The biologics outsourcing services market was valued at US$8.607 billion in 2017 and is projected to expand at a CAGR of 11.84% over the forecast period to reach US$16.838 billion by 2023. The global demand for outsourced biologics is highly driven by need to take initiative for developmental activities by biotechnology industry as biologics have vast scope of R & D and innovation in the field. Biological products often manufactures in-house by bio-technology firms are heat sensitive and highly susceptible to contamination, and hence follow different steps than most of the conventional drugs. And, therefore outsourcing biologics outsourcing services is more competent strategy for these firms. The global biologics outsourcing services market is supported by various factors such as growing demand for outsourcing variety, demand of antibody conjugate, increasing biologics approvals, and others. However, various inhibiting factors such as limited knowledge in the biologics field, complexities in handling biologics, and lack of skilled professionals is likely to impend the market growth during the forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the biologics outsourcing services value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the biologics outsourcing services market.
Major industry players profiled as part of the report are Lonza Group Ltd., Charles River Laboratories, SGS SA, and Thermo Fisher Scientific Inc. among others.
The biologics outsourcing services market has been analyzed through following segments:
Vaccine & Therapeutics Development
Blood and Blood-Related Products Testing
Cellular and Gene Therapy
Tissue and Tissue-Related Products Testing
Stem Cell Research
Middle East and Africa
United Arab Emirates