Pharmaceutical Outsourcing Market Size to Surpass US$ 227.8 billion by 2030 - Growth Plus Reports

Newark, New Castle, USA, March 09, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global pharmaceutical outsourcing market is expected to clock US$ 227.8 billion by 2030 and to grow at a CAGR of 6.9% during the forecast period. This exclusive information is published by Growth Plus Reports in its report titled “Pharmaceutical Outsourcing Market – Global Outlook & Forecast 2022-2030”

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Pharmaceutical Outsourcing Market Scope:

Market Drivers

The demand for outsourcing services is expected to rise as pharmaceutical companies are seek to reduce costs and improve efficiency fueling the global pharmaceutical outsourcing market's growth. Pharmaceutical companies are increasingly turning to outsourcing providers with expertise in specific areas such as formulation development, bioanalytical services, and clinical trial data analysis as drug development becomes more complex and specialized.

Furthermore, there is an increasing demand for novel therapeutics to address unmet medical needs. Outsourcing can assist companies in accelerating the development and manufacturing of these new therapies, allowing them to reach the market faster, which is driving the growth of the pharmaceutical outsourcing market.

Digital technologies such as data analytics, artificial intelligence, and machine learning are increasingly being used in the pharmaceutical industry. This is likely to increase demand for outsourcing providers who provide digital services and expertise. Rather than engaging in one-time transactions, many pharmaceutical companies are now seeking long-term strategic partnerships with outsourcing providers. This enables them to gain ongoing access to specialized expertise and resources, as well as collaborate more closely with their partners to achieve their business objectives, thereby fueling the pharmaceutical outsourcing market growth.

Outsourcing can provide access to new markets and expand a company's global footprint. This can be particularly important for companies looking to enter new regions or expand their existing presence in emerging markets.

The global pharmaceutical outsourcing market is analyzed from three perspectives: Services, End-user, and Region.

Excerpts from ‘By Services Segmentation’

Based on the services, the global pharmaceutical outsourcing market is segmented into:

• Pharmaceutical Manufacturing Services
• Drug Development Services
• Biologics Manufacturing Services

With the highest revenue share in 2021, the biologics manufacturing services segment dominated the pharmaceutical outsourcing market. Biologics manufacturing services are further subdivided into biologics API manufacturing services and biologics FDF manufacturing services. Biologics are a significant and expanding segment of the pharmaceutical industry, with applications in oncology, autoimmune diseases, and infectious diseases. As the demand for biologics grows, so does the demand for specialized expertise and resources in biologics manufacturing. Manufacturing biologics is a complex process that necessitates specialized knowledge and resources, such as advanced technologies, specialized equipment, and highly skilled personnel.

Outsourcing can provide access to resources and expertise that may not be available in-house, increasing the demand for biologics manufacturing outsourcing. Outsourcing biologics manufacturing can also be a cost-effective way for pharmaceutical companies to gain access to specialized expertise and resources while lowering costs and improving efficiency. Biologics manufacturing is highly regulated, with strict quality control, safety, and efficacy requirements. Pharmaceutical companies can ensure regulatory compliance by outsourcing biologics manufacturing to specialized biologics manufacturing service providers.

Excerpts from ‘By End-user Segmentation’

Based on the end-user, the global pharmaceutical outsourcing market is segmented into:

• Big Pharmaceutical Companies
• Small & Medium-Sized Pharmaceutical Companies
• Generic Pharmaceutical Companies

In 2021, big pharmaceutical companies segment had the highest revenue share of the pharmaceutical outsourcing market. Outsourcing can save big pharmaceutical companies money because it avoids the high capital costs of building and maintaining in-house facilities and staff. Big pharmaceutical companies have significant financial resources, allowing them to invest in outsourcing activities on a larger scale than smaller companies, fueling segment growth. Pharmaceutical companies can focus on their core competencies, such as drug discovery and development, by outsourcing other activities to external partners. As a result of the increased efficiency and productivity, large pharmaceutical companies are turning to outsourcing.

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Excerpts from ‘By Region Segmentation’

Geographically, the global pharmaceutical outsourcing market has been segmented into:

• North America
• Europe
• Asia Pacific
• Rest of the World

In 2021, North America dominated the market for pharmaceutical outsourcing worldwide. Several of the pharmaceutical firms in the region depend on outsourcing services to compete on the global market. The growth of the pharmaceutical outsourcing business is being aided by North America's established infrastructure for R&D, manufacturing, and clinical trials. The workforce in North America is highly educated and skilled, enabling it to offer pharmaceutical businesses high-quality services. Furthermore, the region provides a supportive regulatory environment that fosters growth and development in the pharma industry.

Excerpts from ‘Competitive Landscape’

Some prominent players operating in the global Pharmaceutical outsourcing market:

• Parexel International Corporation
• The Quantic Group
• IQVIA
• Lachman Consultant Services, Inc.
• GMP Pharmaceuticals Pty Ltd.
• Concept Heidelberg GmbH
• Covance Inc.
• Charles River Laboratories International, Inc.
• PRA Health Sciences
• ICON Plc

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2020
      2. Base Year – 2021
      3. Forecast Years – 2022 to 2030
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
   4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2021) 
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL PHARMACEUTICAL OUTSOURCING MARKET - ANALYSIS & FORECAST, BY Services
   1. Pharmaceutical Manufacturing Services
      1. Pharmaceutical API Manufacturing Services
      2. Pharmaceutical FDF Manufacturing Services
   2. Drug Development Services
   3. Biologics Manufacturing Services
      1. Biologics API manufacturing services
      2. Biologics FDF manufacturing services

TOC Continued..

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