Several Companies in this Domain have Established Strong Brand Positions Across Different Regions; I

Brand positioning analysis of the key industry players helps to develop an understanding on how the brands of companies are currently perceived / positioned in different market segments relative to their competitors. In addition, this analysis can help players to determine improvement areas by identifying gaps between their existing capabilities as well as recognize ways to gain a competitive advantage in the mid to long term.

Brand Positioning Matrix: Labcorp

Labcorp claims to have expertise in the healthcare diagnostics domain, offering a broad range of clinical laboratory and drug development services through its LabCorp Diagnostics and Covance Drug Development (CDD) segments. In February 2015, Labcorp acquired Covance with an aim to provide a complete set of services to the healthcare industry. Presently, CDD offers end-to-end solutions / services for conducting medical device focused clinical trials with the help of its experienced staff. It is worth noting that, in FY 2019, Labcorp generated revenues worth USD 11.6 billion, representing an increase of 2.0% as compared to the revenues from FY2018. The increase was attributed to the growth from acquisitions undertaken by the company (2.3%) and organic growth (1.6%). Examples of a high value acquisition carried out by the company includes that of Chiltern for a total consideration of approximately USD 1.2 billion.

Under its medical device segment, Covance offers clinical trial management services, such as clinical strategy and clinical study start-up. Apart from clinical services, the company provides regulatory affairs management services, namely gap analysis, risk management, technical dossier set-up and vigilance services. In addition, the company offers biostatistics, consulting, post-market activities, quality assurance and training services to its clients. Labcorp has established its footprints in all key geographies. Furthermore, the company claims to have expertise in majority of the therapeutic areas, including cardiovascular disorders, CNS disorders, dermatological disorders, immunological disorders, infectious diseases, kidney diseases, metabolic disorders, oncological disorders and rare diseases.

The ‘Medical Device CROs Market (2nd Edition), 2020-2030’ report features an extensive study of the current market landscape and future opportunities of contract research service providers focused on medical devices. The study also features an in-depth analysis, highlighting the capabilities of the various stakeholders engaged in this domain, across different regions of the globe. Amongst other elements, the report includes:

• A detailed review of the overall landscape of medical device CROs, along with information on year of establishment, company size, location of headquarters, type of service offered by [A] clinical service providers (biostatistics, consulting, clinical operations, post marketing surveillance / studies, quality assurance, regulatory affairs management, reimbursement and training), [B] preclinical service providers (consulting, biocompatibility testing, materials characterization and analytical testing, preclinical trials support, sterility testing and microbiology testing, and training) and [C] stand-alone service providers (consulting, training, quality assurance, clinical operations, and regulatory affairs management).
• An elaborate discussion on the various guidelines established by major regulatory bodies for medical device approval across North America (the US, Canada and Mexico), Europe (France, Germany, Italy, Spain, the UK and rest of Europe), and Asia-Pacific and rest of the world (Australia, Brazil, China, India, Israel, Japan, New Zealand, Singapore, South Africa, South Korea, Taiwan, and Thailand). The report also features an insightful multi-dimensional, heat map analysis, featuring a comparison of the contemporary regulatory and reimbursement scenarios in key geographies across the globe.

Roots Analysis provides market research and consulting in the pharmaceutical industry. Focussed on providing an informed and impartial view on key issues facing the industry, our research is primarily driven by an in-depth analysis.