Sonoco ThermoSafe Survey Reveals Current and Future Trends In Clinical Trial Supplies Market
Arlington Heights, Ill., U.S. – Sonoco ThermoSafe, a unit of Sonoco (NYSE:SON) and a leading global provider of temperature-controlled packaging, in partnership with Arena International Events Group and Berlinger & Co. AG, today announced the results of an industry survey entitled "Assessing the Current and Future State of Clinical Trial Supplies." The survey was co-developed by an advisory panel of industry experts from clinical operations, clinical trial supply logistics and packaging, as well as bio-pharma manufacturing and supply chain organizations.
The survey was conducted between March and December 2016 and highlights forward-looking trends in areas that influence the clinical trials supply chain – including adoption of technology, scope and pace of supply chain innovation and logistics/distribution strategy. A total of 230 healthcare industry professionals participated in the survey, representing organizations from more than 20 countries and clinical supply operations across five continents.
According to Vishal Khushalani, director of global marketing and business development at Sonoco ThermoSafe, the study revealed several key insights:
· 53% of respondents from the sponsor organizations reported they outsource more than 61% of their clinical trial supply budget.
· Close and reliable partnerships between clinical and operational teams were cited as the most important factor in successful supply forecasting: relationships with CRO 87%, distributor/packaging supplier 85% followed by the manufacturer 74%.
· 24% of respondents currently use a direct-to-patient (DTP) distribution model. One-third of those who don't use DTP today plan to adopt this distribution model over the next 12-18 months, driven by the desire to optimise cost of recruitment, patient interactions and leverage efficiencies in data collection/visibility using technology and specialist service providers.
· 69% of respondents anticipate investment in mobile technology in the next two years. Lack of a user friendly interface and data security concerns topped the list of factors limiting their company's investment in mobile technology platforms.
· Respondents found logistics between depot and clinical sites most challenging in South America, Central America and Asia. Further, the survey indicates widespread use of clinical trial supply partners, with 86% of respondents using an import broker to overcome regional challenges such as compliance with import/export regulations for shipments of clinical trial supplies.
"As a leader in passive and active cold-chain packaging, Sonoco ThermoSafe continuously strives to be at the forefront of upcoming trends and key issues that drive the industry," said Russell Grissett, division vice president and general manager of Sonoco ThermoSafe. "The insights gained through this survey will hopefully help companies baseline their current strategies in clinical trial logistics, supply chain and technology and guide future investments."
Detailed findings will be presented at The 6th Annual Clinical Trial Supply New England conference in Boston, Mass. on March 8, 2017 and at subsequent Arena International Group events across North America, Europe and Asia throughout 2017. Survey results are available in the form of an infographic and a detailed report and can be downloaded at: www.thermosafe.com/ctssurvey.
About Sonoco ThermoSafe
Sonoco ThermoSafe, a unit of Sonoco (NYSE:SON), is a leading global provider of temperature assurance packaging for the safe and efficient transport of pharmaceuticals, biologics, vaccines and other temperature-sensitive products. Sonoco ThermoSafe shipping solutions mitigate risk for our customers and ensure product efficacy throughout the extremes of a supply chain. With operations in Americas, Europe and Asia, Sonoco ThermoSafe has a vast product offering featuring industry-leading technology that encompasses refrigerated, frozen or controlled room temperature applications. In addition, Sonoco ThermoSafe's ISC Labs® delivers individualized design and testing services and innovative packaging solutions along with qualification and validation services to meet all regulatory requirements. More information can be found at www.thermosafe.com.
Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. With annualized net sales of approximately $4.8 billion, the Company has 20,000 employees working in more than 300 operations in 35 countries, serving some of the world's best known brands in some 85 nations. For more information on the Company, visit our website at www.sonoco.com.
Contact: Brian Risinger