/ Press Release Details /

Pharmaceutical Outsourcing Services Market Size Worth $89.6 Billion By 2025 | CAGR: 7.8%

The global pharmaceutical outsourcing services market is expected to grow at growth rate of 7.8% to reach USD 89.6 billion by 2025.

Driving factors such as increasing approval of new therapeutics coupled with strategic mergers & acquisitions of key players to expand their presence in pharma & biotech industries are expected to remain on the top spot for the growth of pharmaceutical outsourcing services market globally. For example, in December 2017, as per the article published by the Regulatory Affairs Professional Society, the number of new molecular entity published by the U.S. FDA (around 46) in 2017, was the highest compared to the new drugs approved till 2016. In addition, the government plays a pivotal role in stimulating the development of the pharmaceutical outsourcing industry in developing as well as developed regions. Furthermore, increasing R&D activity geared towards developing novel products support the market growth. However, the market has been stifled by key impediments such as growing issues on data security and increasing concerns over third-party performance.

Key Takeaways

Consulting service captured the highest share, 18.5% revenue share in 2017. This segment is projected to show robust growth during the forecast period
Regulatory affairs outsourcing is fasted growing segments of the industry, enjoying an average CAGR of over 10%
Regionally, developed regions such as North America and Europe accounted for the highest share, more than 75% share of the total industry collectively
Companies namely Parexel International, Quantic Group, Concept Heidelberg, GMP Pharmaceuticals, and Lachman Associates are profiled based on attributes such as company details, financial performances, and key developments.
The companies are actively participating in global conferences to promote their services amongst In September 2016, Lachman Consultant Services, Inc. presented their services and industry expertise at the ISPE Annual Meeting & Expo held in Atlanta. The company emphasized on their white papers over Data integrity and Cloud computing during the presentation.

KEY BENEFITS OF THE REPORT:

In-depth analysis of the key market dynamics
Granular analysis of the current market scenario and expected factors to affect the market
Detailed analysis of the geographic region, regional and county wise analysis
Highlight on the strategies that are being adopted by the key players in this market to stay competitive
Extensive analysis of the key players dominating the market

The scope of this report covers the market by its major segments, which include as follows:

Market Segmentation

MARKET, BY SERVICE