Non-CRO Medical Writing Market Procurement Intelligence Report

Clinical and Medical Support Services market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Non-CRO Medical Writing procurement and the cost they have to incur. Rapid growth in the biosimilar and biologics market and global focus on gene therapy studies for rare diseases have resulted in an increased spend within the broader industry.

Buyers that have multiple locations under management are increasingly opting for a single supplier who can deliver the preferred solutions in a consistent manner across locations. Often suppliers with a physical presence across key geographies are preferred in such cases.

Despite increasing costs on almost all fronts, suppliers are resisting a drastic price increase due to intense competition where market players are willing to increase their market share at the cost of profitability. Therefore, buyers can expect pricing status quo in most cases, or only negligible to marginal price increases in some cases.

Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Non-CRO Medical Writing procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Investing in benchmarking studies help category managers enhance their knowledge about market pricing or billing rates based on job roles and functions. This allows them to not only save costs but also negotiate with suppliers. For example, while negotiating on rates of bundled services, buyers can save significantly on a single service by cross verifying the rates quoted by suppliers against industry benchmarks.

Buyers should look to minimize the contract-related risks where unfavorable credit terms may severly penalize buyers for delayed payments or entitle the supplier to demand pre-payments or shorten the payment terms. Although these clauses are not very common in the category, suppliers may still insist on them, especially in situations where buyers' liquidity or financial health is in question.

Before engaging in a contractual agreement with suppliers, buyers should focus on identifying and understanding various critical parameters along with their impacts on different procurement models.

Non-CRO Medical Writing procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Non-CRO Medical Writing procurement. Some examples include: