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.
