The Biologics Contract Development Market size is expected to reach USD 13.22 billion by 2030, according to a new study by Polaris Market Research. The report “Biologics Contract Development Market Share, Size, Trends, Industry Analysis Report, By Source (Mammalian, Microbial, Others); By Indication; By Product Service; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The market is being driven by factors such growing use of advanced technologies for biological production, increased R&D activities by pharmaceutical and biopharma businesses, and supportive regulations for clinical trials in developing nations. Biopharmaceutical CDMOs are adopting cutting-edge technology by investing time and capital to build differentiated capabilities.
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China, India, and Korea remain the most popular regions for clinical research among developing nations. These nations' governments encourage outsourcing as it attracts foreign investment. Additionally, regulatory agencies in developing nations are aligning their policies with EMA and FDA standards speeding up the approval process.
During the COVID-19 pandemic, numerous CROs worked with biotechnology companies to do research and development on COVID-19 vaccines. The majority of clinical trials focused on developing new novel COVID-19 treatments. However, it is also projected that research will focus on cancer in the post-pandemic period due to rising cancer incidence.
Biologics Contract Development Market Report Highlights
Polaris Market Research has segmented the biologics contract development market report based on source, product service, indication, and region:
Biologics Contract Development, Source Outlook (Revenue - USD Billion, 2018 - 2030)
Biologics Contract Development, Product Service Outlook (Revenue - USD Billion, 2018 - 2030)
Biologics Contract Development, Indication Outlook (Revenue - USD Billion, 2018 - 2030)
Biologics Contract Development, Regional Outlook (Revenue - USD Billion, 2018 - 2030)