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The global biotechnology and pharmaceutical services outsourcing market size is projected to reach USD 108.0 billion by 2030, registering a CAGR of 5.5% over the forecasted period from 2022 to 2030. Factors such as low-cost services offered by CROs and CMOs, growing pricing pressure, increasing drug development costs, expanding regulatory pressure, and lack of internal capacities are expected to accelerate the biotechnological and pharmaceutical services outsourcing market growth significantly over the forthcoming years.
The global dietary supplements market size is expected to grow by USD 327.4 billion by 2030, registering a CAGR of 8.9% from 2022 to 2030. The growing popularity of dietary supplements among the youth has been the prime factor to drive the demand for nutraceuticals.
The global business process outsourcing market size is expected to reach USD 525.2 billion by 2030 and exhibit a CAGR of 9.1% from 2022 to 2030. The adoption of business process outsourcing (BPO) services is based on reducing the cost of business operations by organizations, and accessing global resources, thus meeting the demand of the industry.
The global virtual production market is projected to value USD 6.79 billion by 2030 and register a compound annual growth rate (CAGR) of 17.8% from 2022 to 2030. The primary market driver is the expanding popularity of virtual production in the media and entertainment sector, as well as its ability to produce high-definition images and real-time virtual settings.
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