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In partnership with Forrester Research, Cipher conducted a study in March 2021 exploring how life science companies and third-party market and competitive intelligence (M/CI) vendors can best work together.

The research was conducted with over 200 M/CI decision-makers working at global life science organizations across North America and Europe. Participants came from all areas of the life sciences industry, including the pharmaceutical, biotechnology, and medical device spaces, in addition to contract research organizations.

In the infographic below, we’ll explore how life science companies outsource their market and competitive intelligence research, along with the challenges these professionals face when managing 3rd party vendors. 

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How are firms outsourcing most of their M&CI research and data collection?

According to our study, here is a breakdown of how these firms use 3rd party M/CI vendors:

  • 79% Use them for primary research and intelligence collection
  • 73% Use vendors for collection and analysis of real-world evidence
  • 67% Use 3rd party vendors for data aggregation and resellers
  • 58% Outsource their independent assets reviews

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What are some challenges life science firms face when managing 3rd party partners?

Our study showed the following breakdown when asked about the challenges these professionals face when managing 3rd party vendors:

  • 72% Face issues when dealing with managing their vendor's progress
  • 66% Have a hard time reviewing vendor's deliverables
  • 64% Say their biggest issue is centralizing their resources and sharing knowledge with the 3rd party vendor
  • 66% Of professionals surveyed admitted that key 3rd party CI projects are delayed by internal approvals 

Dive deeper into the data

Want to learn more about managing 3rd party M/CI vendors, or some of the other trends and disruptions we uncovered from our study? You can now download the full report to get all the details!

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