Biotechnology Services Outsourcing Market To Reach $92.9 Billion By 2025: Grand View Research, Inc.
The global biotechnology services outsourcing market is
expected to reach USD 92.9 billion by 2025, according to a new report by Grand
View Research, Inc. Pharmaceutical industry has been adaptive of the function
of outsourcing certain clinical and corporate functions as early as 2002. Among
the services outsourced, clinical trial management and contract manufacturing
were the forerunners. For instance, Johnson & Johnson was the first
pharmaceutical company to outsource its applications development and
maintenance (ADM).
In 2015, over USD 50.0 billion was
spent on pharmaceutical R&D activities majorly on oncology, diabetes, and
autoimmune therapy classes, which is expected to propel the biotechnology
services outsourcing market growth over the forecast period.
Shrinking profit margins coupled
with rising competition in the market space, and augmenting regulatory burden
are other vital impact rendering factors. The pharmaceutical services
outsourcing market is expected to register growth at a CAGR of 8.7% during the
forecast period. On the other hand, pending immigration legislations in the
U.S. may hinder business economics and outsourcing risks.
Pharmaceutical and biotechnology
industries in Europe are significantly investing in R&D in the recent year
owing to rising demand for advanced medicines. This may be attributed to
increasing aging population, incidence of chronic diseases, and communicable
diseases.
Browse full research report on Biotechnology Services Outsourcing Market: http://www.grandviewresearch.com/industry-analysis/biotechnology-pharmaceutical-services-outsourcing-market
Further key findings from the
study suggest:
- Consulting
services are inclusive of regulatory compliance, remediation, and quality
management systems consulting, which is expected to dominate the
pharmaceutical services outsourcing market in 2025.
- In
2013, the U.S. FDA revised the guidelines for registration trials of drugs
used in the treatment of acute bacterial skin and skin structure
infections, thereby promoting growth of regulatory affairs services.
- Other
services such as contract manufacturing, product upgrade, and IT
consulting services are projected to grow swiftly. Increasing focus on
generic medicine and regional expansions in developing regions are some of
the key contributing factors
- Presence
of cheap labor, skilled personnel and rapid growth of the pharmaceutical
industry within the Asia Pacific region presents numerous opportunities
for service providers, thereby representing a lucrative growth rate over
the forecast period.
- Service
based expertise may be found in players such QuintilesIMS, Parexel
Corporation, Lachman Consultant Services, Inc., Concept Heidelberg GmbH,
and others. These players compete on the basis of service quality,
competitive pricing, and long-term relations with healthcare industry
participants.
Browse more reports of this
category by Grand View Research: http://www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented
the global biotechnology/pharmaceutical services outsourcing market on the
basis of service, and region:
Global
Biotechnology/Pharmaceutical Services Outsourcing Service Outlook
(Revenue, USD Million, 2014-2025)
- Consulting
- Auditing
& assessment
- Regulatory
affairs
- Product
maintenance
- Product
design & development
- Product
testing & validation
- Training
& education
- Others
Biotechnology/Pharmaceutical
Services Outsourcing Regional Outlook (Revenue, USD Million, 2014-2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa (MEA)
- South
Africa
Access press release of this
research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-biotechnology-pharmaceutical-services-outsourcing-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
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