Data has become the new currency of this digital era. One of the earliest industries to have understood this trend was the pharmaceutical realm. The sector, being a highly research-oriented and data-driven industry, constantly leverages analysis of empirical data to trigger innovations. However, the volume of data has increased dramatically over the years, thanks to the cutting-edge technologies, and has brought with it many challenges and advantages. Today, outsourcing analytical services have become the preferred option for the pharmaceutical companies as it helps them to focus on their core competencies and allows them to send out intricate tasks, which would require precision analytical technologies and expertise.
Increasing pipelines for biological candidates and soaring demand for additional analytical drug details are the major factors that are triggering the outsourcing of analytical services. Today, an optimum analytics service would provide real-time product quality control, monitoring and optimization of processes, characterization of biosimilars and biologics, and enhanced productivity. The increasing development of biologics, which has been at the front and center of the discovery and development of drugs for the past few decades, has been another major triggering factor here. Besides, the patent cliff is putting drug innovators under constant pressure to bring new products through the pipeline at a faster rate. To assess and monitor the quality attributes of these products, a broader set of equipment and expertise would be required, which makes outsourcing a better prospect.
Further, with the increasing pressure from the pharmaceutical industry, analytical services today use cutting-edge equipment and processes to reduce the testing time. For instance, many analytical service companies are equipped today with advanced high-resolution accurate mass spectrometry (HRAM) instruments, which eliminates the need to perform multiple trials and increases the reliability of operations. The sector is also witnessing an increased adoption of solutions with artificial intelligence (AI) and machine learning (ML) based platforms.
At this juncture, there are a variety of analytical services companies available in the market that caters to different needs of the pharmaceutical companies. To help them choose the solution that best fits their requirement, Pharma Tech Outlook has compiled the list of the top 10 analytical services companies. The enlisted companies are the frontrunners in the market that provide a wide span of features. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for the aspiring CIOs.
We present to you Pharma Tech Outlook’s, “Top 10 Analytical Services Companies – 2020.”