The global biotechnology & pharmaceutical services outsourcing market size is expected to be worth around US$ 105.4 billion by 2030 and is predicted to grow at a CAGR of 6.8% during forecast period 2021 to 2030.
The global biotechnology & pharmaceutical services outsourcing market size is expected to be worth around US$ 105.4 billion by 2030 and is predicted to grow at a CAGR of 6.8% during forecast period 2021 to 2030.
Growth Factors
Rising pricing pressure, lack of internal capabilities, low-cost service offerings by CROs and CMOs, and access to industry experts are expected to drive the market over the forecast period. In addition, rising drug development costs, higher failure rates, and growing regulatory pressure have a significant impact on market dynamics, accelerating the growth rate. Furthermore, well-established Clinical Research Organizations (CROs), regulatory outsourcing firms, management consulting firms, and contract manufacturers are catering to the complex demand of the pharmaceutical and biotechnological sectors.
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An increasing number of end-to-end service providers to meet the rising demand for low-cost drug development and manufacturing is further anticipated to propel the growth of the market. Moreover, novel drug delivery mechanisms and new product launches are anticipated to drive the outsourcing demand.
Report Coverage
| Report Scope | Details |
| Market Size | US$ 5.78 billion by 2030 |
| Growth Rate | CAGR of 6.1% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Service, End-use |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | The Quantic Group; IQVIA; Parexel International Corporation; Lachman Consultant Services, Inc.; GMP Pharmaceuticals Pty Ltd.; Concept Heidelberg GmbH; Covance, Inc.; Charles River Laboratories; PRA Health Sciences; ICON plc |
By Service Analysis
Consulting services held the largest revenue share of over 16.0% in 2020. This can be attributed to the increasing M&A activities and constantly changing regulatory protocols.
The pharma and biotech market has witnessed the continuous entry of new players such as Signa Medical Writing; bioSyntagma; and Fieve Clinical Research, Inc. These players need to be compliant with set standards and norms, for which consulting is essential as these new entrants lack in such capabilities.
The other services segment is expected to expand at the highest CAGR over the forecast period owing to rising outsourcing of generics and biosimilar manufacturing as CMOs are offering services at a lower cost. The others segment is inclusive of contract manufacturing, product upgrade, and IT consulting.
By End-use Analysis
The pharma segment held the largest revenue share of over 55.0% in 2020 and is expected to maintain its lead throughout the forecast period. The segment is also expected to witness the fastest growth over the forecast period.
Lack of resources has prompted many pharmaceutical companies to outsource drug development and manufacturing of their products to CROs and CMOS. The CROs and CMOs offer highly sophisticated development and manufacturing services, such as preclinical development, clinical development, commercial manufacturing, clinical manufacturing.
By Regional Analysis
North America dominated the market with a revenue share of over 51.0% in 2020 owing to the presence of several established CROs and CMOs such as Covance Inc.; IQVIA; Catalent; and Samsung Biologics and growing R&D investments by life sciences and pharmaceutical companies in the region.
Asia Pacific is anticipated to witness the highest growth over the forecast period. Low cost of drug development and manufacturing and availability of skilled workforce is likely to foster contract development and manufacturing in this region.
Key Players
- The Quantic Group
- IQVIA
- Parexel International Corporation
- Lachman Consultant Services, Inc.
- GMP Pharmaceuticals Pty Ltd.
- Concept Heidelberg GmbH
- Covance Inc.
- Charles River Laboratories
- PRA Health Sciences
- ICON plc
Market Segmentation
- By Service
- Consulting
- Regulatory Compliance
- Remediation
- Quality Management Systems Consulting
- Others
- Auditing and Assessment
- Regulatory Affairs
- Clinical Trial Applications & Product Registration
- Regulatory Writing & Publishing
- Legal Representation
- Others
- Product Maintenance
- Product Design & Development
- Product Testing & Validation
- Training & Education
- Others
- Consulting
- By End-use
- Pharma
- Biotech
- Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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