Albany, NY -- (SBWIRE) -- 03/28/2016 -- According to a new market study by Transparency Market Research (TMR) on the global bio-services market, the increasing trend of outsourcing the operations involved in drug discovery and clinical trials, and the emergence of contract manufacturing have fueled the market for bio-services across the world.

The research report, titled "Bio-services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2012 - 2018," further states that the increasing need to reduce the time taken in clinical trials and other procedures related to the production of drugs are driving the global bio-services market significantly.

Apart from this, the increasing investments in medical infrastructure, such as in research labs, in the management of clinical data, and in bio-pharma manufacturing, are also propelling the global market for bio-services. The escalating number of government initiatives aimed at promoting these services and the rise in spending capabilities of individuals are also stimulating the demand for bio-services in the global arena, states the research report.

On the other hand, the global bio-services market is expected to face hindrances in the coming years due to the requirement of a huge capital investment for various market operations. However, the intensified competition among market participants is projected to stimulate the global bio-services market substantially over the next few years, notes the market study.

The research report analyzes the worldwide bio-services market on the basis of its regional spread. As per the study, the market is spread across North America, Asia Pacific, Europe, and the Rest of the World. Asia Pacific is likely to lead the global market while North America is anticipated to acquire the second position in the coming years.

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The availability of a skilled workforce at a much cheaper rate than other regions is expected to be the key driving force behind the growth of the market for bio-services in Asia Pacific. The rapid rise of the pharmaceutical industry in this region is also projected to strengthen the Asia Pacific market for bio-services. China, Malaysia, Thailand, and India are projected to dominate the Asia Pacific bio-services market over the next few years, states the research study.

The market report also presents an analysis of the competitive landscape prevalent in the global bio-services market by evaluating the profiles of the companies operating in this market. As per the study, Pfizer, ClinTec International, Novo Nordisk, Clinigene International, Lotus Labs, Benten BioServices, Polyclone Bioservices, Fisher BioServices, Biocon, Novartis, Ranbaxy, Midwest Bio Services LLC., Blue Sky BioServices, and Advion BioServices are some of the leading players in the global market for bio-services.

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