Biotechnology & Pharmaceutical Services Outsourcing Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Services (Consulting, Auditing & Assessment, Regulatory Affairs, Product Maintenance, Product Design & Development, Product Testing & Validation, Training & Education, and Others); End Use (Pharma and Biotech); Region/Country
Global Biotechnology & Pharmaceutical Services Outsourcing Market is expected to grow at a significant rate of around 6% during the forecast period. Biotechnology & Pharmaceutical Services Outsourcing is defined as the process of hiring or transferring internal business processes or portions of work to a third-party organization rather than staffing or completing it inside within the organization. Outsourcing has had a particularly significant impact on the pharmaceutical industry, where pharmaceutical and biotechnology companies outsource at almost every stage of the value chain.
Parexel International Corporation, IQVIA Inc; Lachman Consultant Services, Inc.; Concept Heidelberg GmbH; Labcorp Drug Development; Charles River Laboratories; ICON plc; GMP Pharmaceuticals Pty Ltd.; Quantic Group, Ltd.; and NSF. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst services, consulting category to dominate the market during the forecast period”
Based on services, the market is segmented into consulting, auditing & assessment, regulatory affairs, product maintenance, product design & development, product testing & validation, training & education, and others. Consulting category to dominate the market, which is mainly due to the increasing M&A activities and constantly changing regulatory protocols.
“Amongst End Use, the pharma segment to hold a significant share in the market in 2020”
On the basis of end use, the market is categorized into pharma and biotech. Among these, pharma segment is dominating the market in 2020. The growth of this segment is anticipated to be driven by an increase in R&D spending by pharmaceutical firms for the development of possible novel products and by CROs for the development of core capabilities. For instance, as per the data of federal government statistics, in 2019, pharmaceutical companies spend an average of roughly 25% of their revenue on R&D.
“Asia Pacific is expected to grow with the highest CAGR during the forecast period”
In 2020, Asia Pacific hold a significant share of the market and it is expected to grow with the highest CAGR during the forecast period. This is mainly due to improved regulatory frameworks, the high scope for cost savings, and the presence of cheap skilled personnel. Furthermore, growing R&D expenditure in Asia Pacific is also expected to drive market growth in the region. For Instance, as per the data of world bank, the R&D expenditure of Japan is about 3.26% of the GDP during the year in year 2020. Additionally, the R&D expenditure of China is about 2.% of the GDP during the year in year 2020, as per the data of the world bank. Further, presence of leading CROs and CDMO’s such as Labcorp Drug Development, IQVIA, and Catalent.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Biotechnology & Pharmaceutical Services Outsourcing Market|
|2.2.||Research Methodology of the Biotechnology & Pharmaceutical Services Outsourcing Market|
|5||IMPACT OF COVID-19 ON THE BIOTECHNOLOGY & PHARMACEUTICAL SERVICES OUTSOURCING MARKET|
|6||BIOTECHNOLOGY & PHARMACEUTICAL SERVICES OUTSOURCING MARKET REVENUE (USD BN), 2020-2028F|
|7.2.||Auditing & Assessment|
|7.5.||Product Design & Development|
|7.6.||Product Testing & Validation|
|7.7.||Training & Education|
|9.1.3.||Rest of North America|
|9.2.6.||Rest of Europe|
|9.3.4.||Rest of Asia-Pacific|
|9.4.||Rest of World|
|11||BIOTECHNOLOGY & PHARMACEUTICAL SERVICES OUTSOURCING MARKET OPPORTUNITIES|
|12||BIOTECHNOLOGY & PHARMACEUTICAL SERVICES OUTSOURCING MARKET TRENDS|
|13.1.||Demand Side Analysis|
|13.2.||Supply Side Analysis|
|14||VALUE CHAIN ANALYSIS|
|16.1.1.||Porters Fiver Forces Analysis|
|17.1.||Parexel International Corporation|
|17.3.||Lachman Consultant Services, Inc.|
|17.4.||Concept Heidelberg GmbH|
|17.5.||Labcorp Drug Development|
|17.6.||Charles River Laboratories|
|17.8.||GMP Pharmaceuticals Pty Ltd.|
|17.9.||Quantic Group, Ltd.|
Research Methodology for the Biotechnology & Pharmaceutical Services Outsourcing Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Biotechnology & Pharmaceutical Services Outsourcing market were the three major steps undertaken to create and analyze the adoption of Biotechnology & Pharmaceutical Services Outsourcings in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Biotechnology & Pharmaceutical Services Outsourcing market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Biotechnology & Pharmaceutical Services Outsourcing market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Biotechnology & Pharmaceutical Services Outsourcing market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as services and end use. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Biotechnology & Pharmaceutical Services Outsourcing market. Further, we conducted factor analysis using dependent and independent variables such as services and end use of Biotechnology & Pharmaceutical Services Outsourcings. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Biotechnology & Pharmaceutical Services Outsourcing market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Biotechnology & Pharmaceutical Services Outsourcing market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Biotechnology & Pharmaceutical Services Outsourcing market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Biotechnology & Pharmaceutical Services Outsourcing market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Biotechnology & Pharmaceutical Services Outsourcing market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of services and end use in the global Biotechnology & Pharmaceutical Services Outsourcing market.
The main objective of the Global Biotechnology & Pharmaceutical Services Outsourcing Market Study
The current & future market trends of the global Biotechnology & Pharmaceutical Services Outsourcing market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Biotechnology & Pharmaceutical Services Outsourcing market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of services and end use.
- Define and analysis of the regulatory framework for the Biotechnology & Pharmaceutical Services Outsourcing
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Biotechnology & Pharmaceutical Services Outsourcing market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Biotechnology & Pharmaceutical Services Outsourcing market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry