Transparency Market Research Report Added "Biopharmaceutical Outsourcing Market" to its database.
Albany, NY -- (SBWIRE) -- 04/05/2016 -- A report from Transparency Market Research, titled 'Biopharmaceutical Outsourcing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,' states that the global biopharmaceutical outsourcing market is predicted to expand at a rapid pace during the period between 2013 and 2019 due to the many benefits of outsourcing and increasing complexity of biopharmaceutical procedures.
Currently, the biopharmaceutical industry is set for a swift expansion and is definitely one of the primary contributors in the global economic progress. Globalization has led to increasing outsourcing of biopharmaceutical processes. Technology-oriented companies are increasingly outsourcing biopharmaceutical processes. Over the past few years, the outsourcing of biopharmaceutical processes has received a lot of acceptance, as outsourcing helps in cost reduction and also offers a better focus on prime business segments.
Earlier, outsourcing of biopharmaceutical processes was considered to be a cost saving alternative. Today, it is considered to be a mainstream strategic decision. The global biopharmaceutical outsourcing market is highly competitive in nature and is occupied by leading companies operating in various locations. Even though the advent of generics is a great opportunity for small and mid-sized pharma companies, it is considered to be a major threat for branded drug manufacturers. It forces organizations to discover novel sources to generate revenue.
The increasing cost of drug discovery, regulatory policies, and increasing cases of drug recalls in the recent past have added to the concerns of the global biopharmaceutical outsourcing market. To avoid such circumstances in the near future, leading players in the global biopharmaceutical outsourcing market have started outsourcing their core and non-core businesses to experts. Due to the complexity of biopharmaceutical procedures, many outsourcing opportunities are expected to be created in the global market in the years to come.
In the age of globalization, many organizations face trade barriers, and this is when outsourcing comes in the picture. By outsourcing business, companies can enter the foreign market by fighting all possible barriers. Also, with outsourcing, it is possible to have easy access to new technology trending in the global market. Owing to global reach, the clinical trial management business is one of the fastest growing businesses in the global biopharmaceutical outsourcing market. Parexel, DHL, World Courier, Pharmaceutical Product Development, LLC, Fisher Clinical Services, and B&C Group are some of the leading companies operating in the global biopharmaceutical outsourcing market.
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Lately, outsourcing of research and development activities has also helped companies reduce their time to market. With this, there has been rapid growth in original equipment manufacturing (OEM) businesses. Further, packaging and IT are also two key areas where biopharmaceutical organizations prefer to outsource business. Lack of expertise and the rapidly developing technological landscape has given rise to many services such as companion diagnostics, molecular imaging, cell line and biomarker development, genomic testing, and antibody library.
The global biopharmaceutical outsourcing market is divided by geography into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific is predicted to be the major area of focus in the global biopharmaceutical outsourcing market. China and India are two of the popular destinations for biopharmaceutical outsourcing due to the availability of skilled labor.
Mr. Sudip S
Transparency Market Research
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