plays an important role in the growth of biopharmaceuticals market. The growth of this market is promising with rapidly expanding biosimilars base. With rising complexity of biologic drugs, the biosimilars become more important which pressurizes the investors and drug companies in terms of cost and quality. Biopharmaceutical manufacturers more often prefer custom manufacturing and research solutions from the outsourcing companies to meet the milestones in research and commercial pipeline. The selection of contract organizations depends on several factors including cost, technical capabilities, reliability, quality and their adherence to timelines. Driven by the aforementioned factors, this market is set to reach $XX billion, growing at a CAGR of XX% in the coming five years.
This market encompasses various contract companies that provide clinical trials, drug discovery, drug development, manufacturing, packaging, software and non-clinical services. Few provide end-to end solutions from trials to commercialization and pharmocovigilance. Whereas, few entities are specialized in particular activity.
The biopharma outsourcing market
has witnessed double digit growth in the past three years and this pace is set to continue with expanding biopharma research and need for innovative drugs. Quality and on-time delivery has become important factors apart from cost. Emerging biotech companies prefer integrated solution providers and are maintaining strategic partnerships in long run.
North America held a major share of XX% in this market, followed by APAC. APAC is poised to maintain significant growth primarily driven by expanding biopharmaceuticals industry and industry inclination towards low-cost quality manufacturing services. Market players are enhancing their technical and production capabilities to serve the biopharma companies. Competitive landscape for industry and market players is profiled in the report in detail.
Sample Companies Profiled in this Report are:
- Sartorius AG
- Emcure Pharmaceuticals Ltd
- BioPharma Services Inc.
- Quintiles Inc.