Can outsourcing companies gain market share through strategic brand management?
The importance ofa CRO/CMO’s brandin a highly competitive market
These are challenging times for contract research and manufacturing organizations (CRMOs) worldwide. As a whole, the industry gained from the recent global recession as more pharmaceutical companies started outsourcing their R&D projects to CRMOs. However, as Western CRMOs started losing out to lower-cost competition in China and India, the market became saturated with contract providers, resulting in numerous consolidations, mergers and acquisitions. Customer needs are changing again as pharmaceutical companies are increasingly choosing to work with quality-focused collaborators. For any CRMO, this is a complicated and bewildering landscape in which to compete. Here, we review the critical role of a CRMO’s brand in maintaining and growing market share, and discuss key aspects of successful brand management in order to achieve successful positioning in this highly competitive market.
Most suppliers to the pharmaceuticals industry have experienced significant business fluctuation over the past twenty years. Contract research, development and manufacturing organizations (CRMOs) in particular have been affected by changes in the global pharmaceuticals market that have included dramatic economic shifts, increasing regulatory pre