LONDON–Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Bulk Drug Raw Materials Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the pharma and healthcare industry. This report breaks down the data and analysis behind the procurement of bulk drug raw materials and acts as an all-inclusive guide for making smart purchasing decisions.
“The global demand for the bulk drug raw materials market can be attributed to the rise in demand for generic drugs due to their low-price and increase in government support for suppliers of the industry,” says SpendEdge procurement research analyst Tridib Bora. “APAC is the main production hub for the industry due to the availability of ingredients for the production and low-labor-cost, this region constitutes nearly 80%–90% of the entire global niche suppliers for APIs that are into specialty and high-potency API manufacturing,” added Tridib.
Key Report Features
|Supply Market Insights||Negotiation Strategies|
|Procurement Best Practices||Category Risk Analysis|
|Cost Saving Opportunities||Key Supplier Analysis|
|Pricing Models||Supplier Capability Matrix|
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- Increasing support from governments worldwide in the form of funds and license approval for suppliers in emerging countries such as India has led to the growth of suppliers in these regions. Moreover, growing patent expiration of expensive branded drugs has resulted in the shift, leading to a rise in production of generic drugs, which consequently drives the global bulk drug raw material market.
- The buyers in the bulk raw materials market should integrate Big Data analytics in sourcing processes; this offers them valuable pricing insights from the available data. Also, Big Data analytics will eradicate the challenge of transparency in the supply chain through real-time visibility of the data by either party.
- One of the key challenges faced by the buyers in this market includes the difficulty in managing multiple suppliers. The buyers in this market space prefer multi-sourcing procurement techniques to avoid unwanted interruption in supply which leads to complications in the supply chain. Hence they should engage with third-party audit service providers that check suppliers' business operations.
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Bulk Drug Raw Materials Market Pricing Trends
The value-based pricing model and volume-based pricing are the two widely adopted pricing models in the bulk drug raw materials industry as these models help buyers to attain cost-savings in the form of discounts on bulk purchase. Vale-based pricing model enables the buyers to adopt aggressive pricing which helps them compete in the market.The buyers who adopt the unit-pricing model require minimal management effort during supplier comparisons and it also helps them set better procurement budgets.
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