Pharma Market Research Staffing Increased 21% in 2007

RESEARCH TRIANGLE PARK, NC--(Marketwire - August 8, 2007) - A new study finds that pharmaceutical companies increased their overall market research headcount by an average 21% between 2006 and 2007, according to business intelligence firm Cutting Edge Information http://www.PharmaMarketResearch.com.

Cutting Edge Information's study benchmarks pharmaceutical companies' market research budgets and staffing both in the US and in the rest of the world. According to the findings, US market research headcounts increased 12% between 2006 and 2007. During the same period, rest-of-world market research headcounts jumped an average 30%.

"Developing Integrated Market Research Functions: Decision Support for 2008" breaks down companies' market research headcounts, especially the relationship between internal market research strategists and outsourced vendors. The study also found that nearly 90% of participating pharmaceutical and biotechnology companies outsource their primary research needs.

"As the pharmaceutical industry is working to try and find new markets to tap into, it makes sense that market research headcounts would increase to accommodate a greater workload," said Elio Evangelista, research team leader at Cutting Edge Information. "The staffing increase in marketing support departments, such as market research, may be a leading indicator for increase product development in the near future."

The study finds that market research staffs are affected as much by changes in market conditions as they are affected by budget increases or decreases. These human resources increase and decrease most often with the addition or subtraction of new products in the company portfolio. "An increase in the average market research headcount among participating companies is a strong sign that pharmaceutical companies are confident in their pipeline products," Evangelista said.

"Developing Integrated Market Research Functions: Decision Support for 2008," available at http://www.PharmaMarketResearch.com, is an extensive guide outlining surveyed companies' market research structures, budgets, staffing and outsourcing metrics. The report also includes best practices and strategies for elevating the market intelligence function to a stronger, more strategic decision support organization.

To download a free summary of this 173-page report, visit http://www.cuttingedgeinfo.com/pharmamarketresearch/index.htm#body. For more information on this report or to learn about other research being conducted by Cutting Edge Information, contact Oveda Slade at oveda_slade@cuttingedgeinfo.com or 919-403-6583.

Contact Information: Contact: Oveda Slade 919-403-6583