Biotechnology & Pharmaceutical Services Outsourcing

Global Biotechnology And Pharmaceutical Services Outsourcing Market Is Anticipated To Hold A Market Value Of US$ 112.31 Billion By 2032

Healthcare

Biotechnology & Pharmaceutical Services Outsourcing Services Market Outlook (2022 to 2032)

The global biotechnology and pharmaceutical services outsourcing market is anticipated to hold a market value of US$ 70 Bn in 2022 and US$ 112.31 Bn by 2032. The projected growth rate is nearly 5% during the forecast period from 2022 to 2032.

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Key Market Segments Covered in the Global Biotechnology and Pharmaceutical Services Outsourcing Market

  • By End Use

    • Pharmaceutical Services Outsourcing
    • Biotechnology Services Outsourcing
  • By Service

    • Biotechnology & Pharmaceutical Services Outsourcing for Product Testing & Validation
    • Biotechnology & Pharmaceutical Services Outsourcing for Training & Education
    • Biotechnology & Pharmaceutical Services Outsourcing for Product Design & Development
    • Biotechnology & Pharmaceutical Services Outsourcing for Product Maintenance
    • Biotechnology & Pharmaceutical Services Outsourcing for Auditing and Assessment
    • Biotechnology & Pharmaceutical Services Outsourcing for Regulatory Affairs
      • Regulatory writing & publishing
      • Legal representation
      • Clinical trial applications & product registration
      • Others
    • Biotechnology & Pharmaceutical Services Outsourcing for Consulting
      • Remediation
      • Quality management systems consulting
      • Regulatory compliance
      • Others
    • Biotechnology & Pharmaceutical Services Outsourcing for Others

Competitive Landscape

The players of the market are focusing to increase their global influence and adopt strategies such as; acquisition, collaboration, and partnerships. Some of the recent key developments among key players are:

  • In April 2021, Paraxel International Corporation announced a strategic partnership with Veeva. The partnership aims to increase clinical trials by leveraging process innovation and technology.
  • In August 2020, Pfizer signed a three-year agreement with PPD. The agreement aims to offer drug development services.
  • In October 2020, MediPharm Labs Corp. announced that it had signed a new white-label supply agreement with Sunco Green Pharmaceutical Pty Ltd. It is MediPharm Labs’ 12th supply agreement. As per the two-year agreement, MediPharm Labs Australia will supply specially formulated CBD and THC Cannabis oil products. It will be sold under the Sunco Green Label.

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