The global biotechnology & pharmaceutical services outsourcing market was valued at USD 64.67 billion in 2021 and is expected to hit USD 108.49 billion by 2030, at a CAGR of 5.9% from 2021 to 2030.
The global biotechnology & pharmaceutical services outsourcing market was valued at USD 64.67 billion in 2021 and is expected to hit USD 108.49 billion by 2030, at a CAGR of 5.9% from 2021 to 2030.
The biotechnology and pharmaceutical service outsourcing has become crucial requirement globally. Enhancement in various technologies as well as unpredictable economical environment is grabbing the attention of numerous industries foe service outsourcing across the globe. Moreover, biotechnology as well as pharmaceutical service outsourcing imparts knowledge for staying in competition and enhance flexibility to come up with more efficient outcomes. The outsourcing service includes late-stage development, basic research, assay development, target validation, clinical trials regarding humans as well as efficacy tests in animal model.
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Various Research and development activities regarding new as well as innovative drug development is likely to seek significant demand in the biotechnology as well as pharmaceutical service market. Numerous companies which provide outsourcing services offers low cost in their services that reduces the cost of biotechnology and pharmaceutical industries. High risks of failure in development as well as insufficient internal capabilities in organization also a major reason for significant growth in this market. Another factor which is pushing the market towards tremendous growth is pressure from regulating bodies as well as from government on pricing so that the available drug on the market becomes affordable to the consumers.
Efficiency and productivity also demand huge capital in biotechnology and pharmaceutical industries but due to several constraint such factors sometimes not achievable by them. Hence, the service outsourcing benefitted to such industries to large extend as outsourcing only focus on require measure. However, transferring of technology between the firms could be major restraining factor in the biotechnology as well as pharmaceutical service outsourcing market. Lack of proper communication can hinder the desired outcomes that results in wastage of money as well as time.
| Report Scope | Details |
| Market Size in 2030 | USD 108.49Billion |
| Growth Rate from 2021 to 2030 | CAGR of 5.9% |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
Report highlights-
The report is segmented in three categories such as end-use, service and regions. Based on end-use, the biotechnology & pharmaceutical service outsourcing is segregated into biotech companies as well as pharma companies. Pharma companies are expected to have largest share in this market due to significant number of pharma companies increasing in Asia-Pacific region. According to India brand equity foundation, India holds 3rd rank in global pharmaceutical production as well as facilitates its domestic production with around 3,000 drug companies as well as 10,500 manufacturing units.
Based on service, the biotechnology & pharmaceutical service outsourcing is classified as auditing & assessment, product maintenance, regulatory affairs, training & education, product design and development, product testing and validation as well as consulting. Furthermore, regulatory affairs include legal representation, regulatory writing &publishing, clinical trial applications &product registration as well as others. Consulting segment includes remediation, quality management systems consulting, regulatory compliance as well as others. Consulting segment holds largest share in the market due to activities includes acquisitions as well a merger. In addition, regulatory protocols that keeps changing in accordance with current trend and outcomes.
Based on region, the report in categorized into North America, Europe, Asia-Pacific and other region of the world Based on the region the report is categorized into North America, Europe, Asia-Pacific and Other region of the world. Regional dominance on the market is due to North America North America contributing highest share in the market owing to huge number of pharmaceutical companies in across the region and well-developed countries like U.S. Also, the advancement of innovative technology is well established in the North American region. Moreover, Asia-Pacific region is likely to have significant demand in this market.
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Future of the market-
With growing number of various disease and virus across the globe, the biotechnology & pharmaceutical service outsourcing are likely to have huge demand in coming years. In addition, increase in number advanced facilities as well as infrastructure also contributes towards the significant growth in biotechnology & pharmaceutical service outsourcing market. Moreover, major players in this market such as inspired pharma, quantic group, Lachman associate, management forum, GMP pharmaceutical, Parexel International Corporation are likely to bring effective research in the coming year.
Development in the market place-
December 14, 2021 PCI Pharma Services (PCI), which is manufacturing organization and also indulged in contract development acquired Lyophilization Services that is also involved in same business. This acquisition has helped PCI Pharma service to expand its business as now it is offering collaborated small as well as large molecule solution is required to mainly its commercial and clinical clients.
October 25, 2021 Phoenix Parentco Inc. offers biopharmaceutical outsourcing services to biopharmaceutical companies acquired Parexel International Corporation to expand its service and deliver efficient services to its clients.
May 1, 2019 Intertek indulged in providing total quality assurance has expanded its business in Europe region such as UK. It has set up its pharmaceutical service laboratory in Melbourn situated near Cambridge. This expansion has increased its existing footprint to provide more services to its clients. Moreover, the company is planning to develop inhaled biologics that will expand its inhalation as well as nasal testing resources.
The prominent market players operating in the biotechnology & pharmaceutical services outsourcingmarket includes:
- ICON Plc
- The Quantic Group
- Covance Inc.
- PFA Health Sciences
- IQVIA Holdings Inc.
- Lachman Consultant Services
- Charles River
- Parexel International Corporation
- GMP Pharmaceuticals
- Concept Heidelberg GmbH
Segments Covered in the Report
By Services
- Consulting
- Auditing and Assessment
- Regulatory Affairs
- Others
By Services Outsourcing
- Pharma
- Biotech
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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