According to the report, the global Biologics Outsourcing market is predicted to be valued at approximately USD 11,668 million in 2018 and is expected to reach a value of around USD 52,846 million by 2027, at a CAGR of around 18.2% between 2019 and 2027.
Biologics are medicines that are derived from natural sources. They are the drugs that vary from chemically synthesized ones including aspirin and antacids. Precisely, the products are extracted from antibodies, microorganisms, and cells. Biologics are outsourced as it can effectively treat rheumatoid arthritis, kidney failure, high cholesterol levels, Crohn’s disorder, and asthma.
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Rise in research activities pertaining to biologics will steer the market trends
A prominent increase in the research & development activities related to biologics is projected to spur the expansion of the biologics outsourcing industry during the forecast timeline. Apart from this, strong supply chain activities by the manufacturer are likely to attract the firms to offshore the biologics and this is likely to drive the business growth over the forecast timeline.
Furthermore, cost & time-saving benefits provided by biologics outsourcing activities will further propel the market expansion over the period from 2019 to 2027. Moreover, the biotech & pharma firms can save huge capital expenditure through biologics outsourcing and increase the invention and commercialization of the biologics over the forecast period, thereby prompting the market growth over the forecast timespan. Nevertheless, the high technical need for manufacturing biologics will impede business expansion.
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Antibody to dominate the product segment over the forecast period
The segmental growth during the forecast timeline is owing to large-scale research activities carried out across the antibody engineering domain that will aid the monoclonal antibody-based product to remain a key biopharmaceuticals class over the coming years. Apart from this, the massive application of the antibodies for treating a large number of chronic ailments like asthma will further steer the segmental surge over the forecast timeline.
Vaccine & therapeutics development segment to record the highest CAGR during 2019-2027
The vaccine & therapeutics development segment is set to register the highest growth rate of more than 19% during the forecast timespan. The growth of the segment during the timeline from 2019 to 2027 is credited to the rise in the growing concerns related to the prevention of chronic ailments in people.
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North America to account for the major revenue share of the overall market over the forecast timeframe
The regional market growth during the forecast timeline is attributed to the huge rate of biologic outsourcing and technological breakthroughs witnessed in the pharma and biotech business. Moreover, favorable government laws supporting the research pertaining to biologics along with the rapid transformation as well as paradigm shift witnessed in the field of biotechnology will prompt the regional market growth over the forecast period.
Some of the key participants in the business include Sino Biological Inc., Innovent Biologics, Inc., Syngene, GenScript, Boehringer Ingelheim GmbH, Abzena PLC, Adimab LLC, Albany Molecular Research Inc., Catalent, Inc., GL Biochem Corporation Ltd., JHL Biotech, Inc., GVK Biosciences Private Limited, Lonza, ProteoGenix, Selexis SA, Shanghai Medicilon Inc., Horizon Discovery Group plc, and The Jackson Laboratory.
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This report segments the Biologics Outsourcing market as follows:
Biologics Outsourcing Market: By Product Analysis
- Monoclonal Antibody
- Bi-specific Antibody
- Antibody Drug Conjugates
- Recombinant Protein
Biologics Outsourcing Market: By Type Analysis
- Kits & Reagents
Biologics Outsourcing Market: By Source Analysis
Biologics Outsourcing Market: By Applications Analysis
- Vaccine & Therapeutics Development
- Stem Cell Research
- Blood & Blood-Related Products Testing
- Tissue & Tissue Related Products Testing
- Cellular & Gene Therapy
Biologics Outsourcing Market: By Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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