Global Biologics Outsourcing Market: Insights, Trends & Forecast (2019-2023)

DELHI, India - Oct. 14, 2019 - PRLog -- The global biologics outsourcing market is estimated to reach US$26.4 billion in 2023, growing at a CAGR of 16.77% for the period spanning from 2019 to 2023. The factors such as increasing aging population, higher healthcare spending, rising incidences of chronic conditions, increasing R&D spending on biologics drugs and growing focus on biologics are expected to drive the market. However, growth of the industry will be challenged by high capital requirement, high technical requirement, regulatory issues and ability to capture customers from established competitors. A few notable trends include new drug development and increasing demand for antibody conjugates.

The global biologics outsourcing market is broadly segmented into two types which are instruments and kits & reagents. The use of antibodies for treating various chronic diseases such as asthma and diabetes is increasing investment in research activities which has stimulated the demand for biologics outsourcing market globally.

The fastest growing regional market is China owing to the Chinese government which has issued many regulations and policies to support the development of the biologics outsourcing market in China. Marketing Authorization Holder or MAH, Pilot Program for drug approval process allows biologics applicants with products that are manufactured in China to outsource the manufacturing process to third party biologics outsourcing service providers. The U.S. and Asia are highly established premium markets that contribute to significant shares in the global market.

Scope of the report:

• The report provides a comprehensive analysis of the global biologics outsourcing market, segmented into two types which are instruments and kits & reagents.

• The major regional markets have been analyzed, with the coverage of China.

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.

• The competitive landscape of the market, along with the company profiles of leading players (Lonza Group, Wuxi Biologics, Boehringer Inhgelheim, Catalent Inc., Abzena and Thermo Fisher) are also presented in detail.

For more Information:

https://www.konceptanalytics.com/Researchreport/global-biologics-outsourcing-market-insights-trends-forecast-2019-2023-45660.aspx

Koncept Analytics

Vikas Gupta

(Business Development Manager)

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Tele: +91-120-4130959

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Mail ID – vikas@konceptanalytics.com