Biotechnology & Pharmaceutical Services Outsourcing Market Worth $108.0 Billion By 2030

The global biotechnology and pharmaceutical services outsourcing market size is projected to reach USD 108.0 billion by 2030, registering a CAGR of 5.5% over the forecasted period from 2022 to 2030. Factors such as low-cost services offered by CROs and CMOs, increasing drug development costs, and lack of internal capacities are expected to accelerate market growth significantly over the forthcoming years.

The COVID-19 pandemic impacted the global market negatively, especially the third-party service providers, and created obstacles in clinical trials like delaying, suspensions, and terminations. In order to achieve a significant share of the revenue generated from the healthcare outsourcing market, manufacturing companies are focusing on investing in personnel, infrastructure, and technology. In April 2021, Parexel International Corporation strategically partnered with Veeva to fasten clinical trials to help improve study efficiency and accelerate deliveries of new therapies for patients by leveraging technology and process innovation.

In recent times, the biologics industry has witnessed substantial growth in novel product varieties like rDNA, nanobodies, synthetic vaccines, soluble receptors, fusion proteins, immunotherapeutics, and immunoconjugates. The major factor affecting the competitive nature of the market is the adoption of key strategies such as collaboration, merger and acquisition, service portfolio expansion, regional expansion, and competitive pricing in order to sustain the competitive environment and acquire higher market share.

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Biotechnology and Pharmaceutical Services Outsourcing Market Report Highlights

• The pharma segment is projected to register a CAGR of 5.7% during the forecast period owing to the outsourcing of internal activities by the pharmaceutical companies at a wider scale as a result of the increase in pricing pressure, and growth of generics in the industry

• The other segment is projected to register the highest CAGR of 6.4% during the forecast period to a growing focus on generic and biosimilar in the developing regions

• The 2021 market was extensively dominated by North America which registered the largest revenue share of 53.8% owing to the presence of a wide number of major biotechnology and pharmaceutical companies and better quality of services offered in the region by the CROs and the CMOs 

Biotechnology and Pharmaceutical Services Outsourcing Market Segments

Biotechnology & Pharmaceutical Services Outsourcing Service Outlook (Revenue, USD Million, 2018 - 2030)
    • Consulting
        • Regulatory compliance
        • Remediation
        • Quality management systems consulting
        • Others
    • Auditing and assessment
    • Regulatory affairs
        • Clinical trial applications & product registration
        • Regulatory writing & publishing
        • Legal representation
        • Others
    • Product maintenance
    • Product design & development
    • Product testing & validation
    • Training & education
    • Others

Biotechnology & Pharmaceutical Services Outsourcing End-use Outlook (Revenue, USD Million, 2018 - 2030)
    • Pharma
    • Biotech

Biotechnology & Pharmaceutical Services Outsourcing Regional Outlook (Revenue, USD Million, 2018 - 2030)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
    • Asia Pacific
        • India
        • China
        • Japan
        • Australia
        • South Korea
    • Latin America
        • Brazil
        • Mexico
        • Argentina
    • Middle East & Africa
        • South Africa
        • Saudi Arabia
        • UAE

List of Key Players in the Biotechnology and Pharmaceutical Services 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
    • PRA Health Sciences
    • ICON plc