San Francisco, 02 April , Biotechnology/Pharmaceutical
Services Outsourcing Market Analysis, By Service (Consulting, Auditing &
Assessment, Regulatory Affairs, Product Maintenance, Product Design &
Development, Product Testing & Validation, Training & Education), And
Segment Forecasts, 2018 - 2025
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.
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Research Report On Biotechnology/Pharmaceutical Services Outsourcing
Market Analysis:
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 At: https://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
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
Middle East and Africa (MEA)
o
South Africa
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Press Release of this Report: https://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.
For more
information: www.grandviewresearch.com/
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