Advanced Therapeutics Pharmaceutical Outsourcing Market to Surge at a CAGR of 4.4% by 2034 Amid Growing Demand for Personalized Medicine
Future Market Insights, Inc. (FMI) reveals a surging advanced therapeutics pharmaceutical outsourcing market, propelled by cutting-edge treatments and the crucial role of specialized partners. Gene therapies, cell therapies, mRNA breakthroughs, and personalized medicine drive the need for expert support. Explore full report for insights & stakeholder opportunities.
NEWARK, Del., Jan. 16, 2024 /PRNewswire/ -- Future Market Insights (FMI)' latest industry analysis shows that the Global Advanced Therapeutics Pharmaceutical Outsourcing Market was valued at US$ 7,197.8 million in 2023. The market is projected to reach US$ 11,698.1 million, surging at a CAGR of 4.4% by 2034.
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Advanced therapeutics encompass a range of cutting-edge and innovative treatments, including gene therapies, cell therapies, mRNA-based therapies, and other personalized and precision medicine approaches. Pharmaceutical companies often collaborate with external partners, such as contract development and manufacturing organizations (CDMOs) and contract research organizations (CROs) service providers, to leverage their expertise, infrastructure, and capabilities in the complex and rapidly evolving field of advanced therapeutics.
The advanced therapeutics pharmaceutical outsourcing market is propelled by an array of drivers and opportunities that underscore its pivotal role in the dynamic landscape of advanced therapeutic development. Rapid advancements in gene therapy, cell therapy, and mRNA technologies are catalysts for outsourcing services, demanding specialized expertise to navigate their complexities.
The escalating pipeline of innovative therapies, especially those targeting rare diseases and oncology, provides a fertile ground for outsourcing partners to offer indispensable support in development and manufacturing. The globalization of clinical trials, driven by the trend toward personalized medicine, particularly in oncology, further amplifies the demand for outsourcing services with a global reach.
Technological innovations in manufacturing, such as continuous manufacturing and automation, present opportunities for outsourcing partners to enhance efficiency and scalability in producing advanced therapeutics. Strategic collaborations and partnerships between pharmaceutical companies, academic institutions, and outsourcing entities foster innovation and collectively address challenges in the rapidly evolving field.
As the market evolves, opportunities lie in expanding outsourcing services to cover a broader spectrum of advanced therapeutic modalities, meeting pharmaceutical clients' diverse and dynamic needs.
Scope of the Report
Attribute
Details
Estimated Market Size (2024)
US$ 7,592.8 million
Projected Market Size (2034)
US$ 11,698.1 million
Anticipated Growth Rate (2024 to 2034) 4.4 %
Forecast Period
2024 to 2034
Historical Data Available for
2019 to 2023
Market Analysis
US$ million for Value
United States South Korea Hungary
Canada
Germany Romania
France
India
Mexico
Brazil Spain Association of Southeast Asian
Chile
Italy Nations Countries
BENELUX
Australia and New
China Zealand
Japan Nordic Countries
GCC Countries
United
South
Poland Kingdom Africa
Key Countries Covered
BENELUX Türkiye
Key Market Segments Covered
Advanced Therapeutics Pharmaceutical Outsourcing Industry Segmentation
By Service Type:
Contract Research Organizations (CROs)
Contract Development and Manufacturing Organizations (CDMOs)
By Indication:
Oncology
Neurology
Cardiology
Infectious Diseases
Others
By Therapy:
Cell Therapy
Gene Therapy
RNA-based Therapies
Others
By Phases:
Preclinical Services
Clinical Services
Commercial Manufacturing and Packaging
By Region:
North America
Latin America
East Asia
South Asia and Pacific
Western Europe
Eastern Europe
Middle East and Africa
Key Companies Profiled
Croda International Plc
Charles River Lonza Group
Piramal Recipharm AB
Vetter
Laboratories International, Inc. Pharma Solutions
SGS Pharma International GmbH
Catalent, Inc.
QuintilesIMS (IQVIA) SA
Evotec SE Cryoport Systems, Inc.
Parexel International Corporation CMC Biologics (Now AGC ProPharma Group
ICON plc
PPD, Inc. (Thermo Fisher Biologics)
Marken (A Fujifilm Diosynth
Scientific)
LabCorp (Laboratory UPS Company) Biotechnologies
Corporation of America Holdings)
Syneos Cytovance Biologics Medpace
Novotech Pty
Health
WuXi AppTec Samsung Biologics Ltd.
Axcella Health
CordenPharma Inc.
CelerionAshland
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Key Takeaways from the Market Study
-- By service type, contract development and manufacturing organizations
(CDMOs) are expected to surge at a CAGR of surge at a CAGR of 3.7% by
2034.
-- By indication, oncology held a 46.1% market value share in 2023.
-- By therapy, gene therapy held the leading share in the market of 49.6%
in 2023.
-- By phases, commercial manufacturing, and packaging segment dominates
with the leading share, accounting for 54.9% in 2023.
-- North America is the primary region, holding a substantial value share
of 37.3% in 2023.
"Development and manufacturing of advanced therapeutics, such as gene and cell therapies, is responsible for the growth of the advanced therapeutics pharmaceutical outsourcing market worldwide," says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Competitive Landscape
The advanced therapeutics pharmaceutical outsourcing market encourages collaborative innovation, with pharmaceutical companies and outsourcing partners working together to advance technologies, overcome challenges, and bring novel therapies to market.
For instance,
-- In June 2023, KD Pharma Group and DUDE CHEM announced their strategic
partnership to usher in a new era of digital innovation, greatly
enhancing the efficiency and safety of pharmaceutical drug and therapy
development.
-- In January 2021, Thermo Fisher Scientific, Inc. acquired the viral
vector business from Henogen S.A (Groupe Novasep SAS).
Want more insights?
Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. The global advanced therapeutics pharmaceutical outsourcing market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights into the advanced therapeutics pharmaceutical outsourcing market segment based on service type - (contract research organizations (CROs), contract development and manufacturing organizations (CDMOs)), indication (oncology, neurology, cardiology, infectious diseases, others), therapy (cell therapy, gene therapy, RNA-based therapies, others) phases (preclinical services, clinical services, commercial manufacturing, and packaging) across seven major regions.
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About Healthcare Division at Future Market Insights (FMI)
Future Market Insights (FMI) facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business. Know more about our sector coverage here.
About the Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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