1 year ago
July 26, 2019
Slator 2019 Life Sciences Translation Report
The Slator 2019 Life Sciences Report outlines the drug development process and identifies the different content types arising from activities carried out within the pharmaceutical industry. The complex and lengthy process of bringing drugs to market is intentionally rigorous so as to ensure appropriate levels of drug safety and efficacy. On average, each new drug takes 12 years and an investment of USD 1.5bn to develop, with many initially promising drugs falling by the wayside during the process.
The report then examines the role of language services within the clinical life sciences space, a USD 1.01bn market in 2019. Language services facilitate the clinical trial process, which typically takes place in different territories among different populations around the world. Drugs, once approved for the market, are sold across the globe, and patients must be adequately informed about the drug in a language they can understand.
Slator 2019 Life Sciences Translation Report
In the Industry Service Model section, the report looks at key factors for language service providers (LSPs) competing in this market. For instance, the ability to recruit and maintain a database of highly-skilled translators, project managers, and sales teams, as well as to invest in technology are factors that can heavily influence the relative success of LSPs competing in this space. The capacity to fulfill regulatory, audit, and best practice requirements is another key consideration for LSPs. Referencing industry standard guidelines, this section also features a deep dive into the robust, high-margin linguistic validation process.
The report identifies the primary providers (LSPs) operating in clinical life sciences, many of whom are embedded within the clinical supply chain in that they offer regulatory and clinical services that extend beyond translation. It also highlights key pharma companies and contract research organizations (CROs), typical buyers of language services, and describes the, at times, complex subcontracting relationship between CROs and LSPs.
The report is augmented by buyer insights resulting from a series of interviews with representatives of major global pharma companies and CROs, which speak to outsourcing strategies, attitudes toward machine translation, and an outlook on future spend.
These actionable insights are supplemented with information to help drive sales and business development, including common buyer job titles and industry-specific events, which will give readers the tools and information needed to approach potential buyers within the clinical life sciences space.
Table of Contents
| Executive Summary | 4 |
| Life Sciences Industry Overview | 4 |
| The Role of Language Services in the Industry | 6 |
| Market Size | 6 |
| Industry Service Model | 7 |
| Content | 7 |
| Core Services | 8 |
| Technology | 8 |
| Language Production / Linguists | 9 |
| Automation Suitability | 10 |
| Quality Standards, Regulators, and Best Practice | 10 |
| Linguistic Validation Workflow | 11 |
| Competitive Landscape | 13 |
| Main Providers | 13 |
| Major Buyers | 15 |
| Pharmaceutical Companies / Sponsors | 15 |
| CROs | 16 |
| Buyer Insights | 18 |
| Industry Trends | 21 |
| Adjacent Services and Markets Worth Keeping in Mind | 22 |
| Sales, Business Development, Marketing | 22 |
| Sales | 22 |
| Business Development | 23 |
| Buyer Job Titles | 23 |
| Marketing | 24 |
| Events | 24 |
| Slator In-Person Lead Generation | 24 |
| Slator Advisory | 24 |
How To Use This Report
Slator’s easy-to-digest research offers the very latest industry and data analysis, providing language service providers, end-clients, and investors the confidence to make informed and time critical decisions. It is a cost-effective, credible resource for busy professionals.
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