Global Drug and Medical Device Development Outsourcing Market 2020: Focus on Services and Technologies with Forecasts to 2025 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Drug and Medical Device Development Outsourcing Market 2020: Focus on Services and Technologies" report has been added to ResearchAndMarkets.com's offering.

This report represents a current and important business tool to evaluate technologies, trends, products and market participants in the outsourcing sector for drug and medical device development. The geographic scope of this study covers the U.S. and companies worldwide.

Outsourcing has become one of the main strategies to reduce the cost and time of drug or device development. For example, there are contract research organizations (CROs) that specialize in the drug discovery stage, offering solutions for target screening, validation and lead optimization. Other companies focus on animal studies, pharmacokinetics or assay development.

Contract development and manufacturing organizations (CDMOs) and contract manufacturing organizations (CMOs) are also essential parts of the drug development process. These companies supply manufacturing services for different stages of preclinical and clinical research. Formulation development and bioanalytical testing are also outsourced to variety of vendors.

To conduct clinical trials, many medium-size and small biotech companies outsource specific activities such as study design, patient recruitment and other associated services. Medical device development represents a unique sector due to its specific design, regulatory and manufacturing needs. Overall, the outsourcing market can be viewed and analyzed by different stage of drug/device development process.

Importantly, pharma companies have different outsourcing needs than smaller biotech and start-ups. In sum, each development activity can be outsourced to vendors with the required experience and knowledge.

This report will describe current trends, products, evolving technologies and new services in the outsourcing industry for drug and medical device development. It will evaluate current situation and forecast possible outcomes of this market for the next five years.

The report includes:

• An overview of the global outsourcing market for drug and medical device development and discussion on their services and technologies
• Analyses of global market trends, with data from 2018, 2019, estimates for 2020, and projections of compound annual growth rates (CAGRs) through 2025
• Identification of key challenges and opportunities in the drug and medical device development market and coverage of products and services related to different sectors of the industry
• Information on ISO, GLP, cGMP regulatory aspects in drug development and discussion on their importance related to certification of specific facilities
• A look at the ongoing activities in drug and device development process, their budget, timeline, resources and processes
• Insights into regulatory framework, investment analysis, growth indicators and key decision supporting factors and evaluation of current market size, market forecast, and market share analysis of the leading players of the industry
• Comprehensive profiles of major players in the industry, including Sterling Medical Devices, Evotec SE, Ajinomoto Althea, Eurofins Scientific, Charles River Laboratories Inc and DeviceLab

Market Projections

• The global outsourcing services market for drug and medical device development is expected to grow from 130.5 billion pounds in 2020 to 205.6 billion pounds by 2025 with a compound annual growth rate (CAGR) of 9.5% for the period of 2020-2025.
• The global outsourcing services market for preclinical stage is expected to grow from 67.5 billion pounds in 2020 to 106 billion pounds by 2025 with a compound annual growth rate (CAGR) of 9.4% for the period of 2020-2025.
• The global outsourcing services for medical device development market is expected to grow from 30 billion pounds in 2020 to 50 billion pounds by 2025 with a compound annual growth rate (CAGR) of 10.8% for the period of 2020-2025.

For more information about this report visit https://www.researchandmarkets.com/r/ub1a93