The average size of the global annual procurement budgets of
pharmaceutical industry buyer respondents is projected at US$127 million
for 2012, a considerable increase from US$110 million in 2011. ICD
Research survey reveals that overall buyer respondents’ budgets are
expected to increase over the next 12 months by an average of 4.8%,
compared to 6.3% in the 2011 survey, with the average increase in
budgets expected at US$6.1million.Additionally, as per responses of
industry buyers, ‘active pharmaceutical ingredients and intermediates’,
‘clinical trials and development services’ and ‘contract manufacturing’
are anticipated to increase in demand over the next 12 months.
Furthermore, respondents from global CROs and CMOs expect ‘clinical
trials and development services’ and ‘imaging and analysis’ to attract
the highest investment in 2012.
‘Quality’, ‘supplier’s record for reliability’, ‘price’ and ‘level of service’ are considered the most important factors for supplier selection in the global pharmaceutical industry. Interestingly, the same factors were considered important in the 2011 ICD Research survey. ‘Price’, ‘financial strength and stability of supplier’ and ‘supplier's CSR reputation’ are underestimated by supplier respondents, while in contrast, ‘supplier’s knowledge of the buyer’s market’, ‘supplier’s brand reputation’, and ‘innovation’ are overestimated.
Survey results reveal that the implementation of e-procurement is a priority for 20% of respondents, while 11% confirm that they are in the process of implementing e-procurement in their companies. In total, 52% of respondents identify an acceptance of e-procurement in their organizations; this is evidence of the potential for IT services in pharmaceutical procurement.
Furthermore, of all buyer respondents, 48% project an increase in supplier prices, while 22% expect a decrease and 22% anticipate no change. Rising demand, inflation, increasing raw material prices and energy costs, and environmental guidelines are considered the major reasons for increase in supplier prices.
Buyer Spend Activity and Procurement Behaviors and Strategies in the Pharmaceutical Industry
Published: June 2012 No. of Pages: 73
Price: Single User: US $ 1250 Corporate User: US $ 3750
About ICD Research
ICD Research is a full-service global market research agency and premium business information brand specializing in industry analysis in a wide set of B2B and B2C markets. ICD Research has access to over 400 in-house analysts and journalists and a global media presence in over 30 professional markets enabling us to conduct unique and insightful research via our trusted business communities. Through its unique B2B and B2C research panels and access to key industry bodies, ICD Research delivers insightful and actionable analysis. The ICD Research survey capabilities grant readers access to the opinions and strategies of key business decision makers, industry experts and competitors as well as examining their actions surrounding business priorities.
About Strategic Defence Intelligence
Strategic Defence Intelligence's unique monitoring platform tracks global defence activity for over 2,500 companies and 65 product categories in real time and in a highly structured manner, giving a comprehensive and easily-searchable picture of all defence industry activity. The site features: daily updated analysis, comment and news, company and customer profiles, defence spending, tenders and contracts, product and technology intelligence, a research and analysis database providing access to industry and competitor reports to enable business and market planning, and fully customizable tools, including instant personalized report generation and custom alerts.
‘Quality’, ‘supplier’s record for reliability’, ‘price’ and ‘level of service’ are considered the most important factors for supplier selection in the global pharmaceutical industry. Interestingly, the same factors were considered important in the 2011 ICD Research survey. ‘Price’, ‘financial strength and stability of supplier’ and ‘supplier's CSR reputation’ are underestimated by supplier respondents, while in contrast, ‘supplier’s knowledge of the buyer’s market’, ‘supplier’s brand reputation’, and ‘innovation’ are overestimated.
Survey results reveal that the implementation of e-procurement is a priority for 20% of respondents, while 11% confirm that they are in the process of implementing e-procurement in their companies. In total, 52% of respondents identify an acceptance of e-procurement in their organizations; this is evidence of the potential for IT services in pharmaceutical procurement.
Furthermore, of all buyer respondents, 48% project an increase in supplier prices, while 22% expect a decrease and 22% anticipate no change. Rising demand, inflation, increasing raw material prices and energy costs, and environmental guidelines are considered the major reasons for increase in supplier prices.
Buyer Spend Activity and Procurement Behaviors and Strategies in the Pharmaceutical Industry
Published: June 2012 No. of Pages: 73
Price: Single User: US $ 1250 Corporate User: US $ 3750
About ICD Research
ICD Research is a full-service global market research agency and premium business information brand specializing in industry analysis in a wide set of B2B and B2C markets. ICD Research has access to over 400 in-house analysts and journalists and a global media presence in over 30 professional markets enabling us to conduct unique and insightful research via our trusted business communities. Through its unique B2B and B2C research panels and access to key industry bodies, ICD Research delivers insightful and actionable analysis. The ICD Research survey capabilities grant readers access to the opinions and strategies of key business decision makers, industry experts and competitors as well as examining their actions surrounding business priorities.
About Strategic Defence Intelligence
Strategic Defence Intelligence's unique monitoring platform tracks global defence activity for over 2,500 companies and 65 product categories in real time and in a highly structured manner, giving a comprehensive and easily-searchable picture of all defence industry activity. The site features: daily updated analysis, comment and news, company and customer profiles, defence spending, tenders and contracts, product and technology intelligence, a research and analysis database providing access to industry and competitor reports to enable business and market planning, and fully customizable tools, including instant personalized report generation and custom alerts.
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