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Biotechnology & Pharmaceutical Services Outsourcing Market Report, 2028

Biotechnology & Pharmaceutical Services Outsourcing Market Analysis Report By Service, By End-use And Segment Forecasts From 2021 To 2028

Report ID: MN17620269  |  Published: August 2021  |  No of Pages: 110
Format: Electronic (PDF)  |  Industry: Pharmaceuticals  |  Publisher: Grand View Research

Synopsis

The global biotechnology & pharmaceutical services outsourcing market was prized by USD 61.2 billion in 2020. It is estimated to witness a 5.2% CAGR from 2021 to 2028.

Drivers

The offerings of the services, at low down prices by the Contract Manufacturing Organizations (CMOs) and Contract Research Organizations (CROs), increasing pressure of pricing, short of in-house ability, in addition to approach to the proficiency of the business, these are some of the factors, estimated to power the market for biotechnology & pharmaceutical services outsourcing, during the forecast period.

US biotech pharma services outsourcing market

Increasing overheads of medicine development, together with greater failure percentage and rising authoritarian demands, moreover, contain a considerable effect on the dynamics of the market.

Contract manufacturers, authoritarian outsourcing companies, administration consulting companies, and entrenched CROs are catering to the composite requirement of biotechnological as well as pharmaceutical divisions.

To obtain a large income share of the market for healthcare outsourcing, contract research and manufacturing companies are spending on technology, human resources, and infrastructure. The rising figure of the end-to-end service suppliers, to encounter the increasing demand for low-priced medicine development in addition to manufacturing, is expected to boost the expansion of the biotechnology & pharmaceutical services outsourcing market. New means of medicine delivery along with initiation of fresh products are expected to, furthermore, impel the demand for outsourcing.

The global pharmaceutical industry contains the subsequent maximum R&D strength, at present. This shows that the expenditure on R&D is rising and the general expenses are expected to increase, throughout the forecast period. Thus, rising R&D expenditure is estimated to propel the market, for the duration of the forecast.

Effect of Covid-19

The eruption of the Covid-19 pandemic is containing a substantial influence on the outsourcing of Pharma and biotech services. Limitations on movement along with the instructions for a wait at home are helping in decrease the spread of the disease. On the other hand, this is making difficulty in clinical trials along with the additional services, projected to discover efficient treatments for a variety of sicknesses. The reliability of more than 330,000 clinical trials, listed on Clinicaltrials.gov, remains at risk since the Covid-19 goes on increasing, globally.

Service Insight

The consulting services sector held the major, more than 19.0% revenue share of the biotechnology & pharmaceutical services outsourcing market, in 2020. It will maintain its important place, all through the forecast period. This enlargement can be accredited to the growing M&A actions along with the continuously altering authoritarian procedures. Biotech and Pharma markets have, moreover, observed the regular entrance of new-fangled companies, for example, Fieve Clinical Research, Inc., Signa Medical Writing, and bio Syntagma.

These companies need to be acquiescent with prepared standards in support of that consulting. It is necessary because fresh competitors do not have these abilities. Consulting services include consulting for the quality administration arrangement, authoritarian fulfillment, remediation, plus additional services.

On the other hand, the other services sector is estimated to record the highest CAGR, during the forecast period because of the increasing outsourcing of generics as well as manufacturing of biosimilar, because, the CMOS is presenting services at lesser prices. The other services sector comprises IT consulting, contract manufacturing, and up-gradation of the product.

End-Use Insight

The Pharma end-use sector held, above 55.0% revenue share and dominated the global biotech & pharma services outsourcing market, in 2020. The sector is expected to additionally develop by the highest CAGR, during the forecast period.

Global biotech pharma services outsourcing market

The suppliers of contract services are known as an effectual tactical choice to control the problem of medicine deficit along with the elevated overheads of manufacture, over and above experience the rising demand. The short of funds has driven numerous pharmaceutical companies to contract out the activities like medicine development as well as production to CMOs and CROs.

Regional Insight

As a result of the existence of numerous recognized CMOs, and CROs, for example, Covance Inc., in addition to raising funds for the R&D activities, by pharmaceutical and life sciences companies within the region, North America held the maximum, more than 54.0% share of the global biotechnology & pharmaceutical services outsourcing market, in 2020.

Besides, the growth of overseas CROs and CMOs within the region is anticipated to impel the enlargement of the market. For example, Bora Pharmaceuticals got an endorsement for its CMO services from FDA, in September 2019, and it started office for sales in Delaware, to increase its business out of Asia.

The Asia Pacific is expected to be the highest rising local market, during the forecast period. The availability of an experienced labor force along with the low down price of medicine development and the cost of manufacturing are the important factors, inspiring the regional market.

Additionally, restructuring of the financial policy in nations, like China, is expected to generate a reasonable financial system that offers sufficient opening for market contestants to invest within this region.

Companies

The manufacturing companies are taking on various policies such as reasonable pricing, merger & acquisition, expansion of service range, and regional development to obtain a greater share of the market and keep going in the extremely aggressive surroundings.

The increasing complications are likely to produce differences in understanding amid the healthcare business. To assist in decreasing the inconsistency, educating human resources is of the highest significance.

Some of the companies for the biotechnology & pharmaceutical services outsourcing market are:

    • ICON plc
    • Charles River Laboratories
    • Concept Heidelberg GmbH
    • Lachman Consultant Services, Inc.
    • IQVIA
    • PRA Health Sciences
    • Covance Inc.
    • GMP Pharmaceuticals Pty Ltd.
    • Parexel International Corporation
    • The Quantic Group

Report Scope

Report Attribute

Details

The market size value in 2021

USD 63.9 Billion

The revenue forecast in 2028

USD 91.4 Billion

Growth rate

CAGR of 5.2% from 2021 to 2028

The base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Service, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

The Quantic Group; IQVIA; Parexel International Corp.; Lachman Consultant Services, Inc.; GMP Pharmaceuticals Pty Ltd.; Concept Heidelberg GmbH; Covance, Inc.; Charles River Laboratories; PRA Health Sciences; ICON plc

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country & segment scope.

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs. 


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global biotechnology and pharmaceutical services outsourcing market report on the basis of service, end-use, and region:

• Service Outlook (Revenue, USD Million, 2016 - 2028)
    • Consulting
        • Regulatory Compliance
        • Remediation
        • Quality Management Systems Consulting
        • Others
    • Auditing & 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

• End-use Outlook (Revenue, USD Million, 2016 - 2028)
    • Pharma Companies
    • Biotech Companies

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
    • the Asia Pacific
        • Japan
        • China
        • India
        • Australia
        • South Korea
    • Latin America
        • Brazil
        • Mexico
        • Argentina
    • Middle East & Africa
        • South Africa
        • Saudi Arabia
        • UAE

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