According to The Insight Partners market research study of ‘Biopharmaceuticals Contract Manufacturing Market to 2027 – Global Analysis and Forecasts by Product, and Service.’ The global biopharmaceuticals contract manufacturing market is expected to reach US$ 25,497.26Mn in 2027 from 13,727.13Mn in 2019. The market is estimated to grow with a CAGR of 8.2% from 2020-2027. The report provides trends prevailing in the global biopharmaceuticals contract manufacturing market and the factors driving market along with those that act as hindrances.
The global biopharmaceuticals contract manufacturing market, based on the product, is segmented into biologics and biosimilars. The biologics segment held the largest share of the market in 2019. Whereas, the biosimilar segment is estimated to register the highest CAGR in the market during the forecast period owing to increasing demand of biologics, increasing research activities in niche markets and growing biologics pipeline. Moreover, many big pharmaceutical companies prefer contract manufacturers to scale up their production and manage operating expenses.
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Leading companies operating in the biopharmaceuticals contract manufacturing marketare Lonza Group AG, Boehringer Ingelheim International GmbH, Inno Biologics Ventures Sdn Bhd,Thermo Fisher Scientific, AbbVie Inc., and WuXi Biologics, General Electric, Samsung Biologics, Merck KGaA, Ajinomoto Co., Inc. among others.
The biopharmaceuticals contract manufacturing market is expected to grow, owing to the increasing outsourcing by pharmaceutical companies, growing biologics pipeline and growth in emerging markets. However, increasing competition among contract manufacturers is expected to restraint the growth of the market during the forecast years.
The report segments global Biopharmaceuticals Contract Manufacturing market as follows:
Global Biopharmaceuticals Contract Manufacturing Market – By Product
- Monoclonal Antibodies
- Recombinant Proteins
Global Biopharmaceuticals Contract Manufacturing Market – By Service
- Development Process
- Final Dosage Operation
- Analytical and Quality Control
- Final Packaging
Global Biopharmaceuticals Contract Manufacturing Market– By Geography
- North America
- Asia Pacific (APAC)
- South Korea
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- South & Central America (SCAM)
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