By: Meenakshi L --
29 September, 2015
Agri R&D externalization is increasing, driving the contract research market. The market is witnessing a plethora of activities including mergers, acquisitions, expansions and network partnerships, all in a bid to become one-stop-shop/integrated service provider. This article attempts to review the entire of externalized market, focusing on the segments that are impacted by revival of other end user segments such as pharmaceutical and biopharmaceutical industry.
Globally, Agriculture is receiving increasing attention as government and non-government establishments comprehend a need to accelerate productivity in order to ensure food security and improved nutrition to a growing population. By 2050, there would be an increased food requirement driven mainly by increase in population to more than 9 billion and a focus on improved diets, particularly in emerging markets. With growing population, the major thrust to provide health and nutrition lies on the higher yield from agriculture. This is driving research to develop better crop protection agents and seed traits, both conventional and biotechnology based.
However, the cost of developing a crop protection agent or seed trait is also on rise. The agrochemical and crop protection companies are increasingly opting for externalization of various services across the value chain to bring in cost efficiencies and innovation through partnerships with CROs, Consultancies and Academia.
Author: Meenakshi L
LiVE Event: Category Management For Procurement Professionals