS business segment performance, 2007
  • Table 10.24: Kendle snapshot
  • Table 10.25: Kendle financial performance ($m), 200307
  • Table 10.26: Kendle business segment performance, 2007
  • Table 11.27: PharmaNet snapshot
  • Table 11.28: PharmaNet financial performance ($m), 200407
  • Table 11.29: PharmaNet business segment performance, 2007
  • Table 12.30: PRA International snapshot
  • Table 12.31: PRA International financial performance ($m), 200307
  • Table 13.32: Aptuit Snapshot
  • Table 13.33: LSR Snapshot
  • Table 13.34: LSR financial performance ($m), 200307
  • Table 13.35: Omnicare Snapshot
  • Table 13.36: Omnicare financial performance ($m), 200307
  • Table 13.37: SGS Snapshot
  • Table 13.38: SGS financial performance ($m), 200307
  • Table 13.39: CMIC Snapshot
  • Table 13.40: CMIC financial performance ($m), 200508
  • Table 13.41: WuXi Pharmatech Snapshot
  • Table 13.42: WuXi Pharmatech financial performance ($m), 200307
  • Table 13.43: BioFocus Snapshot
  • Table 13.44: BioFocus financial performance ($m), 200507
  • Table 13.45: LAB Research Snapshot
  • Table 13.46: LAB Research financial performance ($m), 200507
  • Table 13.47: UBC Snapshot
  • Table 13.48: Bio-Imaging Snapshot
  • Table 13.49: Bio-Imaging financial performance ($m), 200307

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