Press release
Biologics Outsourcing Market Size, Share, Growth, Forecast and Outlook (2024-2031)
DataM Intelligence
The global biologics outsourcing market witnessed significant growth in 2022, reaching a value of US$ YY million, with expectations to surge further and reach US$ YY million by the year 2031, showcasing a robust CAGR of YY% during the forecast period of 2024-2031.
Biologics outsourcing has emerged as a strategic practice within the pharmaceutical and biotechnology sectors, involving the engagement of specialized third-party organizations, commonly known as Contract Development and Manufacturing Organizations (CDMOs) or Contract Research Organizations (CROs), to handle various aspects of biologic drug development, manufacturing, and testing.
Biologics, being large and complex therapies derived from living organisms, demand substantial expertise and infrastructure, thereby making outsourcing a viable and cost-effective solution. These outsourcing partnerships encompass a wide array of services ranging from research and development to commercial-scale manufacturing, facilitating accelerated drug development, cost reduction, and enabling companies to focus on core competencies.
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Market Dynamics: Drivers and Restraints
The surge in demand for biologic drugs propels the growth of the biologics outsourcing market. Biologics, known for their innovative and highly effective treatment options across various medical conditions, including cancer and autoimmune diseases, have gained significant traction among patients and healthcare providers alike.
Despite the promising growth trajectory, the market faces challenges such as the intricate nature of biologic drug manufacturing, stringent regulatory requirements, and concerns about intellectual property. However, rising therapeutic value, increasing partnerships, and expansions among market players are anticipated to drive market growth in the coming years.
Segment Analysis:
The global biologics outsourcing market is segmented based on product, service, source, application, end-user, and region. Analytical testing, a critical service segment, accounted for approximately 42.4% of the market share, underscoring its importance in ensuring quality, purity, safety, and efficacy of biopharmaceutical products.
Geographical Analysis:
North America dominated the market share in 2022 and is poised to maintain its lead, driven by increasing product launches and FDA biologics license applications. Notable initiatives include the acceptance of Biologics License Applications (BLAs) by the FDA and the launch of biosimilars by prominent players in the region.
COVID-19 Impact Analysis:
The COVID-19 pandemic has significantly influenced the biologics outsourcing market, witnessing growth in outsourced formulation development services, particularly in specialized vaccines and treatments. Despite challenges in global supply chains and clinical trial disruptions, the market remains resilient, with opportunities emerging amid the crisis.
Competitive Landscape:
Key players in the global biologics outsourcing market include AbbVie Inc., Thermo Fisher Scientific Inc., Boehringer Ingelheim GmbH, and others, highlighting a competitive landscape characterized by innovation and strategic collaborations.
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