Biotechnology & Pharmaceutical Services Market Set to Surge from USD 76.51 Bn in 2024 to USD 130.56 Bn by 2034 at 5.48% CAGR

The global biotechnology & pharmaceutical services market size is calculated at USD 80.7 billion in 2025 and is expected to reach around USD 130.56 billion by 2034, growing at a CAGR of 5.48% for the forecasted period.

Ottawa, Sept. 29, 2025 (GLOBE NEWSWIRE) -- The global biotechnology & pharmaceutical services market size was valued at USD 76.51 billion in 2024 and is predicted to hit around USD 130.56 billion by 2034, rising at a 5.48% CAGR, a study published by Towards Healthcare a sister firm of Precedence Research.

The growth of the market is driven by the growing demand for advanced therapies and technological advances, which are supported by increased research and development investments, which drive the growth of the market.

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Key Takeaways

North America held the dominating revenue share of the market in 2024.
Asia Pacific is expected to be the fastest-growing region in the projected period.
By service, the consultancy segment led the biotechnology & pharmaceutical services market in 2024.
By service, the regulatory affairs segment is expected to grow at the fastest CAGR in the upcoming years.
By end use, the pharmaceutical companies segment dominated the market in 2024.
By end use, the biotechnology companies segment is expected to grow fastest during the forecast period.

Market Overview & Potential

Basically, biotechnology and pharmaceuticals are two main domains in which products are either obtained from biological or synthetic sources. Nowadays, enormous technological advances in biological systems and the pharmaceutical field produce various products, including drug development, diagnostics, etc. The rising adoption of novel breakthroughs in R&D and regulatory considerations is boosting the expansion of the biotechnology & pharmaceutical services market. Both services are emphasizing the development of targeted drug therapies and personalized medicines, which have been showing raised demand in this growing market.

Market Scope

Metric	Details
Market Size in 2025	USD 80.7 Billion
Projected Market Size in 2034	USD 130.56 Billion
CAGR (2025 - 2034)	5.48	%
Leading Region	North America
Market Segmentation	By Service, By End Use, By Region
Top Key Players	Parexel International Corporation, The Quantic Group, IQVIA, Lachman Consultant Services, Inc., GMP Pharmaceuticals Pty Ltd., Concept Heidelberg GmbH, LabCorp, Charles River Laboratories, ICON plc., Syneos Health, Lonza, Catalent Inc., Samsung Biologics, Eurofins Scientific, WuXi AppTec, Novotech, Thermo Fisher Scientific Inc.

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What Is The Growth Potential Responsible For The Growth Of The Biotechnology & Pharmaceutical Services Market?

The growth of the market is driven by the growing demand for advanced therapies, such as innovation in biotechnological solutions like precision medicine, targeted treatment, complex antibody drug conjugates, and cell and gene therapies, which drives the growth and demand for the market. The technological advancement, such as the integration of AI, machine learning, big data analytics, and bioinformatics for drug discovery and development, further increases the demand for the market. The increased research and development investments in the development of innovation in drugs and therapies lead to greater demand for the market, which supports the growth and expansion of the market.

What Are The Growing Trends Associated With The Biotechnology & Pharmaceutical Services Market?

Focus on New Treatment Modalities:

The market is experiencing growth driven by increased research into novel and complex treatment modalities, requiring specialized expertise and services.

Strategic Collaborations:

Partnerships and collaborations between companies are a key driver, facilitating innovation and market expansion.

Rise of Regulatory Affairs Services:

Growing complexity in regulations and evolving compliance standards are fueling the demand for regulatory affairs consulting and services.

Integration of Advanced Technologies:

The adoption of Artificial Intelligence (AI), Big Data, and Machine Learning is transforming drug discovery and development, requiring high-performance cloud infrastructure and driving market demand.

Patient-Centric Approaches:

There is an increasing focus on patient-centric models in drug development and service provision, influencing market strategies and offerings.

What Is The Growing Challenge In The Biotechnology & Pharmaceutical Services Market?

Key challenges in the biotechnology and pharmaceutical services market include strict and evolving regulatory requirements, high drug development costs and funding issues, the need to safeguard sensitive intellectual property (IP), shortages of skilled talent, complex manufacturing processes, rising supply chain vulnerabilities, and pressures on drug pricing. Additionally, cybersecurity threats, geopolitical tensions impacting supply chains, and ethical issues further complicate the market.

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Regional Analysis

How Did North America Dominate The Biotechnology & Pharmaceutical Services Market In 2024?

North America leads the biotechnology and pharmaceutical services market due to its strong presence of leading pharmaceutical and biotech firms, advanced healthcare infrastructure, and a favorable regulatory environment. The U.S., in particular, has a high demand for consultancy and regulatory services, driven by continuous innovation in biologics, biosimilars, and precision medicine. Stringent FDA regulations create strong opportunities for specialized regulatory service providers. Additionally, the growing trend of outsourcing services to reduce costs and accelerate product approvals further strengthens market growth in the region.

What Made The Asia Pacific Significantly Grow In The Biotechnology & Pharmaceutical Services Market In 2024?

Asia Pacific is emerging as a rapidly growing market for biotechnology and pharmaceutical services, supported by expanding pharmaceutical manufacturing hubs in India, China, and South Korea. Rising investments in R&D, clinical trials, and drug development outsourcing are key drivers in the region. Favorable government policies, lower operational costs, and growing demand for affordable healthcare solutions encourage both local and global companies to rely on consultancy and regulatory service providers. Increasing innovation in biosimilars and generics further propels market growth across the Asia Pacific.

