Global pharmaceutical industry buyer respondents expect an increase of 4.8% in their procurement budgets
London, September 12th, 2012 – 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’
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;
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.
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• Analysis of opinions drawn from leading pharmaceutical industry executives.
• Analysis on how procurement expenditure, business strategies and practices in the pharmaceutical industry are set to change in 2011-2012.
• Analysis on spending plans, budget allocations, challenges and investment opportunities of purchase decision makers.
This report is the result of an extensive survey drawn from ICD Research’s exclusive panel of leading pharmaceutical industry executives. It analyzes how procurement expenditure, business strategies and practices are set to change in the pharmaceutical industry in 2012-13. This report gives you access to the category-level spending outlooks, budgets, supplier selection criteria, business challenges and investment opportunities for leading purchase decision makers. The report also identifies future growth of buyers and suppliers and e-procurement. This report not only grants access to the opinions and strategies of business decision makers and competitors, but also examines their actions surrounding business priorities. The report also provides access to information categorized by region, company type and size.
• The opinions and forward looking statements of 247 industry executives have been captured in our in-depth survey, of which 51% represent Director and C-level respondents.
• The research is based on primary survey research conducted by ICD Research accessing its B2B panels comprised of senior purchase decision makers and leading supplier organizations.
• The geographical scope of the research is global - drawing on the activity and expectations of leading industry players across the Americas, Europe, Asia-Pacific, Africa and Middle East.
• Key topics covered include buyer expenditure activity, procurement behaviors and strategies, threats and opportunities, economic outlook and business confidence.
• In the report, buyers identify what suppliers need to do to maintain their business and the key actions being taken by industry players to overcome the leading business threats.
• The report examines current practices and provides future expectations for the industry over the next 12-24 months.
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