Product design and development services, provides services related to designing and development of products by analyzing the current market requirements.
Biotechnology & Pharmaceutical Services Outsourcing Market Size Worth $91.4 Billion By 2028: Grand View Research, Inc.
SAN FRANCISCO, Feb. 10, 2021 /PRNewswire/ The global biotechnology and pharmaceutical services outsourcing market size is expected
to reach USD 91.4 billion by 2028 registering a CAGR of 5.2%, according to a new report by Grand View Research, Inc. The high demand for biologics along with small molecules has led to the expansion of service portfolios of Contract Manufacturing Organizations (CMOs)/Contract Research Organizations (CROs) for biotechnology and pharmaceutical production. Small pharma/biotech companies are facing challenges while performing in-house development, regulatory affairs, product maintenance, product design & development, product testing & validation, and training & education, such as lack of substantial expertise and expensive capability. This, in turn, has created lucrative opportunities for the growth of CMOs & CROs. Contract services are