The pharmaceutical outsourcing market has seen exponential growth in previous years, and is expected to expand even more in the coming years. It is currently amounting to approximately $130.65 billion, with a steady rise in CAGR of about 9.4% from 2009 to 2014, and is forecasted to have an increase in CAGR of 8.7% in the next six years (2015-2020), reaching about $215 billion by 2020.
Today, pharmaceutical outsourcing can be seen in almost every aspect of the healthcare industry. From routine operations, to networked partnerships, medical IT support, and administrative tasks, outsourcing is being implemented in many areas. Several factors contribute to this widespread usage, such as the booming biotechnology industry, increased venture capital funding for research and development of such companies.
Outsourcing is reaching a maturity in the healthcare industry, having been practiced for decades now that include appointments that require close collaboration, open innovation, and technology licensing. Its steady growth is expected to accelerate ever further in the coming years.
For a complete overview of the pharmaceutical outsourcing market, Research and Markets recently produced an in-depth report called “Outlook of Global Pharmaceutical Outsourcing Market“. Research and Markets is a well-regarded market research market from that has produced a report that provides the reader with an analysis of industry.
As a firm that specializes in studying pharmaceutical outsourcing, they provide insight into the current market and what they foresee in terms of growth potential, including other outsourcing sectors as well.
It is currently the most up to date report that will be of interest to those dealing with the pharmaceutical outsourcing industry, including biotech companies seeking opportunities in R&D and manufacturing, service providers, and potential VC investors seeking investment opportunities within the pharmaceutical market.
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