Segmental Insights

By Service,

The consultancy segment led the biotechnology & pharmaceutical services market in 2024. Consultancy services play a vital role in guiding biotechnology and pharmaceutical companies through market entry, product development, and clinical trials. As the industry faces intense competition, regulatory complexity, and rising R&D costs, consultancy firms help businesses streamline processes, reduce time-to-market, and maximize returns on investment. The increasing demand for personalized medicines, biologics, and advanced therapies has further accelerated the need for specialized consultancy expertise in the sector.

The regulatory affairs segment is expected to grow at the fastest CAGR in the upcoming years. Regulatory affairs services are essential in ensuring compliance with national and international standards for biotechnology and pharmaceutical products. These services cover regulatory submissions, clinical trial approvals, product labeling, and post-market surveillance. With evolving global regulations and strict requirements from agencies such as the FDA and EMA, companies rely on regulatory service providers to navigate complex frameworks and avoid costly delays. Growing innovation in biologics, biosimilars, and gene therapies is further fueling the demand for robust regulatory support to achieve faster and safer product approvals.

By End Use,

The pharmaceutical companies segment dominated the market in 2024. Pharmaceutical companies constitute a significant end-user group for biotechnology and pharmaceutical services. They increasingly depend on external service providers for consultancy, regulatory compliance, and strategic market expansion. With the rising importance of specialty drugs, biologics, and complex therapies, pharmaceutical firms are outsourcing key services to enhance efficiency, reduce operational risks, and accelerate product commercialization in competitive global markets.

The biotechnology companies segment is expected to grow fastest during the forecast period. Biotechnology companies are highly research-driven and depend heavily on consultancy and regulatory services to bring innovative therapies to market. Given the rise of advanced therapies such as cell and gene therapies, biotech firms face unique challenges in regulatory approval and commercialization, making service providers crucial partners. Outsourcing also enables them to focus on core innovation while ensuring compliance and efficient product development cycles.

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Recent Developments

In November 2024, Thermo Fisher Accelerator announced its expansion in “360°” CDMO and CRO drug development solutions. Kane, PhD, executive director, global head of technical and scientific affairs at Thermo Fisher Scientific, stated that the Accelerator integrates and boosts services long provided by both PPD and Patheon. (Source - GEN)

In September 2024, Riverside Partners, LLC, a Boston-based private equity firm, announced the planned partnership with Sequoia Biotech Consulting, a leading life sciences service provider, to deliver highly efficient therapeutics and Syner-G BioPharma Group, to develop a leading Pharma Services Business. Craig Stern, General Partner at Riverside, commented that they are pleased by this announcement of acquiring an engineered strategic combination of Sequoia and Syner-G to provide full lifecycle solutions to the pharma, biotech, and medical device areas.

Biotechnology and Pharmaceutical Services Market Key Players List

Parexel International Corporation
The Quantic Group
IQVIA
Lachman Consultant Services, Inc.
GMP Pharmaceuticals Pty Ltd.
Concept Heidelberg GmbH
LabCorp
Charles River Laboratories
ICON plc.
Syneos Health
Lonza
Catalent Inc.
Samsung Biologics
Eurofins Scientific
WuXi AppTec
Novotech
Thermo Fisher Scientific Inc.

Browse More Insights of Towards Healthcare:

The global pharmaceutical stability & storage services market is valued at US$ 3.4 billion in 2024, expected to rise to US$ 3.59 billion in 2025, and projected to reach approximately US$ 5.92 billion by 2034, expanding at a CAGR of 5.7% (2025–2034).
The cell and gene therapy (CGT) pharmaceuticals market recorded US$ 16.75 billion in 2024, is set to grow to US$ 19.91 billion in 2025, and is anticipated to hit nearly US$ 91.56 billion by 2034, advancing at an impressive CAGR of 18.93% over the forecast period.
The pharmaceutical drying equipment market generated US$ 5.84 billion in 2024, increased to US$ 6.26 billion in 2025, and is projected to achieve around US$ 11.64 billion by 2034, growing at a CAGR of 7.14%.
The pharmaceutical metal detector market is valued at US$ 160.04 million in 2024, forecasted to grow to US$ 167.51 million in 2025, and expected to reach US$ 252.66 million by 2034, progressing at a CAGR of 4.67%.
The pharmaceutical inspection machines market stood at US$ 0.96 billion in 2024, grew to US$ 1.04 billion in 2025, and is estimated to reach about US$ 1.96 billion by 2034, registering a CAGR of 7.56%.
The U.S. oncology pharmaceuticals market is on a strong upward trajectory, projected to generate significant revenue growth through the 2025–2034 period.
The pharmaceutical testing services market is valued at US$ 4.27 billion in 2024, rising to US$ 4.72 billion in 2025, and expected to reach nearly US$ 11.58 billion by 2034, growing at a CAGR of 10.54%.
The liquid filtration for pharmaceutical market is advancing rapidly on a global scale, with revenue potential expected to reach hundreds of millions of dollars between 2025 and 2034.
The pharmaceutical spray drying market is valued at US$ 2.37 billion in 2024, rising to US$ 2.55 billion in 2025, and forecasted to reach around US$ 4.93 billion by 2034, expanding at a CAGR of 7.67%.
The cold chain pharmaceuticals market generated US$ 6.42 billion in 2024, grew to US$ 6.67 billion in 2025, and is projected to achieve nearly US$ 9.33 billion by 2034, with a CAGR of 3.83%.

Segments Covered in The Report

By Region

North America
- U.S.
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
Latin America
- Brazil
- Mexico
- Argentina
Middle East and Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Kuwait

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About Us

Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics, with a strong emphasis on life science research. Dedicated to advancing innovation in the life sciences sector, we build strategic partnerships that generate actionable insights and transformative breakthroughs. As a global strategy consulting firm, we empower life science leaders to gain a competitive edge, drive research excellence, and accelerate sustainable growth.

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