Advanced Therapeutics Pharmaceutical Outsourcing Industry Valued at $10.27 Billion by 2029 With CAGR of 5.1% | Size and Share Insights
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What Is the Forecast for the Advanced Therapeutics Pharmaceutical Outsourcing Market from 2024 to 2025?
There has been consistent growth in the market size of advanced therapeutics pharmaceutical outsourcing over the recent years. It’s projected to expand from $8.07 billion in 2024 to $8.43 billion in 2025, with a compound annual growth rate (CAGR) of 4.5%. Factors contributing to the growth during the historic period includes increased biopharmaceutical infrastructure, regulatory compliance, a surge in demand for innovative drugs for chronic and fatal diseases, enhanced efficiency, and increased demand for personalized medicine.
What Is the Projected Market Size of the Advanced Therapeutics Pharmaceutical Outsourcing Market?
The market size of advanced therapeutics pharmaceutical outsourcing is projected to experience substantial growth in the coming years, with expectations to reach $10.27 billion in 2029, reflecting a compound annual growth rate (CAGR) of 5.1%. The anticipated growth within the forecast period can be traced back to the growing use of cell and gene therapies, an increased emphasis on mRNA therapies, heightened demand for innovative treatments, enhanced effectiveness, and the cost-saving aspects provided by outsourcing collaborations. The forecast period will usher in key trends such as technological progress, expertise growth in advanced therapeutics, an escalating number of innovative therapies in the pipeline, the incorporation of state-of-the-art technology, and rapid developments in gene therapy, cell therapy, and mRNA technologies.
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Who are the Major Competitors in the Advanced Therapeutics Pharmaceutical Outsourcing Market Outlook?
Major companies operating in the advanced therapeutics pharmaceutical outsourcing market report are Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, IQVIA, ICON plc, SGS SA, Lonza Group, Parexel International Corporation, WuXi AppTec, Syneos Health, Catalent Inc., Charles River Laboratories International, Recipharm AB, Croda International Plc, Samsung Biologics, Vetter Pharma International GmbH, Medpace Holdings Inc., Fujifilm Diosynth Biotechnologies, Marken, AGC Biologics, Evotec SE, ProPharma Group, Piramal Pharma Solutions, Corden Pharma International LLC, Novotech Pty Ltd., Cryoport Systems Inc., Cytovance Biologics
What Is Fueling Growth in the Advanced Therapeutics Pharmaceutical Outsourcing Market?
The growing popularity of cell and gene therapies is projected to spur the expansion of the advanced therapeutics pharmaceutical outsourcing market. These inventive therapies utilize living cells or genetic elements to manage or eliminate diseases. The outsourcing of pharmaceutical services in advanced therapeutics provides companies with access to seasoned professionals and well-established service providers, obviating the need for companies to invest in team-building. For example, a report published by Nature, a scientific journal based in the UK, suggested in November 2023 that the volume of new patients benefitting from gene therapies would rise from 16,244 in 2020 to 94,696 in 2025. Hence, the escalating implementation of cell and gene therapies is fuelling the advancement of the advanced therapeutics pharmaceutical outsourcing market.
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Which Advanced Therapeutics Pharmaceutical Outsourcing Market Segments Are Growing the Fastest?
The advanced therapeutics pharmaceutical outsourcing market covered in this report is segmented –
1) By Service Type: Contract Research Organizations (CROs), Contract Development And Manufacturing Organizations (CDMOs)
2) By Indication: Oncology, Neurology, Cardiology, Infectious Diseases, Other Indications
3) By Therapy: Cell Therapy, Gene Therapy, RNA-based Therapies
4) By Application: Preclinical Services, Clinical Services, Commercial Manufacturing And Packaging
Subsegments:
1) By Contract Research Organizations (CROs): Preclinical Research Services, Clinical Trial Management Services, Regulatory Affairs Services, Data Management And Biostatistics
2) By Contract Development And Manufacturing Organizations (CDMOs): Drug Development Services, Formulation Development, Analytical Testing Services, Commercial Manufacturing Services
Which Industry Trends Are Shaping the Future of the Advanced Therapeutics Pharmaceutical Outsourcing Market?
Key players in the advanced therapeutics pharmaceutical outsourcing market are concentrating on strategic collaborations to deliver dependable services to their clients. A strategic alliance typically involves two or more parties, usually businesses, joining forces to accomplish shared objectives that could not be achieved individually. For example, in January 2023, Lonza, a Swiss firm that manufactures for the pharmaceutical, biotechnology, and nutrition industries, formed a partnership with Context Therapeutics Inc., an American biopharmaceutical company that develops treatments for solid tumors. As part of the agreement, Lonza is responsible for evaluating manufacturability, building genes and cell lines, and developing processes for both the drug substance and final drug product.
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Which Countries Are Leading the Advanced Therapeutics Pharmaceutical Outsourcing Market?
North America was the largest region in the advanced therapeutics pharmaceutical outsourcing market in 2024. The regions covered in the advanced therapeutics pharmaceutical outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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This Report Delivers Insight On:
1. How big is the advanced therapeutics pharmaceutical outsourcing market, and how is it changing globally?
2. Who are the major companies in the advanced therapeutics pharmaceutical outsourcing market, and how are they performing?
3. What are the key opportunities and risks in the advanced therapeutics pharmaceutical outsourcing market right now?
4. Which products or customer segments are growing the most in the advanced therapeutics pharmaceutical outsourcing market?
5. What factors are helping or slowing down the growth of the advanced therapeutics pharmaceutical outsourcing market?
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