ENABLING SMART PROCUREMENT

Global Pharmaceutical Formulations Category - Procurement Market Intelligence Report

This procurement report offers key insights on the best practices for supplier selection and the strategies for category management.

  • Published: Nov 2017
  • Pages: 88
  • SKU: IRCMSTR14646
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Key Features of Report

 

Supply Market Insights
Procurement Best Practices
Cost Saving Opportunities
Pricing Models
Negotiation Strategies
Category Risk Analysis
Key Supplier Analysis
Supplier Capability Matrix

 

Pharmaceutical Formulations - Category Spend Analysis

 

According to procurement analysts at SpendEdge, pharmaceutical companies are increasingly looking forward to accelerating product development and refrain from adding any specialized group that might be difficult to build. Buyers minimize their risk of product failures and faster approvals by engaging with specialized suppliers. The patent cliff and growing demand for drugs have resulted in the need for the shortest TATs to develop a dosage form with suitable bioavailability. Companies are increasingly looking for patent opportunities, and they can streamline and quicken their formulation development strategies by outsourcing. CDMOs are equipped with the latest technology innovations, can offer novel formulation techniques, and possess specialized staff that can reduce timelines significantly, accelerating the formulation development process.

The pharmaceutical industry has been demonstrating excellence in new product development such as reformulations of existing drugs for better customer acceptance or novel formulation approaches to enhance bioavailability and reduce time to market. Formulation enhancements can help in reducing the frequency of administration. The use of new delivery technologies can significantly improve patient experience, reduce the volume required for each dosage, and minimize the side-effects associated with the formulation. Service providers are increasingly offering tools and platforms to enhance the formulation development cycle. For instance, Hovione's particle design technology platform offers real-time solutions for enhancing drug delivery and bioavailability challenges through a variety of approaches such as spray drying and congealing, hot melt extrusion, and emulsification among others.

Pharmaceutical Formulations - Procurement Best Practices

 

Buyers should adopt systematic procurement practices that will allow them to exert better control over suppliers, irrespective of the prevailing market conditions, as this will help them manage expenses and the quality of service in a better way.

One of the procurement best practices for buyers is to use DOE for formulation development. Post defining TPP, several studies need to be conducted for developing a formulation. Buyers should engage with suppliers that use DOE, which is an effective tool and can be useful in the entire formulation process such as excipient compatibility studies, process feasibility studies, formulation optimization, process optimization and scale-up, and manufacturing process characterization. By using the DOE approach, the scale-up and process validation become highly efficient.

Pharmaceutical Formulations - Procurement Challenges

 

According to this procurement research, one of the crucial procurement challenges faced by buyers is problems of non-compliance by suppliers. Pharmaceutical companies are required to follow a host of regulations in the region of operation as well as are subject to scrutiny by global regulatory agencies. As the industry is heavily regulated and characterized by imports-exports, agencies such as US FDA intervene and conduct site inspections to ensure all quality and safety standards are followed. However, in countries such as India, there has been an increase in regulatory scrutiny due to the following reasons:

  • Lack of data integrity and falsification (in certain cases)
  • Low adherence to SOPs
  • Lack of data traceability
  • Poor validation of equipment and instruments

Such issues can result in plant shutdowns and import bans on specific products, affecting buyer's operations and profitability.

 

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Pharmaceutical formulations can be defined as the process in which several active chemical substances are combined to produce a medical drug by using appropriate excipients and technological procedures. It is an intrinsic part of the drug development process. This upcoming procurement research, which is part of SpendEdge’s pharma and healthcare category, would provide actionable insights on the pricing strategies, market drivers, procurement best practices, and the supply landscape for the global pharmaceutical formulations market.

Category overview of the global pharmaceutical formulations market

Based on the drug dosage pharmaceutical formulations can be categorized into:

  • Solid
  • Liquid
  • Tropical

Furthermore, this report also considers segmentation of the market based on release including immediate release, moderate release, and slow release.

This upcoming procurement research on pharmaceutical formulations would provide detailed insights into the continuously evolving supplier landscape to help improve source-to-contract cycle performance. Moreover, it would help sourcing professionals develop enhanced category strategies, understand supplier and market challenges, boost savings, and implement sourcing best practices.

PART 1: CATEGORY AT A GLANCE

  • TAKEAWAY 01 | Market Overview
  • TAKEAWAY 02 | Demand and Supply Snapshot
  • TAKEAWAY 03 | Key Market Dynamics
  • TAKEAWAY 04 | Supply Market Highlights
  • TAKEAWAY 05 | Pricing Insights
  • TAKEAWAY 06 | Procurement Insights

PART 2:  SCOPE OF THE REPORT

  • Category Definition
  • Research Methodology

PART 3: MARKET INSIGHTS

  • Category Spend Analysis
  • Category Maturity by Regions
  • Demand-Supply Shifts
  • Regional Demand-Supply Snapshot
  • Market Developments
  • Regional Impact of Trends
  • Key Category Growth Drivers and Corresponding Regional Impacts
  • Major Category Growth Constraints and Corresponding Regional Impacts
  • Key Current Technological Innovations
  • Major Regulatory Frameworks
  • Strategic Sustainability Practices
  • Porter’s Five Forces
  • PESTLE Analysis

PART 4: SUPPLY MARKET INSIGHTS

  • Supplier Operational Capability Matrix
  • Other Prominent Suppliers by Region: Operational Capability Matrix
  • Supplier Functional Capability Matrix
  • Other Prominent Suppliers by Region: Functional Capability Matrix
  • Key Clients/Partners
  • Supplier Cost Breakup
  • Supplier Positioning Matrix

PART 5: PRICING INSIGHTS

  • Pricing Models Snapshot
  • Pricing Models – Pros and Cons
  • Indicative Pricing

PART 6: PROCUREMENT INSIGHTS

  • Major Category Requirements
  • Major Procurement Pain Points
  • Category Sourcing Evolution Matrix
  • Procurement Best Practices
  • Cost-saving Opportunities
  • Supplier Selection Criteria
  • Category Negotiation Strategies
  • SLA Terms
  • Supplier Evaluation Criteria
  • Category Risk Analysis

PART 7: TOP FIVE SUPPLIERS

  • Pfizer CentreOne
  • Mylan
  • Boehringer Ingelheim
  • Lonza
  • Baxter

PART 8: APPENDIX

  • Glossary
  • Key Notes
  • About Us

Research Framework

SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary research

  • Procurement heads
  • Category managers
  • Sourcing consortium professionals
  • Industry experts and thought leaders
  • Procurement managers
  • Category heads of suppliers
  • Client account heads/managers
  • Client and industry consultants

Secondary research

  • Industry journals and reports
  • Periodicals and new articles
  • Category webinars
  • Internal categiry playbooks
  • Industry and government websites on regulations and compliance
  • Internal databases
  • Industry blogs/thought leader briefings

DATA ANALYSIS

SpendEdge INSIGHTS

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