Biopharmaceutical Outsourcing In-Depth Industrial and Market studies - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Albany, New York, Feb 01, 2017
"Biopharmaceutical
Outsourcing Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast, 2013 - 2019"
The Report covers current Industries Trends, Worldwide Analysis,
Global Forecast, Review, Share, Size, Growth, Effect.
Description-
Biopharmaceutical
industry is one of the major contributors in global economic
progress. Due to globalization, outsourcing of the biopharmaceutical
processes has increased to great extent. Complexity of processes and
technology oriented industry companies started finding it feasible
for outsourcing processes to experts. Outsourcing also helped
corporate in cost reduction and better focus on core business
segments. Once considered as a cost saving alternative, outsourcing
of biopharmaceutical business is now a strategic decision.
Biopharmaceutical
market is very competitive and global players occupying majority of
market share operate in same geographies. Although advent of generics
is an opportunity for small pharma companies, it is major threat to
branded drug manufacturers. It forces companies to invent new sources
for revenue generation. Rising cost of drug discovery, regulatory
policies and drug recalls have added to worries. Under such
circumstances, biopharmaceutical companies have started outsourcing
their non-core and some core businesses to externs. Due to complex
nature of biopharmaceutical business, various outsourcing
opportunities have been created across the value chain.
One
of the major problems that companies face in the era of globalization
is the trade barriers to enter in a new market. Outsourcing can prove
to be an important factor in overcoming the trade barriers and gain
entry into to a foreign market. By outsourcing business, companies
also gain access to new technology, with reduced investment cost.
This dictates better operational and financial efficiency. Major
outsourcing opportunities exist in drug discovery, clinical trial
management and logistics, manufacturing, and distribution. Owing to
global reach clinical trial management is one of the fastest growing
outsourcing businesses in biopharmaceutical industry. Various
companies have expertise in clinical trial logistics; some of them
include Parexel, World Courier, DHL, Pharmaceutical Product
Development, LLC, B&C Group, and Fisher Clinical Services.
Outsourcing of research and development activities has also reduced
the time-to-market time. Thus companies can launch new products at a
shorter time span, thus developing competitive edge. With increasing
trend in outsourcing manufacturing, original equipment manufacturing
(OEM) business is growing rapidly. IT and packaging are also major
areas where biopharmaceutical companies prefer outsourcing business.
Rapidly developing technology and lack of expertise has given rise to
services such as molecular imaging, companion diagnostics,
construction of antibody library, cell line and biomarker
development, and genomic testing. Various companies are taking the
strategic decision for better business management. In 2011, Pfizer
signed an agreement with Parexel for clinical development services;
Astra Zeneca also signed a deal with IBM for IT outsourcing in 2013.
Outsourcing also allows better resource utilization for maximum
productivity. Geographically Asia-Pacific is expected to be the major
point of focus for biopharmaceutical outsourcing market. India and
China are the most preferred destinations for outsourcing, where
large pool of skilled labor is available at lower cost. High costs in
western countries have also a factor contributing to flow of
biopharmaceutical outsourcing to Asia-Pacific region.
Biopharmaceutical
outsourcing market also faces certain drawbacks. Outsourcing business
comes with its own risk of credibility. In 2013, GlaxoSmithKline
filed a lawsuit against Hospira, for not complying with quality
standards. Hospira may pay USD 25 million to compensate the damage.
Other factors restraining market growth are lack of control and
coordination in processes, and real time process updates. To overcome
these drawbacks proactive risk management and effective process
control must be considered as prerequisites for outsourcing business.
This
research report analyzes this market depending on its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report
provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a
complete study of current trends in the market, industry growth
drivers, and restraints. It provides market projections for the
coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Comments
Post a Comment