April 12, 2024

The Global Biologics Outsourcing Market Growth Accelerated By Increasing Acceptance Of Biologics

Biologics such as monoclonal antibodies, recombinant enzymes, cytokines, cell and gene therapies are used in treatment of chronic diseases such as cancer, diabetes, autoimmune disorders. These products offer targeted treatment benefits with minimal side effects. However, the complexity and cost associated with manufacturing of biologics has led to increased outsourcing of biologics development and manufacturing activities.

The global Biologics Outsourcing Market is estimated to be valued at US$ 22.66 Bn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Biologics have revolutionized treatment landscape by offering precise treatment and reducing side effects for conditions like rheumatoid arthritis, cancer, diabetes etc. For instance, according to American Cancer Society, around 1.9 million new cancer cases are diagnosed in the US each year. Biologics play a major role in cancer treatment with rising demand. Further, the rising demand is exceeding in-house manufacturing capabilities of pharmaceutical companies. This is prompting pharmaceutical companies to outsource biologics development and manufacturing activities to contract development and manufacturing organizations (CDMOs). The increasing preference for single-use technologies by CDMOs is also boosting market growth as it reduces capital costs and facilitates flexibility of operations.

Segment Analysis
The global biologics outsourcing market is dominated by the development and manufacturing segment. This segment accounts for more than 40% of the overall market share due to outsourcing of biologics development activities such as cell line development, process development, and analytical development to contract manufacturing organizations by pharmaceutical companies. The clinical segment is the fastest growing segment owing to increasing need for outsourcing clinical activities such as clinical trials, regulatory services, and preclinical services to CROs and CMOs for timely development of biologics.

Key Takeaways
The Global Biologics Outsourcing Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Biologics Outsourcing Market is estimated to be valued at US$ 22.66 Bn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2031.

Regional analysis shows that North America currently dominates the market and is expected to continue its dominance over the forecast period. This is due to presence of large number of pharmaceutical and biotechnology companies in the US and Canada. However, Asia Pacific region is expected to witness highest growth in the global biologics outsourcing market owing to growing biopharmaceutical industry in major Asian countries including China, India, Japan and South Korea. Factors such as low labor and manufacturing costs, improving regulatory framework, and increasing investment by pharmaceutical and biotechnology companies are supporting outsourcing of biologics development and manufacturing activities to CROs and CMOs in Asia Pacific region. Government initiatives to promote life sciences R&D in countries such as India and China are also fueling market growth.

Key players
Key players operating in the biologics outsourcing market are Quorum Technologies Inc., Pix4D SA, Photometrix Ltd., Koninklijke Philips NV, Agisoft LLC, PhotoModeler Technologies, Intel Corporation, Faro Technologies Inc., Autodesk Inc., General Electric Company, and Vi3Dim Technologies. Intel Corporation specializes in providing imaging and photogrammetry software and platforms for 3D metrology applications. Photometrix Ltd. offers geospatial data processing and analysis solutions for UAV data. Pix4D SA provides end-to-end drone mapping and modeling software.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it