10-May-2022 | Zion Market Research
The global Biologics Outsourcing market was worth around USD 11,285.4 million in 2021 and is estimated to grow to about USD 23620.6 million by 2028, with a compound annual growth rate (CAGR) of approximately 13.1 percent over the forecast period. The report analyzes the Biologics Outsourcing market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Biologics Outsourcing market.[D1]
Increased focus on healthcare is expected to favor the Biologics Outsourcing market potential. Biologics are directly derived from living organisms and this is used in the treatment of multiple chronic diseases. Increasing demand for better treatment options for multiple diseases is projected to boost the demand for multiple healthcare services on a global scale.
Increasing instances of cancer, cardiovascular diseases, and deteriorating lifestyle habits are some of the prominent factors that will drive the Biologics Outsourcing market potential over the forecast period. Increasing investments in research and development by healthcare companies and supportive government initiatives are also expected to favor the Biologics Outsourcing market potential over the forecast period.
Especially, in the developing economies where the focus on healthcare is increasing, these countries are expected to provide lucrative opportunities for Biologics Outsourcing providers. India, China, and Brazil are expected to be the most lucrative markets over the forecast period owing to their untapped potential. Biologics Outsourcing companies are advancing their offerings to provide better services and serve the increasing demand from the developing healthcare infrastructure.
The pandemic of 2020 led to a change in the Biologics Outsourcing market growth trend and this was an aberration to the already in demand market. Biologics Outsourcing was deployed to fast-track the vaccine development of coronavirus infections that led to a global pandemic situation and this increased the demand for Biologics Outsourcing but the market could not grow to its full potential owing to lockdown restrictions that were prevalent on a global scale.
The Biologics Outsourcing market is expected to see robust growth in demand over the forecast period starting from the post-pandemic era as the focus on healthcare will increase more than ever. Increasing instances of cancer and cardiovascular disorders will also favor the Biologics Outsourcing market potential over the forecast period.
The global Biologics Outsourcing market is segregated based on type, source, application, and region. Based on application, the global market is distinguished into Stem Cell Research, Vaccine Development, Tissue Related Products development, and Others. Rising demand for stem cell research and increasing demand for vaccine development due to the rising prevalence of chronic diseases over the forecast period. Increasing support from the government will also drive the growth in these segments over the forecast period
North America accounts for a prominent market share in the global Biologics Outsourcing marketplace and is anticipated to maintain this stance over the forecast period as well. The early adoption of novel technologies and increasing focus on research and development in healthcare is anticipated to drive the Biologics Outsourcing market potential in this region through 2028. The United States is anticipated to be the most prominent market in this region owing to rising healthcare expenditure and the presence of key Biologics Outsourcing companies. The increasing geriatric population and rising prevalence of chronic diseases are also expected to influence the Biologics Outsourcing market potential in this region through 2028. Europe will follow North America closely over the forecast period while the Asia Pacific region will rise at the fastest pace through 2028.
Key players functioning in the global Biologics Outsourcing market include Catalent, Inc., Lonza Group AG, Wuxi Biologics, Boehringer Ingelheim, Abzena Limited, GL Biochem Corporation
Browse the full “Biologics Outsourcing Market By Type (Antibodies, Monoclonal Antibodies, Antibody Drug Conjugates, Others, Recombinant Proteins, Vaccines, Others), By Source (Human, Microbial, Others), By Application (Stem Cell Research, Vaccine Development, Tissue Related Products development, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/biologics-outsourcing-market
Global Biologics Outsourcing market is segmented as follows:
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