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Bio-services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

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Global Bio-services Market: Overview

The highly salient and high interest bio-services sector has almost lived up to its initial potential substantially when its progress is tracked over the last couple of years. The revenue and volume figures from bio-service include contract manufacturing, contract research, and clinical research. Many industry analysts and leaders are confident about the potential and prospects of the bio-services sector. For instance, a few years ago, there were approximately 120 clinical trials subcontracted to India and about 11 were enumerated officially with the Clinical Trial Registry of India (CTRI). At present, as many as 600 trials of new drugs, medical devices, treatments, and surgical procedures are ongoing in India. With the inherent cost advantages and the high investments and consolidation, it is expected that new set-ups and subsidiaries of bio-pharma manufacturers and research labs, in new sites along with  clinical data management is anticipated to bode well for the growth of this sector across the globe.

Over the coming years, chief pharmaceutical and biotech companies across the world are expected to slant their selections in the favor of complete value service providers of bio-services instead of playing on the incurring costs alone. This is fundamental to choices that affect the strategic benefits and not the cost-led or short-term goals. IT services essential for clinical data management and validation skills are expected to add incentive to the progress of the global bio-services market, past the bioequivalence and bioavailability studies that dominate the industry at present day. Possibly the utmost inspiring aspect for this sector is that it rides on an optimistic macro-environment and development outlook of the complete biotech industry.

The research publication is a broad examination of the growth trajectory in terms of the historical, current, and future opportunities of the global bio-services market. It provides an assessment of the dynamics that are expected to affect the growth of the market and the predominant trends have also been stated in the study. The report also presents a diverse outlook of the competitive picture of the market through the value chain and Porter’s five forces analysis. The report mentions the research and development projects, mergers and acquisitions, details on collaborations and licensing. The study provides insights into the marketing strategies, products, and shares of the key players operating in the global bio-services market.

Global Bio-services Market: Trends and Prospects

The outsourcing of clinical trials, drug discovery, and contract manufacturing has recently emerged as a trend in several developed economies. As a result of this, the bio-services market is also growing robustly in developing countries such as China, Thailand, Malaysia, and India as these countries are investing in the research and development projects for the development of innovative bio-services. The bio-services also has potential opportunities in emerging economies owing to the regulatory support by governments, easy raw material availability, and cheap labor. The global bio-service industry is likely to surge ahead of other bio-technology applications due to its low operating costs. Various institutions and organizations are investing in the research and development projects to reduce the lengthy process time span in clinical trials. This is one of the primary driving factors of the global bio-services industry. The market growth is further expected to be propelled by the rising awareness among consumers regarding bio-services and government initiatives in the emerging economies.

The primary inhibiting factor for the growth of the market is the requirement of a large amount of capital investment which is required for the purpose of employing skilled manpower for the clinical drug trials, which may take a time of seven years to reach a resolution. However, the adoption of bio-services is likely to be stimulated by the progress of the pharmaceutical industry across the globe and the growth in the number of health-conscious consumers.

Global Bio-services Market: Regional Outlook

The Asia Pacific market for bio-services is expected to exhibit strong growth in the near future owing to the input from emerging economies. It is expected to be trailed by North America owing to a large amount of investment by the government in advanced research projects.

Companies mentioned in the Report

Some of the leading companies operating in the market are Midwest Bio Services LLC., Quintiles, Blue Sky BioServices, BeijingWits, Specialty Ranbaxy, Benten BioServices, Novartis, Fisher BioServices, Pfizer, Novo Nordisk, and Siro ClinPharmn.

This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include 

  • North America 
  • Asia Pacific 
  • Europe
  • Rest of the World  

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market  
     

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.


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