LONDON--(BUSINESS WIRE)--The global healthcare contract research and manufacturing outsourcing market is expected to post a CAGR of close to 12% over the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the rising focus on drug discovery and development. Pharmaceutical and biotechnology companies, as well as research institutes worldwide, are increasingly investing in R&D for drug discovery and development, owing to the rise in prevalence of chronic diseases.
This market research report on the global healthcare contract research and manufacturing outsourcing market also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growth in the number of M&As as one of the key emerging trends in the global healthcare contract research and manufacturing outsourcing market:
Global healthcare contract research and manufacturing outsourcing market: growth in the number of M&As
A significant number of medical devices and pharmaceutical and biotechnology companies have reduced their R&D and operation budgets, which has increased the demand for outsourcing drug discovery and medical device development. Moreover, companies have consolidated their infrastructure in response to the global economic meltdown, poor prospects of growth in revenue, and expensive and inefficient operations. Strategic partnerships between pharmaceutical companies and CROs have resulted in the reduction of spending on manufacturing.
“Vendors in the market have adopted M&A as one of the main marketing strategies to broaden their portfolio, access new geographies, and consolidate their core business in existing as well as new markets. This strategy has resulted in an increase in inorganic growth for companies, especially the large players. These entities pursue M&A with the long term objective of establishing their presence in new markets,” says a senior analyst at Technavio.
Global healthcare contract research and manufacturing outsourcing market: Segmentation analysis
This market research report segments the global healthcare contract research and manufacturing outsourcing market by application (drug discovery and outsourcing, medical device manufacturing outsourcing) and key regions (the Americas, APAC, and EMEA).
The Americas held the highest share of the global healthcare contract research and manufacturing outsourcing market in 2017, accounting for a market share of around 43%, followed by EMEA and APAC. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period. The market share of this region will witness a significant increase of over 4% while the other two regions will see a decline in their share of the market.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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