Future Market Growth from Pharma/Bio has Benefitted from the Increasing Reliance on CROs and CMOs for Scale-Up
Using the right laboratory instrumentation at the right time is crucial to the process of drug discovery and development. Life science and analytical instrumentation facilitates R&D involving in a wide variety of workflows throughout early discovery, biomarker identification, clinical trials, translational research, and quality control testing throughout the development of new therapeutic products. The inherent need for precise and accurate data on pharmaceutical and biotherapeutic compounds throughout their development, combined with the stringent regulatory environment, ensures that laboratory testing of these materials sits at the forefront of analytical science and innovation.
Most of these drug development activities reside within pharmaceutical, biopharmaceutical, and contract research organizations, which comprises a significant portion of the overall market for laboratory instrumentation. For the companies that supply these analytical tools, demand from the pharma/bio sector has been a stable engine of growth over the last couple of decades. Future market growth from pharma/bio has benefitted from the expansion of viable therapeutic modalities, especially as analytical techniques evolve to accommodate regenerative and precision medicines, high throughput screening, automation, and increasing reliance on CROs and CMOs for scale-up.
The 2021 Pharma/Bio Report is an in-depth examination at the major technologies used in the pharma/bio sector, encompassing 50 technologies in 9 categories. The report examines historical growth and provides forecasts for demand over the next five years. This report focuses on delivering insights into phases of discovery, therapeutic focus, and the challenges being faced in therapeutics development.
