Lowest Price Guaranteed From USD 4,799
The biologics contract research organization market is estimated to be worth $21.5 billion in 2021 and is expected to grow at CAGR of 13% during the forecast period. Given the various advantages of biologics, such as high specificity for their intended molecular targets, ability to treat a myriad of disease indications, and patient friendly toxicity profiles, the demand for such interventions is high. In 2020 alone, more than 20 biopharmaceutical products (including monoclonal antibodies, recombinant proteins and gene therapies) were approved in the US. Amidst the COVID-19 pandemic, the biopharmaceutical industry has witnessed considerable growth, with several stakeholders actively engaged in the development of multiple vaccine candidates, some of which have received emergency use authorizations against the novel coronavirus strain. However, it is a well-known fact that the development and clinical evaluation of biologics is both challenging and cost intensive, and requires advanced product development expertise and bioprocessing technologies. Therefore, many innovators in the biopharmaceutical industry are opting to outsource their drug discovery and clinical research operations to capable contract service providers.
Contract research organizations (CROs) have the necessary capabilities and experience to expertly support biopharmaceutical R&D projects. Being well-aware of the nuances of drug design and development, such organizations have long been assisting biologics developers to navigate through process-related complexities and stringent regulatory environments, across different geographies. Several big pharma players, with multifarious product development programs, are increasingly engaging with third party research entities to reduce the strain on their internal R&D infrastructure. In fact, it is estimated that big pharma players presently outsource close to 45% of their internal R&D operations to CROs. In the past few years, several niche CROs, claiming to offer services for the development of specialty biologics, have been established, and are gradually being acquired by larger entities that are trying to consolidate their presence amidst the growing competition in this space. The contract research services segment is considered to be an indispensable part of the overall biopharmaceutical market. As more developers opt to outsource various aspects of their business processes, we anticipate the biopharma cro market to witness a steady market growth during the forecast period.
Examples of key companies engaged in biologics contract research organization market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Biocon, Covance, ICON, Medpace, Pharmaron, PPD, PRA Health Sciences, Syneos Health, Vimta Labs and WuXi AppTec. This market report includes an easily searchable excel database of all the contract research organization offering services for biologics development, worldwide.
The “Biopharmaceutical CROs Market, 2021-2030: Distribution by Type of Biologic (Vaccines, Cell Therapy, Gene Therapy, Antibodies, Recombinant Proteins / Peptides, and Others), Scale of Operation (Clinical and Preclinical), Therapeutic Area (Oncological Disorders, Cardiovascular Disorders, Inflammatory Disorders, Neurological Disorders, and Other Therapeutic Areas), and Geography (North America, Europe, Asia-Pacific, Latin America, MENA and Rest of the World)” market report features an extensive study of the current market landscape, market size, market trends, market share, market forecast, market outlook and future opportunities of the biologics contract research organization market. The market research report also includes an in-depth analysis, highlighting the capabilities of various industry stakeholders engaged in biologics contract research organization market. Amongst other elements, the market research report features:
The key objective of biologics contract research organization market report is to provide a detailed market analysis in order to estimate the existing market size, market value, statistics and future opportunity for Biopharma contract research organization services market during the forecast period. We have provided an informed estimate on the likely evolution of the market in the short to mid-term and long term, for the forecast period 2021-2030. The market report also features the likely distribution of the current and forecasted opportunity across [A] type of biologic (vaccines, cell therapies, gene therapies antibodies, recombinant proteins / peptides, and others), [B] scale of operation (clinical and preclinical), [C] target therapeutic area (oncological disorders, cardiovascular disorders, inflammatory disorders, neurological disorders, and other therapeutic areas) and [D] key geographical region (North America, Europe, Asia-Pacific, Latin America, MENA (Middle East and North Africa) and rest of the world). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.
All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market research report are in USD, unless otherwise specified.