Advanced Therapeutics Pharmaceutical Outsourcing market analysis with opportunity segments
Advanced Therapeutics Pharmaceutical Outsourcing Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON, UK, July 1, 2024 /EINPresswire.com/ -- The advanced therapeutics pharmaceutical outsourcing market has experienced robust growth in recent years, expanding from $7.64 billion in 2023 to $8.07 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to growth in biopharmaceutical infrastructure, regulatory compliance, increasing demand for novel drugs to treat chronic and life-threatening diseases, improved efficiency, and growing demand for personalized medicine.
Strong Future Growth Anticipated
The advanced therapeutics pharmaceutical outsourcing market is projected to continue its strong growth, reaching $9.76 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to the increasing adoption of cell and gene therapies, The increasing focus on mRNA therapies, rising demand for cutting-edge treatments, improved efficiency and cost-effective solutions provided by outsourcing partners, and collaborative innovation.
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Growth driver of the advanced therapeutics pharmaceutical outsourcing market
The increasing adoption of cell and gene therapies is expected to propel the growth of the advanced therapeutics pharmaceutical outsourcing market going forward. Cell and gene therapies are innovative treatments that use living cells or genetic material to treat or cure diseases. Advanced therapeutics pharmaceutical outsourcing is used in cell and gene therapies to offer access to providers with proven track records and experienced personnel, saving companies time and resources in building their teams.
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Major Players and Market Trends
Key players in the advanced therapeutics pharmaceutical outsourcing market include Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, IQVIA, ICON plc, SGS SA, Lonza Group, Parexel International Corporation, WuXi AppTec, Syneos Health, Catalent Inc., Charles River Laboratories International, Recipharm AB, Croda International Plc.
Major companies operating in the advanced therapeutics pharmaceutical outsourcing market are focusing on strategic partnerships to provide reliable services to customers. A strategic partnership is a collaborative arrangement between two or more entities (typically businesses) formed to achieve mutually beneficial goals that each partner could not achieve independently.
Segments:
1) By Service Type: Contract Research Organizations (CROs), Contract Development And Manufacturing Organizations (CDMOs)
2) By Indication: Oncology, Neurology, Cardiology, Infectious Diseases, Other Indications
3) By Therapy: Cell Therapy, Gene Therapy, RNA-based Therapies
4) By Application: Preclinical Services, Clinical Services, Commercial Manufacturing And Packaging
Geographical Insights: North America Leading the Market
North America was the largest region in the advanced therapeutics pharmaceutical outsourcing market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of advanced therapeutics pharmaceutical outsourcing.
Advanced Therapeutics Pharmaceutical Outsourcing Market Definition
Advanced Therapeutic Pharmaceutical Outsourcing refers to contracting out specialized pharmaceutical services related to advanced therapeutic products. These products often include advanced therapies such as cell and gene therapies, personalized medicines, biologics, and other novel treatments. They are used to obtain specialized expertise and capabilities in producing, testing, and developing advanced therapeutic products.
Advanced Therapeutics Pharmaceutical Outsourcing Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Advanced Therapeutics Pharmaceutical Outsourcing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on advanced therapeutics pharmaceutical outsourcing market size, advanced therapeutics pharmaceutical outsourcing market drivers and trends, advanced therapeutics pharmaceutical outsourcing market major players, competitors' revenues, market positioning, and market growth across geographies. The advanced therapeutics pharmaceutical outsourcing market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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