Partnering with the Right FSPs in 2025: Insights from Luminary Group
Clinical research is evolving faster than ever. Innovative therapies, decentralized trial designs, and growing regulatory complexity mean that the right partner can make or break a study. At Luminary Group, we help life sciences companies identify Functional Service Providers (FSPs) that don’t just deliver a service — they become an extension of your team.
Here’s what we’re seeing in 2025 and how to approach choosing your FSP strategically.
What is an FSP?
Functional Service Providers (FSPs) handle specific pieces of your clinical trial rather than managing the entire project. They are specialist teams: biostatisticians, data managers, medical writers, or clinical monitors who slot seamlessly into your program where you need extra capacity or expertise.
Why this matters: You maintain focus on your core strengths while relying on specialists to handle complex or resource-intensive parts of your trial.
Why FSPs Are Becoming Indispensable
Recent trends highlight why FSPs are no longer just optional support — they’re strategic partners:
Decentralized & Hybrid Trials: Remote monitoring, wearable devices, and telemedicine require FSPs with digital fluency and operational flexibility.
Data Explosion : With genomics, biomarkers, and real-world evidence, teams need FSPs capable of handling large, complex datasets quickly and accurately.
Regulatory Complexity: Cell and gene therapies, rare disease studies, and international trials demand compliance expertise across multiple regions.
Global Footprint, Local Knowledge: Trials are spread across continents. Top FSPs combine scalability with deep local insight.
Flexible Engagement Models: Leading providers can scale from providing a few specialists to managing entire functional areas, adapting to your trial’s needs.
What Makes an FSP Stand Out
Not all FSPs are created equal. Here’s what to look for when matching your project with a partner
Scale & Agility: Can they grow with your project or pivot quickly if requirements change?
Therapeutic Expertise: Do they understand your disease area and anticipate challenges before they arise?
Tech-Forward Approach: Are they using predictive analytics, digital platforms, and AI to streamline trial operations?
Quality & Compliance: Strong audit history and regulatory know-how are essential.
Communication & Transparency: Regular, clear updates and proactive problem-solving matter.
Cultural Alignment: Their approach to patient care and ethics should mirror yours.
Top 10 Global FSP Providers (2025)
Here’s a snapshot of some of the providers shaping the functional service landscape today:
Company | Strengths | Best Fit For |
IQVIA | Global scale, advanced data analytics, FSP 2.0 platform, deep therapeutic and data capabilities | Large, complex global programs requiring integrated FSP models |
Parexel | Regulatory strategy, medical writing, translational medicine, and strong scientific engagement | Sponsors entering new regions or running regulatory-heavy studies |
Fortrea | Dedicated FSP business post-Labcorp spin-off, robust biometrics, clinical ops, and site management infrastructure | Sponsors seeking scalability and mature FSP delivery backed by Covance heritage |
ICON | Broad functional coverage, operational excellence, and high-performance global delivery | Large pharma outsourcing multiple functions or global portfolios |
Syneos Health | Integrated clinical and commercial model, flexible delivery, and depth across therapeutic areas | Sponsors bridging early trials to market launch |
Precision for Medicine | Biomarker-driven, hybrid trial support, biotech-centric delivery model | Innovative biotech, precision medicine, and cell & gene therapy sponsors |
Quanticate | Specialist in biometrics, programming, and statistical analysis | Biotech or mid-sized pharma needing data-heavy FSP support |
Premier Research | Rare disease and pediatric expertise, niche therapeutic specialization | Sponsors in orphan or small-population indications |
Caidya (formerly Clinipace + dMed) | Tech-enabled FSP delivery, digital trial management, adaptive and cost-effective engagement models | Emerging biotechs seeking tech-driven, flexible FSP partnerships |
PSI CRO | High retention, tailored engagement, and regionally strong operations | Biotechs valuing personalized service, consistency, and agile scaling |
Choosing the Right FSP
When evaluating potential partners, consider:
> Experience in your therapeutic area and trial model
> Ability to operate across multiple regions at the required scale
> Strength of digital and data capabilities
> Compliance track record and risk management
> Flexibility to scale or adjust scope as your project evolves
> Cultural and ethical alignment
Looking Ahead
The next few years will see an even stronger focus on:
> Integrating real-world data and digital endpoints
> Enhancing patient experience to improve retention and outcomes
> Sustainable trial operations with reduced environmental impact
> Navigating evolving global regulations and data privacy requirements
The right FSP becomes more than a service provider — they are a strategic partner helping you navigate complexity, accelerate timelines, and ensure quality.
Luminary Group Perspective
At Luminary Group, we specialise in executive search and talent solutions for the life sciences and biotech sectors. Our mission is to connect visionary leaders with organisations driving innovation, ensuring the right people are in place to shape the future of healthcare and scientific discovery. Whether you’re a company seeking top-tier talent or a professional exploring your next career move, we’re here to guide and support you every step of the way.