As 2013 rapidly comes to a close, we reflect back, analyze and establish forward 2014 goals for our organization. Reflecting back provides us with more awareness of trends affecting all of us in the life-sciences industry.
Consolidation and outsourcing have continued, as has increased awareness of risk and compliance requirements of increasingly complex clinical study execution.
Consolidation and outsourcing are driven by both economics and efficiencies. Business relationships are being driven by mergers and acquisitions, as well as newer types of alliances and collaborations. Clearly for our businesses, we see the scale tipping in favor of efficiencies.
In a recent presentation to the Society for Clinical Research Sites, Ken Getz, director of sponsored research programs at the Tufts Center for the Study of Drug Development, said the percentage of top 30 pharma companies participating in at least one functional service provider or integrated alliance has increased from 47% in 2004 to 87% in 2012. We see that growth trend continuing beyond the top 30, and we are positioning our firm to meet the demands.
Looking forward to next year, we see increased collaborations to achieve time and risk reductions in study execution and compliance. Site support and dynamic strategies to fulfill individual country requirements will continue to elevate in relevance within meaningful solutions. Social media and mobile technology are evolving rapidly and incorporation in appropriate aspects of recruitment and retention will be key to subject, and potential subject, interaction.
From all of us at Imperial, we wish you a successful 2014.