This IDC Health Insights report provides an assessment of the growing trend supporting the outsourcing of life science drug safety services, describes how the major vendors compare with each other, and identifies the key factors that are helping both industry leaders and major market players to succeed and grow.
In creating an IDC MarketScape based on diversity of service offerings, global industry coverage, commitment to growth, and flexibility in deployment, several services companies have risen to the top. These leading companies are diverse and achieved excellence in different ways. Concurrently, the breadth of vendors achieving Leader status as measured using the IDC MarketScape tool demonstrates clearly that there are multiple ways to succeed. Overall, it is apparent that the drug safety services vendor landscape is diverse, and multiple vendors are finding success, even within the same life science companies.
According to Alan S. Louie, research director, Clinical Development Strategy and Technology, IDC Health Insights, "As outsourcing of the life science industry grows, the vendor ecosystem is stepping up to deliver cost savings, agility, and operational excellence in areas once considered to be core to top companies. Demonstrated delivery experience, deep understanding of drug safety processes and platforms, and deep strategic drug safety expertise are all paths to vendor success, helping many life science services organizations to achieve sustainable growth that should continue for years to come."
HCL, Cognizant Technology Solutions Corporation, Syntel, Inc., Tata Group, TAKE Solutions Ltd., Accenture plc, Foresight Group International AG, Larsen & Toubro Limited, Mahindra Satyam, iGate Corporation