Parexel Commended by Frost & Sullivan for Developing a Flexible and Agile Delivery Model to Improve Clinical Trial Outcomes
The company employs real-world data and evidence to accelerate research through targeted site and patient recruitment strategies
Based on its recent analysis of the global clinical research organization (CRO) market, Frost & Sullivan recognizes leading global CRO Parexel with the 2021 Global Enabling Technology Leadership Award. Parexel streamlines clients’ clinical development programs, enabling them to navigate market, regulatory, and patient access-related challenges seamlessly. Leveraging a leading suite of end-to-end biopharmaceutical development services covering patient-focused clinical trial design and decentralized clinical trial (DCT) strategies, the company has helped develop 198 of the 200 top-selling biopharmaceuticals in the market.
“Parexel employs a dedicated project team to incorporate patient insights into trial planning, design, and execution. With an eminent understanding of both late-phase research approaches and regulatory and market-access decision-making, the team designs and efficiently conducts several therapy programs in the advanced stages of clinical development and the post-approval setting," said Surbhi Gupta, Industry Analyst for Frost & Sullivan. "Ultimately, it improves trial participation rates and patient engagements to increase patient recruitment and retention; thus, driving better outcomes and trial success rates."
With a heightened focus on patient-centricity, real-world data, real-world evidence, precision medicine, and adaptive and flexible trial design, Parexel established a Patient Innovation Center (PIC). The PIC team explores and implements strategies to empower patients as experts and actively involves them in the drug development process. This model supports a spectrum of program development and execution initiatives across all phases of clinical trials, external control arms, low-intervention trials, electronic clinical outcome assessments (eCOA), and retrospective chart reviews.
The company's data-driven risk-based monitoring technique combines adaptive site management methods such as source data review and reduced source data verification to define risk indicators and interventional triggers. Further, the innovative built-in data-driven monitoring and data surveillance dashboard allows a holistic and targeted assessment. Parexel's monitoring techniques help sponsors make data-driven decisions across the project lifecycle for superior resource optimization, research data integrity, outcome predictions, intuitive insights into site performance, and risk measurement.
"By applying data-driven risk-based monitoring approaches, Parexel identifies and quantifies risks early to take proactive actions throughout a trial's lifecycle," noted Supriya Lala, Best Practices Research Analyst for Frost & Sullivan. "Overall, it blends organic and inorganic growth strategies as well as a keen focus on customer centricity to reinforce its market position as a partner-of-choice in the global CRO market."
Each year, Frost & Sullivan presents the Global Enabling Technology Leadership award to a company developing a pioneering technology that enhances current products and enables the development of new products and applications. The award recognizes the high market acceptance potential of the recipient’s technology.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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About Parexel International Corporation
Parexel supports the development of innovative new medicines to improve the health of patients. We provide services to help life sciences and biopharmaceutical customers everywhere transform scientific discoveries into new treatments. From decentralized clinical trials to regulatory consulting services to leveraging real world insights, our therapeutic, technical, and functional ability is underpinned by a deep conviction in what we do. Parexel was named “Best Contract Research Organization” in December 2020 by an independent panel for Informa Pharma Intelligence. For more information, visit parexel.com and follow us on LinkedIn, Twitter, and Instagram.
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