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.
Driving factors of the biopharmaceuticals contract manufacturing market are demand of cost effective manufacturing alternatives, companies focusing on core capabilities, growing demand of niche therapies and pressure to reduce operational costs. However, increasing stringent regulatory requirements and competition are hindering the growth of the market.
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The contract manufacturing organization (CMO) offers numerous benefits to pharmaceutical companies, including reducing investments in facilities, drug development costs, thereby improves net cash flow. Outsourcing is cheaper and increases the efficiency of manufacturing processes. Also, it allows pharmaceutical and biotechnology companies to redirect resources to other areas. A few years ago, the CMO industry was a niche service market, offering additional manufacturing capacity or specific services to pharmaceutical companies. The rise of the CMOs was fueled by the increasing number of drug manufacturing failures. In the past, pharmaceutical companies had dedicated manufacturing facilities for innovative drugs in development. However, to reduce the risk of overcapacities, the demand for manufacturing outsourcing has been rising continuously.
The global biopharmaceuticals contract manufacturing market is segmented by product, and service. The biopharmaceuticals contract manufacturing market, by product, is segmented into biologics and biosimilars. The biologics segment held the largest share of the market in 2019, whereas the biosimilar segment is anticipated to register the highest CAGR in the market during the forecast period. Based on service, the market is segmented into development process, final dosage operations, and final packaging. The development process held the largest share of the market in 2019, whereas analytical and quality control segment is estimated to register the highest CAGR in the market during the forecast period.
The major manufacturers covered in this report: Boehringer Ingelheim International GmbH, THERMO FISHER SCIENTIFIC INC., General Electric Company, MERCK KGAA, Lonza, Samsung Biologics., AbbVie Inc., WUXI BIOLOGICS, Ajinomoto Co. Inc., Inno Bio Ventures Sdn Bhd,
Scope of the report:
This research evaluates micro-markets and takes a closer look at the different growth trends, future prospects and regulations that will regulate the industry in the coming years. Researchers have also included a few top performers in the sector to calculate their industry shares and core competencies. The research explains technological developments in the sector along with upcoming areas of the industry that might potentially attract massive investments.
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Most important Products of Biopharmaceutical Contract Manufacturing covered in this report are:
Most important Service of Biopharmaceutical Contract Manufacturing covered in this report are:
- Development Process
- Final Dosage Operation
- Analytical and Quality Control
- Final Packaging
Key points from Table of Content:
- Biopharmaceutical Contract Manufacturing Market – Key Takeaways
- Research Methodology
- Biopharmaceutical Contract Manufacturing – Market Landscape
- Biopharmaceuticals Contract Manufacturing Market – Industry Dynamics
- Biopharmaceutical Contract Manufacturing Market – Global Analysis
- Biopharmaceuticals Contract Manufacturing Market Analysis – By Product
- Biopharmaceuticals Contract Manufacturing Market – By Service
- Biopharmaceutical Contract Manufacturing Market – Geographic Analysis
- Impact of COVID-19 Pandemic on Biopharmaceutical Contract Manufacturing Market
- Biopharmaceutical Contract Manufacturing Market – Industry Landscape
- Company Profiles
Scope of the study:
- The report conducts a detailed analysis of the evolving market dynamics
- It gives a holistic view of various drivers and restraints operating in the market
- The forecast spans 6 years and predicts the prospective progress of the sector
- It categorizes the prominent product segments and their future growth scenario
- The market insights derived after a thorough investigation of the industrial segments and subsegments enable readers make informed decisions.
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Name: Sameer Joshi
Email: [email protected]