Global Biotechnology & Pharmaceutical Services Outsourcing Market Growth (Status and Outlook) 2023-2029

Global Biotechnology & Pharmaceutical Services Outsourcing Market Growth (Status and Outlook) 2023-2029

When it comes to pharmaceutical research and development however, success is never guaranteed. The average cost of drug development can reach into the billions of dollars, and it takes an average of 10 years to bring a new drug to market. In addition, many drugs fail to be clinical effective and subsequently never see the light of day.

Due to these risks, pharmaceutical companies are not always eager to utilize their onsite resources for drug R&D. Certain cost-saving measures implemented in the pharmaceutical space have included outsourcing these activities, helping organizations reduce both their operational and manufacturing costs, thereby lowering financial risk.

LPI (LP Information)' newest research report, the “Biotechnology & Pharmaceutical Services Outsourcing Industry Forecast” looks at past sales and reviews total world Biotechnology & Pharmaceutical Services Outsourcing sales in 2022, providing a comprehensive analysis by region and market sector of projected Biotechnology & Pharmaceutical Services Outsourcing sales for 2023 through 2029. With Biotechnology & Pharmaceutical Services Outsourcing sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Biotechnology & Pharmaceutical Services Outsourcing industry.

This Insight Report provides a comprehensive analysis of the global Biotechnology & Pharmaceutical Services Outsourcing landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Biotechnology & Pharmaceutical Services Outsourcing portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Biotechnology & Pharmaceutical Services Outsourcing market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Biotechnology & Pharmaceutical Services Outsourcing and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Biotechnology & Pharmaceutical Services Outsourcing.

The global Biotechnology & Pharmaceutical Services Outsourcing market size is projected to grow from US$ 58090 million in 2022 to US$ 92090 million in 2029; it is expected to grow at a CAGR of 6.8% from 2023 to 2029.

North America held more than 50.0% share for the pharmaceutical/biotechnology services outsourcing market in 2015. The presence of several multinational and local consulting firms in this region contributed towards the growth in this region.

Asia Pacific is anticipated to witness lucrative growth over the forecast period. Low cost of manufacturing and availability of qualified labor is likely to foster contract manufacturing in this region. Moreover, economic policy reforms in countries such as India and China are anticipated to create open and balanced economy, which presents ample opportunity for market players to invest in this region.

This report presents a comprehensive overview, market shares, and growth opportunities of Biotechnology & Pharmaceutical Services Outsourcing market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Consulting
Auditing & Assessment
Regulatory Affairs
Product Maintenance
Product Design & Development
Product Testing & Validation
Training & Education
Others

Segmentation by application
Regenerative Medicine
Biobanking
Drug Discovery

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Quantic Group
QuintilesIMS
Parexel International Corporation
Lachman Associates
GMP Pharmaceuticals
Management Forum
Quality Context
Inspired Pharma
Concept Heidelberg GmbH
RSSL

Please note: The report will take approximately 2 business days to prepare and deliver.