Life Sciences Consulting Services Market by Top Key Players Profiled: IQVIA, Parexel, Certara

BRUSSELS - Nov. 2, 2022 - PRLog -- The life science industry is quickly developing and is witnessing growing complexity, stringent regulations, the need for faster innovation, and the trend towards digitalization. This in turn drives the demand for pharma and biotech consulting services including drug development, regulatory affairs, scientific writing, economic affairs, quality assurance and compliance, real-world evidence (RWE), and pharmacovigilance (PV).

The global Life Sciences Consulting Services market is driven by increasing R&D in advanced therapies, stringent regulatory compliance, rising need for digitalization/technical expertise, and growing demand for RWE, PV, HEOR, market access services.

Surging Demand for Advanced Therapies Consulting
Advanced therapies, such as cell and gene therapies and personalized vaccines require specialized expertise throughout the development, manufacturing, and regulatory process. To effectively develop a product and obtain a centralized market authorization (MA) in Europe and/or a biologic license authorization (BLA) in the US, it is essential to have up-to-date knowledge and skills of the constantly evolving Advanced Therapy Medicinal Products (ATMP) landscape. With rapidly expanding research on cell and gene therapies, there is robust demand for ATMP consulting as it requires experts with specific experience in regulatory strategy, CMC, medical communications, and clinical development.

Product Commercialization/Market Access – Key Element for the Success of a New Drug
Previously, a drug's ability to enter the market was nearly entirely based on its efficacy and safety. However, pharmaceutical companies are now progressively required to demonstrate how a new drug improves patient outcomes, reduces the burden of the healthcare system as a whole, and is worth its price. To support these criteria, pharmaceutical companies are looking at a more holistic view of patient treatment, providing better RWE and therefore a stronger value proposition for decision-makers. Additionally, complex regulatory and reimbursement pathways, varied evidence requirements, and long procedural timelines pose risk to successful access and launch. All these features are boosting the demand for market access services including Health Economics and Outcomes Research (HEOR), PV, and RWE strategy and consulting across the globe.

Explore Premium Report on Life Sciences Consulting Services Market @ https://meditechinsights.com/life-sciences-consulting-services-market/

Demand for Technology/IT Consulting Services Picking Up Fast
Pharma and biotech industry is increasingly looking for technology/IT consulting services to digitize their operations, migrate to the cloud, make use of advanced technologies like AI/ML, and modernize existing IT infrastructures.