Biopharmaceuticals contract manufacturing refers to pharmaceutical companies outsourcing the development and manufacturing of drugs. CMOs have become a known name among pharmaceutical companies due to their cost effective services. The CMOs offer a wide range of services including research and development, analytical services and final dosage preparation and packaging. Moreover, growing biopharma industry is offering lucrative opportunities for the growth of the market. The growth of the Biopharmaceuticals Contract Manufacturing market is attributed to the some key driving factors such as increase demand of biologics, growing biosimilar pipeline, stringent regulation and increasing outsourcing activities. However, increasing competition in the industry is expected to restraint the growth of the market during the forecast years.
The biopharmaceuticals contract manufacturing market was valued at US$ 13,727.13 million in 2019 and is expected to grow at a CAGR of 8.2% from 2020 to 2027 to reach US$ 25,497.26 million by 2027.
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Some of the Major Market Players Are:
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.
Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Biopharmaceuticals Contract Manufacturing Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.
Based on product, biopharmaceuticals contract manufacturing market is segmented into biosimilar and biologics. The biologics segment held the largest share of the market in 2019 owing to increasing demand for biologics, increasing research, and development activities to develop new drugs for chronic indications in the forecast period. The market for biosimilar is expected to register the highest CAGR in the market during the forecast period due to patent expiration of blockbuster drugs and increasing pipeline.
The outsourcing is required to expedite research and development, speed up market entry, give access to novel technologies, regulatory expertise, and reduces risks at a competitive cost. Complexities in biologics development and production and increasingly stringent quality standards have driven drug manufactures to prefer contract manufacturer services. Moreover, many companies are opting CMOs services to speed up the development process and lower production costs. For instance, in 2019, Dyadic International, Inc. agreed with Luina Bio Pty Ltd for the development and commercialization of its specific targeted antigen and biological products.
- This report is a business analysis that examines market trends for Biopharmaceuticals Contract Manufacturing. The report includes sections on the following topics
- Current prevalence of Biopharmaceuticals Contract Manufacturing, trend analysis and factors influencing future incidence.
- Market analysis by treatment type, including annual incidence and trend analysis.
- Risk factors and other drivers that may impact the future incidence of Biopharmaceuticals Contract Manufacturing.
- Review of the major market opportunities by identifying specific high-growth and emerging market opportunities.
- Market share and information on key market players.
- Analysis and forecast of the revenues for Biopharmaceuticals Contract Manufacturing for the global market, major market subsegments subdivided by geographic region and further, by selected country.
- Detailed review of the current products, their indications for all identified market segments.
- Profile of the individual market subsegments within the major market segments analyzed and the distinguishing features of each of the market subsegments.
- Detailed overview of the Biopharmaceuticals Contract Manufacturing and corresponding global markets
- Country specific data and analysis for France, Germany, Italy, U.K., Spain, Russia, India, China, Japan, United States, Canada, Middle East and Africa
- Evaluation of market dynamics with a focus on increasing prevalence of Biopharmaceuticals Contract Manufacturing cases, technological advancements
- A look into regulatory environment, new products launces and technological advancements, and current strategies within the market
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