Overcoming Validation Challenges for SMBs
We surveyed medium sized life sciences companies in the United States and Europe to uncover their top ten validation challenges, here’s what we found.
Contrary to its ‘big-pharma’ reputation, the life sciences industry is comprised mostly of smaller companies, with more than 90% of the industry constituted by small to medium size businesses (SMBs) generating less than $1 billion in sales. Life sciences SMBs are growing quickly too, with revenue growth reaching a strong 6.9% in 2020.
Despite this, most industry thought leadership and insight focuses on the challenges and opportunities of larger organizations. To better understand the validation challenges of medium sized companies, we surveyed a group of pharmaceutical and biotechnology organizations in the United States and Europe to uncover their top ten validation challenges – here’s what we found.
When asked to list validation challenges that SMBs face that large organizations do not, 71% of our respondents highlighted resourcing challenges – specifically the availability and scope of existing internal validation departments – impacting their validation processes.
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