Houlihan Lokey – Pharma Services and Technology Market Update, 2025
Summary
The report focuses on the pharma services and technology sector, which includes outsourced service providers that support life sciences companies in discovering, researching, manufacturing, and commercializing novel therapies.
Momentum and growth in pharma services and technology businesses have picked up in 2025, driven by sustained R&D spending, a strong outlook for drug approvals, and increasing demand for specialized outsourced capabilities. Despite macroeconomic uncertainties and policy changes, the sector remains resilient with increased private equity and strategic buyer interest, supported by structural tailwinds such as innovative product complexity, real-world data use, AI tools, and commercial complexity.
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