The bio-services industry is a quintessential segment of the global biotech industry. Comprising contract research organizations, which are third-party organizations that carry out drug discovery, clinical trials, and contract production, the industry is projected to report the fastest growth in the overall bio-tech industry across the globe.
The historic performance and future projections of the bio-services industry creates a firm basis for crucial strategies. The research report further provides comprehensive and accurate information on the global bio-services industry. Including detailed quantitative and qualitative analysis by market experts, the report assists market players, consultants, and stakeholders in making rewarding decisions.
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The market study for the global bio-services industry is carried out using analytical tools such as value chain analysis, Porter’s five force analysis, and SWOT analysis. The research report also provides strategic recommendations that the leaders in the industry can incorporate for successful business in the global bio-services market.
Overview of the global Bio-services market
The outsourcing of drug discovery, clinical trials, and contract manufacturing has emerged as a major trend in developed economies, which leads to the growth of the global bio-services industry in emerging economies such as India, Malaysia, Thailand, and China. The industry has an opportunity-rich market in emerging economies, especially due to cheap labor, easy availability raw materials, and regulatory support. The global bio-services industry is expected to witness an impressive surge due to its lower operating cost than other bio-tech applications.
The investments in research and development by several organizations to decrease the time taken in processes such as clinical trials are the major driving force behind the growth of the global bio-services industry. The government initiatives in emerging economies and the rise in awareness about the services are expected to propel further development in this market.
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The major hindrance to the growth of the global bio-services industry is the huge capital investment needed for operations such as employment of skilled manpower for the clinical trials of drugs, which can take up to seven years to complete. However, the growth of the global pharmaceutical industry and rise in the number of health-conscious people is expected to stimulate the bio-services market across the globe.
The bio-services market in Asia Pacific is expected to witness the highest growth owing to the contribution from emerging economies. The market in North America will stand second due to the heavy government investment in research and development and the developing pharmaceutical industry in the region.
Companies mentioned in the research report
Pfizer, Invitrogen BioServices India Pvt. Ltd., Lambda Therapeutic Labs, Novo Nordisk, Siro ClinPharm, Benten BioServices, Lotus labs, US Bioservices, Polyclone Bioservices, Paragon Bioservices, Inc., Fisher BioServices, Novartis, Biocon, Benten BioServices, ReSearch Pharmaceutical Services (RPS), Specialty Ranbaxy, BeijingWits Medical Consulting, Quintiles, Blue Sky BioServices, ClinTec International, Asklep, Advion BioServices, Clinigene International, Midwest Bio Services, LLC., and Kennet Bioservices Ltd. are the major companies operating in the global Bio-services industry.