The biopharmaceutical CROs market is projected to be worth USD 67 billion by 2030, claims Roots Anal
Over past few years, pharmaceutical companies have outsourced various aspects of their R&D and clinical research processes to specialty contract research service providers, in order to remain competitive, flexible, and profitable in the industry
Roots Analysis has announced the addition of “Biopharmaceutical CROs Market, 2021-2030,” report to its list of offerings.
Given their numerous advantages, which include high specificity for intended molecular targets, ability to treat a myriad of disease indications, and patient friendly toxicity profiles, the demand for biologics is high and growing. This presents lucrative opportunities for contract research providers that offer services for this rapidly evolving class of pharmacological interventions. In fact, since 2001, over 80 new CROs have been established, offering a wide variety of cost-efficient research services and solutions to biologic developers.
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Key Market Insights
More than 160 players claim to offer contract research services to pharmaceutical and biotechnology companies across the world
This segment of the service industry is dominated by start-ups / small companies (2-50 employees) and mid-sized players (51-200 employees), which represent more than 70% of the contemporary CRO landscape. Close to 50% of the stakeholders are based in North America, followed by Europe and the Asia-Pacific region.
More than 45% of companies claim to offer research services for vaccines and cell therapies
On the other hand, close to 40% of CROs claim to have the required capabilities to provide antibody related research services. A number of biopharmaceutical research service providers are now offering services for niche and upcoming classes of biologics, such as Altasciences, Biocon, and Iris Pharma.