In some senses, conducting market research in the CRO industry is no different than research in any other industry. We use most of the same methodologies, including surveys, focus groups, interviews, etc. Many of the analytical approaches apply across industries as well. We run conjoint analyses, MaxDiff, standard descriptive stats, and more.
What is different about CRO market research is domain knowledge. Content and domain expertise are critical for the planning and execution of quality market research in the CRO industry. That isn’t unique to the CRO industry. If we specialized in utilities, we would certainly argue the same position.
You almost certainly don’t need to look to your research supplier to help you understand data management, biostatistics, clinical monitoring, patient recruitment or other clinical research functions. But when it comes time to write a questionnaire, interview guide, or focus group guide – and when it comes time to put the data to use in strategy and practice – this knowledge matters a great deal. The value delivered by generalist research suppliers operating in the CRO market research field will invariably start and end with macro industry trends and dynamics. Where generalists can assess R&D spend, ISR can address investigator fees and differentiate between labs spending and logistics spending. Where generalists can estimate drug development outsourcing, ISR can fluently discuss the penetration of outsourcing into specific activities such as risk-based monitoring or orphan drug trials.
Industry Standard Research produces CRO market research in two forms: custom and syndicated. If you want to talk about our custom research capabilities and how we can help, just ask. We are always happy to receive calls and emails where people just want to explore some ideas and see what might be possible.
If you’re interested in our syndicated reports on topics such as CRO delivery quality, clinical technologies, or patient recruitment, please take a look. Otherwise, feel free to explore our entire library of CRO market research reports.