Future Market Insights (FMI), a leading provider of industry analysis and market research, has revealed in its latest report that the global advanced therapeutics pharmaceutical outsourcing market is poised for significant growth. The market, which stood at USD 7,592.8 million in 2024, is projected to expand robustly at a Compound Annual Growth Rate (CAGR) of 4.4% and reach a valuation of USD 11,698.1 million by 2034.
Advanced therapeutics represent a cutting-edge domain within the pharmaceutical industry, encompassing a spectrum of innovative treatments such as gene therapies, cell therapies, mRNA-based therapies, and other personalized and precision medicine approaches. These therapies hold immense promise for addressing unmet medical needs and revolutionizing treatment paradigms across various disease areas.
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Recognizing the complexity and rapid evolution of advanced therapeutics, pharmaceutical companies are increasingly turning to external partners for collaboration. Contract Development and Manufacturing Organizations (CDMOs) and Contract Research Organizations (CROs) play a pivotal role in this ecosystem, offering specialized expertise, infrastructure, and capabilities to support the development and commercialization of advanced therapies.
“The global advanced therapeutics pharmaceutical outsourcing market is witnessing a notable uptick as pharmaceutical companies seek to harness external resources and expertise to navigate the complexities of advanced therapeutic development,” commented a spokesperson from Future Market Insights. “Collaboration with CDMOs and CROs allows companies to leverage specialized capabilities and accelerate the pace of innovation in this dynamic sector.”
The projected growth of the advanced therapeutics pharmaceutical outsourcing market underscores the increasing demand for outsourced services to support the development, manufacturing, and commercialization of advanced therapies. With advancements in biotechnology and an expanding pipeline of novel therapeutic modalities, the market is expected to witness sustained growth opportunities in the coming years.
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,” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
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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).
Key Companies Profiled:
- Croda International Plc
- Charles River Laboratories International, Inc.
- Catalent, Inc.
- QuintilesIMS (IQVIA)
- Parexel International Corporation
- ICON plc
- PPD, Inc. (Thermo Fisher Scientific)
- LabCorp (Laboratory Corporation of America Holdings)
- Syneos Health
- WuXi AppTec
- Lonza Group
- Piramal Pharma Solutions
- SGS SA
- Evotec SE
- CMC Biologics (Now AGC Biologics)
- Marken (A UPS Company)
- Cytovance Biologics
- Samsung Biologics
- CordenPharma
- Recipharm AB
- Vetter Pharma International GmbH
- Cryoport Systems, Inc.
- ProPharma Group
- Fujifilm Diosynth Biotechnologies
- Medpace
- Novotech Pty Ltd.
- Axcella Health Inc.
- CelerionAshland
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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