Biotechnology/Pharmaceutical Services Outsourcing Market
The ‘Biotechnology/Pharmaceutical Services Outsourcing Market Forecast To 2025: How It Is Going To Impact On Asia Industry To Grow In Near Future‘ is a professional and in-depth study on the current state of the Biotechnology/Pharmaceutical Services Outsourcing industry with a focus on the Asia market.
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When it comes to pharmaceutical research and development however, success is never guaranteed. The average cost of drug development can reach into the billions of dollars, and it takes an average of 10 years to bring a new drug to market. In addition, many drugs fail to be clinical effective and subsequently never see the light of day.
Due to these risks, pharmaceutical companies are not always eager to utilize their onsite resources for drug R&D. Certain cost-saving measures implemented in the pharmaceutical space have included outsourcing these activities, helping organizations reduce both their operational and manufacturing costs, thereby lowering financial risk.
North America held more than 50.0% share for the pharmaceutical/biotechnology services outsourcing market in 2015. The presence of several multinational and local consulting firms in this region contributed towards the growth in this region.
Asia Pacific is anticipated to witness lucrative growth over the forecast period. Low cost of manufacturing and availability of qualified labor is likely to foster contract manufacturing in this region. Moreover, economic policy reforms in countries such as India and China are anticipated to create open and balanced economy, which presents ample opportunity for market players to invest in this region.
Major Key Players in Biotechnology/Pharmaceutical Services Outsourcing Market are : Quantic Group, QuintilesIMS, Parexel International Corporation, Lachman Associates, GMP Pharmaceuticals, Management Forum, Quality Context, Inspired Pharma, Concept Heidelberg GmbH, RSSL .
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Based on Geography, the Asia Biotechnology/Pharmaceutical Services Outsourcing market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe consists of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into Asia, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Most widely types downstream fields of Biotechnology/Pharmaceutical Services Outsourcing Market covered in this report are: Consulting, Auditing & Assessment, Regulatory Affairs, Product Maintenance, Product Design & Development, Product Testing & Validation, Training & Education .
Most widely used downstream fields of Biotechnology/Pharmaceutical Services Outsourcing Market covered in this report are: Regenerative Medicine, Biobanking, Drug Discovery and Others.
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