The latest report on the Biotechnology and Pharmaceutical Services Outsourcing Market is 250 pages long and includes a number of tables and figures. This report covers the period from 2023 to 2030 and offers valuable insights into the market landscape.
Global Biotechnology & Pharmaceutical Services Outsourcing Market to reach USD 92 billion by 2027.Global Biotechnology & Pharmaceutical Services Outsourcing Market is valued approximately at USD 62.0 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.8% over the forecast period 2021-2027.
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Biotechnology & pharmaceuticals outsourcing services includes outsourcing of R&D activities by pharmaceutical and medicines manufacturers. The global Biotechnology & Pharmaceutical Services Outsourcing market is being driven by rise in focus on core competencies by various pharmaceutical and biotechnology companies and rising drug development costs along with clinical development failure rates. Furthermore, rising mergers and collaborations, will provide new opportunities for the global Biotechnology & Pharmaceutical Services Outsourcing industry. For instance, as of year 2020 around 330,000 clinical trials were registered on Clinicaltrials.gov which remains vulnerable as coronavirus continues to spread worldwide.
In March, 2020, more than 18 pharma or biotech companies has reported disturbance in the development of drug as a result of pandemic, as a result rise in focus on drug developing will serve as a catalyst for the Biotechnology & Pharmaceutical Services Outsourcing industry in the future. However, issue related to monitoring and lack of standardization and loss of control may impede market growth over the forecast period of 2021-2027.
Key Companies Covered in the Biotechnology & Pharmaceutical Services Outsourcing Market Research are The Quantic Group, Iqvia holdings, inc., Parexel International Corporation, Lachman Consultant Services, GMP Pharmaceuticals, Concept Heidelberg GmbH, Covance, INC., Charles River, PRA Health Sciences, ICON plc and other key market players.
Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key region considered for the regional analysis of globalbiotechnology & pharmaceutical services outsourcing. The presence of several established CROs and CMOs makes the North America the leading region across the world in terms of market share. Whereas , Asia pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to lower cost of drug development and manufacturing and availability of skilled workforce.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Service:
Consulting
Auditing and assessment
Regulatory affairs
Product maintenance
Product design & development
Product testing & validation
Training & education
Others
By End-use:
Pharma
Biotech
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Biotechnology & Pharmaceutical Services Outsourcing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type’s and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the Market opportunities, market risk, and market overview of this industry?
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