Europe Biotechnology And Pharmaceutical Services Outsourcing Market Size | Companies
The Europe biotechnology and pharmaceutical services outsourcing market size was exhibited at USD 10.25 billion in 2023 and is projected to hit around USD 17.94 billion by 2033, growing at a CAGR of 5.76% during the forecast period 2024 to 2033.
| Report Coverage | Details |
| Market Size in 2024 | USD 10.84 Billion |
| Market Size by 2033 | USD 17.94 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 5.76% |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Segments Covered | End-use, Service, Country |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional Scope | Germany; UK; France; Italy; Spain; Denmark; Sweden; Norway |
| Key Companies Profiled | Concept Heidelberg GmbH; ICON PLC; Venus Pharma GmbH; Kindeva Drug Delivery; Midas Pharma GmbH; IQVIA Inc. |
Some of the key factors driving the growth of this market include the substantial increase in inclination towards outsourcing R&D activities to expert organizations, changing regulatory landscape, rising focus of biotechnology and pharmaceutical on core competencies, high clinical development failure rates, and increasing drug development costs.
Europe biotechnology and pharmaceutical services outsourcing market held a share of 21.7% of the global biotechnology and pharmaceutical services outsourcing market revenue in 2023. Several industry dynamics are encouraging biotechnology and pharmaceutical companies to outsource functions, such as clinical development, quality management, regulatory writing & publishing, product registration & clinical trial applications, research, strategy, & concept generation design verification & validation, auditing, product maintenance, training, and more.
Well-established regulatory outsourcing firms, contract research organizations (CROs), management consulting firms, and manufacturers working on contracts are diligently taking care of the complex demands of the pharmaceutical and biotechnological sectors.
Based on the end-use, the pharmaceutical companies segment held the largest share of 57.15% in 2023. This segment is primarily driven by factors, such as the need for assistance developed due to the changing nature of regulatory scenarios, enhanced product design & development accomplished through outsourcing, and improved product testing & validation attained through expert assistance.
An increase in expenditure on R&D by pharmaceutical companies for the discovery and development of potential unique products is anticipated to drive market growth in the coming years. The biotech companies segment is expected to reregister a CAGR of 6.11% from 2024 to 2033.
The consulting services segment dominated the regional market and held a revenue share of 24.4% in 2023. Consulting businesses provide various services to assist companies in meeting regulatory compliances as well as quality standards and reducing environmental damages. For a pharmaceutical company, these businesses offer an enhanced level of expertise and experience. A rise in fraudulent cases and constant growth in technological innovations are two of the major challenges encountered by pharmaceutical/biotechnological companies. Therefore, such companies are inclined towards outsourcing a few functions.
The training & education segment is expected to register a CAGR of 4.31% from 2024 to 2033. This is mainly due to the ever-changing nature of the industry. Technological enhancements, changes in business functions, and fluctuations in political & economic scenarios make this industry extremely dynamic. This creates challenges for employees and professionals in keeping up with the required know-how and skills. The training and education services provided by expert organizations assist them in keeping themselves updated and equipped with the necessary competencies.
Germany Biotechnology And Pharmaceutical Services Outsourcing Market Trends
The Germany biotechnology and pharmaceutical services outsourcing market dominated the regional industry and accounted for a share of 25.2% in 2023. Germany is one of the largest pharmaceutical markets in the world after the U.S., Japan, and France, which is one of the major factors responsible for the high demand for pharmaceutical and biotechnology contract services in the country.
France Biotechnology And Pharmaceutical Services Outsourcing Market Trends
The biotechnology and pharmaceutical services outsourcing market in France is expected to register a CAGR of 6.2% from 2024 to 2033. Smaller pharmaceutical and biotechnology companies in France are increasingly entering the market by offering generics at lower prices and shifting the focus of major players in the healthcare industry toward innovation by developing novel drugs.
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Europe biotechnology and pharmaceutical services outsourcing market
End-use
Service
Country
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