||2012-2013 Buyer Spend Activity and Procurement Behaviors in the Pharmaceutical Indus

Sept. 21, 2012 - PRLog -- Buyer Spend Activity and Procurement Behaviors and Strategies in the Pharmaceutical Industry - 2012-2013 : Survey Intelligence

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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’ budgets are expected to increase over the next 12 months by an average of 4.8%, compared to 6.3% in the 2011 survey, with the average increase in budgets expected at US$6.1million.Additionally, as per responses of industry buyers, ‘active pharmaceutical ingredients and intermediates’, ‘clinical trials and development services’ and ‘contract manufacturing’ are anticipated to increase in demand over the next 12 months. Furthermore, respondents from global CROs and CMOs expect ‘clinical trials and development services’ and ‘imaging and analysis’ to attract the highest investment in 2012.

‘Quality’, ‘supplier’s record for reliability’, ‘price’ and ‘level of service’ are considered the most important factors for supplier selection in the global pharmaceutical industry. Interestingly, the same factors were considered important in the 2011 ICD Research survey. ‘Price’, ‘financial strength and stability of supplier’ and ‘supplier's CSR reputation’ are underestimated by supplier respondents, while in contrast, ‘supplier’s knowledge of the buyer’s market’, ‘supplier’s brand reputation’, and ‘innovation’ are overestimated.

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; this is evidence of the potential for IT services in pharmaceutical procurement.

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.

About ICD Research

ICD Research is a full-service global market research agency and premium business information brand specializing in industry analysis in a wide set of B2B and B2C markets.  ICD Research has access to over 400 in-house analysts and journalists and a global media presence in over 30 professional markets enabling us to conduct unique and insightful research via our trusted business communities.  Through its unique B2B and B2C research panels and access to key industry bodies, ICD Research delivers insightful and actionable analysis.  The ICD Research survey capabilities grant readers access to the opinions and strategies of key business decision makers, industry experts and competitors as well as examining their actions surrounding business priorities.

About Strategic Defence Intelligence

Strategic Defence Intelligence's unique monitoring platform tracks global defence activity for over 2,500 companies and 65 product categories in real time and in a highly structured manner, giving a comprehensive and easily-searchable picture of all defence industry activity. The site features: daily updated analysis, comment and news, company and customer profiles, defence spending, tenders and contracts, product and technology intelligence, a research and analysis database providing access to industry and competitor reports to enable business and market planning, and fully customizable tools, including instant personalized report generation and custom alerts.


Synopsis

• 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.

Summary
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.

Scope
• 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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Pharmaceutical Industry , Survey Brief ,Buyer Spend Activity and Procurement Behaviors

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