Functional Service Providers (FSP) Market to reach USD 30.70 billion by 2032 at a CAGR of 8.56%
The Functional Service Provider (FSP) market is expanding rapidly, driven by several key factors related to the evolving demands of the global clinical trials industry. One of the major reasons for the market\'s growth is the increasing complexity and scope of clinical research. As pharmaceutical and biotech companies face the challenges of managing larger, more intricate trials—often across multiple regions—they are turning to FSPs to streamline their operations. FSPs provide access to specialized expertise in areas such as clinical monitoring, data management, regulatory affairs, and pharmacovigilance without the need for companies to expand their in-house teams.