Saudi Arabia Biotechnology And Pharmaceutical Services Outsourcing Market Size & Outlook
Saudi Arabia biotechnology and pharmaceutical services outsourcing market, 2018-2030 (US$M)
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Saudi Arabia biotechnology and pharmaceutical services outsourcing market highlights
- The Saudi Arabia biotechnology and pharmaceutical services outsourcing market generated a revenue of USD 487.1 million in 2023 and is expected to reach USD 648.5 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4.2% from 2024 to 2030.
- In terms of segment, consulting was the largest revenue generating services in 2023.
- Regulatory Affairs is the most lucrative services segment registering the fastest growth during the forecast period.
Biotechnology and pharmaceutical services outsourcing market data book summary
| Market revenue in 2023 | USD 487.1 million |
| Market revenue in 2030 | USD 648.5 million |
| Growth rate | 4.2% (CAGR from 2023 to 2030) |
| Largest segment | Consulting |
| Fastest growing segment | Regulatory Affairs |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Consulting, Regulatory Affairs, Product Design & Development, Auditing and Assessment, Product Maintenance, Training & Education |
| Key market players worldwide | PAREXEL, IQVIA Holdings Inc, Heidelberg Materials AG, Labcorp Holdings Inc, Charles River Laboratories International Inc, Icon PLC, Syneos Health, Lonza Group Ltd, Catalent Inc, Samsung BioLogics |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 1.1% of the global biotechnology and pharmaceutical services outsourcing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia biotechnology and pharmaceutical services outsourcing market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 293.0 million by 2030.
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Biotechnology And Pharmaceutical Services Outsourcing Market Scope
Biotechnology And Pharmaceutical Services Outsourcing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia biotechnology and pharmaceutical services outsourcing market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biotechnology and pharmaceutical services outsourcing market will help companies and investors design strategic landscapes.
Consulting was the largest segment with a revenue share of 56.21% in 2023. Horizon Databook has segmented the Saudi Arabia biotechnology and pharmaceutical services outsourcing market based on consulting, regulatory affairs, product design & development, auditing and assessment, product maintenance, training & education covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia held a 18.85% share of the MEA market in 2023, which can be attributed to the increasing innovation for new drugs, growing awareness about the benefits of biotechnology & pharmaceutical medications, and rising investments in R&D.
Furthermore, the biotechnology & pharmaceutical outsourcing services help avoid the costs of recruitment, training, and retention of specialized staff for drug innovation in Saudi Arabia.
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Target buyers of Saudi Arabia biotechnology and pharmaceutical services outsourcing market databook
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Our clientele includes a mix of biotechnology and pharmaceutical services outsourcing market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia biotechnology and pharmaceutical services outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia biotechnology and pharmaceutical services outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia biotechnology and pharmaceutical services outsourcing market size, by services, 2018-2030 (US$M)
Saudi Arabia Biotechnology And Pharmaceutical Services Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
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