This IDC study provides an ongoing assessment of the growing trend supporting the outsourcing of life science drug safety services in the life sciences industry. This the second IDC MarketScape on the topic, and it 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. While the relative rating of vendors will likely be highly dependent on specific company needs, the document provides insights on the kinds of criteria that should be important to life science companies when considering the selection of a DS services partner.
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.
Alan Louie, research director of IDC Health Insights' Life Science R&D Strategy and Technology research, noted, "The drug safety services space within the life sciences industry has matured and is increasingly a mainstream contributor to helping to advance the industry forward. Unsustainable growth in DS BPO and evolving DS regulatory compliance requirements are forcing leading service providers in the space to continue to innovate, and IDC expects that leading service providers in the space will be those vendors that continue to seek better and more efficient ways to deliver DS services looking forward."
Navitas Life Sciences Limited, Tata Consultancy Services Limited, Cognizant Technology Solutions Corporation, PricewaterhouseCoopers LLP, Tech Mahindra Limited, Accenture plc, HighPoint Solutions, LLC, Foresight Group International AG