The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Biologics Outsourcing Global Market Report 2024, the biologics outsourcing market is expected to show significant growth in the forecast period.

Understanding the Market Expansion

• The biologics outsourcing market has experienced significant growth, expanding from $17.74 billion in 2023 to $20.33 billion in 2024.
• This growth is fueled by various factors including increasing R&D costs, regulatory pressure, demand for specialized expertise, and globalization.

Projections for Future Growth

Insights into Forecasted Expansion

• Projections indicate further growth, with the market expected to reach $33.29 billion in 2028, showcasing a compound annual growth rate (CAGR) of 13.1%.
• Emerging markets, personalized medicine, strategic alliances, and biological drug patent expirations are key contributors to this anticipated growth.

Factors Driving Market Growth

Understanding the Catalysts

• The surge in cancer cases is a significant driver for the biologics outsourcing market’s growth.
• Cancer, being a prevalent and complex disease, requires specialized expertise and resources for the development and manufacturing of biologic therapies.

Influence of Cancer Cases on Market Expansion

Impact of Rising Cancer Incidences

• The rising number of cancer cases globally, projected to reach 29.5 million new cases annually by 2040, is a major catalyst for market growth.
• Biologics outsourcing facilitates the development, manufacturing, and clinical supply of therapies vital for cancer diagnosis, treatment, and management.

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Key Players in the Market

Major Contributors

• Major companies such as AbbVie Inc., Thermo Fisher Scientific Inc., and Boehringer Ingelheim GmbH play pivotal roles in driving the biologics outsourcing market forward.
• These companies offer specialized services and infrastructure essential for biologic drug development and manufacturing.

Transformative Trends and Partnerships

Driving Market Evolution

• Developments in biologics and strategic partnerships are reshaping the biologics outsourcing landscape.
• Companies are adopting new technologies and forming alliances to enhance their capabilities and offerings in the market.

Notable Industry Developments

Significant Strategic Moves

• Partnerships like DRIVE-Biologics consortium aim to provide integrated solutions for biologic drug discovery and development.
• Acquisitions, such as Asahi Kasei Medical acquiring Bionova Scientific LLC, expand companies’ bioprocess businesses, strengthening their position in the market.

Market Segmentation

Understanding the Diversity

• The biologics outsourcing market is segmented based on product type, source, application, and end-user.
• Segmentation enables targeted approaches in catering to diverse needs across pharmaceutical and biotechnology industries.

Regional Insights

Regional Dynamics

• North America dominated the biologics outsourcing market in 2023, highlighting the region’s significant contribution to market growth.
• Understanding regional variations is crucial for identifying market opportunities and strategic positioning.

Conclusion

Charting the Path Ahead

• The biologics outsourcing market continues to expand, driven by factors like technological advancements, strategic alliances, and increasing demand for specialized therapies.
• Understanding market trends and dynamics is essential for stakeholders to navigate the evolving landscape effectively.

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