Global Biotechnology/Pharmaceutical Services Outsourcing Market Size, Status and Forecast 2022

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.
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.

Market Analysis and Insights: Global Biotechnology/Pharmaceutical Services Outsourcing Market
The global Biotechnology/Pharmaceutical Services Outsourcing market size is projected to reach US$ 15900 million by 2027, from US$ 11480 million in 2020, at a CAGR of 4.7% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Biotechnology/Pharmaceutical Services Outsourcing market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Biotechnology/Pharmaceutical Services Outsourcing market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Biotechnology/Pharmaceutical Services Outsourcing market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Biotechnology/Pharmaceutical Services Outsourcing market.

Global Biotechnology/Pharmaceutical Services Outsourcing Scope and Market Size
Biotechnology/Pharmaceutical Services Outsourcing market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Biotechnology/Pharmaceutical Services Outsourcing market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

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

Segment by Application
Regenerative Medicine
Biobanking
Drug Discovery

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
Quantic Group
QuintilesIMS
Parexel International Corporation
Lachman Associates
GMP Pharmaceuticals
Management Forum
Quality Context
Inspired Pharma
Concept Heidelberg GmbH
RSSL