The global bio-services market is an important part of the biotech industry. In recent years, as diseases have demanded advanced medicines for recovery, the field of biotechnology has relied on the bio-services industry for the desired output. Owing to this dependency, the global bio-services market has grown tremendously in the past few years. The bio-services market comprises third-party organizations or contract research organizations, which aim for drug discovery, conduct clinical trials, and contract production.
Biotechnology to Drive Global Bio-services Market
In the past few years, growing interest by biotechnology companies in the exceptionally resourceful bio-services sector has led to the latter’s progress. Analysts are confident of the prospects for this industry, as more and more clinical trials are underway. This only means that the bio-services sector will have to research and develop new drugs, medical devices, surgical procedures, and treatments.
Additionally, the increasing investment in medical infrastructure such as bio-pharma manufacturing, management of clinical data, and research labs will drive the global bio-services market. Rising disposable incomes and disease awareness amongst the population due to government initiatives in emerging economies are also major factors driving the global bio-services market.
Request For Sample Report:- http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1092
Asia Pacific will Lead Global Bio-services Market
Geographically, China, Thailand, Malaysia, and India are expected to be the main regional markets for bio-services. Growing number of clinical trials and rising demand for outsourcing of drug discovery and contract manufacturing are the major trends that will drive this market in the aforementioned developing nations. This promising growth rate will also be supported by the abundance of raw materials in these regions, cheap labor, and massive regulatory support.
In the larger picture, the stupendous growth of the bio-services market in the Asia Pacific region will be attributable to the lower operating cost in this region. The growth of the bio-services market will also be due to the expanding pharmaceutical industry and increasing number of health-conscious customers.
Lack of Skilled Manpower will be the Biggest Market Restraint for Global Bio-services Market
The promise of growth in the global bio-services market does come with its fair share of doubts. According to research analysts at Transparency Market Research, the global bio-services industry is extremely capital-intensive, which will become a major hindrance in the near future. Analysts further predict that the need for skilled manpower will further complicate the growth of this market. Additionally, the long time required for completing clinical trials means that the market’s growth might occur at a slow pace.
As emerging economies contribute to both consumption and manufacturing of bio-services, the Asia Pacific region will grow at a positive rate in the coming few years. The bio-services market in North America will follow closely, due to steps taken by the government to invest in research and development in the region.
Some of the key players in the global bio-services market are Lambda Therapeutic Labs, Pfizer, Invitrogen BioServices India Pvt. Ltd., Fisher BioServices, Siro ClinPharm, Novo Nordisk, Benten BioServices, Lotus labs, US Bioservices, Polyclone Bioservices, ReSearch Pharmaceutical Services (RPS), Novartis, Paragon Bioservices, Inc., Biocon, Benten BioServices, BeijingWits Medical Consulting, Specialty Ranbaxy, Quintiles, Blue Sky BioServices, Asklep, Advion BioServices, ClinTec International, Clinigene International, Midwest Bio Services, LLC., and Kennet Bioservices Ltd.
Browse Full Global Bio-services Market Research Report With Complete TOC @ http://www.transparencymarketresearch.com/bio-services-market.html
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
Transparency Market Research
90 State Street,
Albany NY – 12207