USD 17.2 billion
Report ID: SQSG35H2019 | Region: Global | Published Date: December, 2022 | Pages: 157
Global Biopharmaceuticals Contract Manufacturing Market was valued at USD 17.2 billion in 2021 and it is expected to reach a value of USD 24.69 billion by 2028, at a CAGR of 5.3% over the forecast period (2022-2028).
The reduction in the investment required to developed new drug product, providing access to highly expensive technologies, greater flexibility, and fast entry of newly innovated products into the global market, are the key factors anticipated to drive the growth of the global biopharmaceuticals contract manufacturing market during the forecast period. For instance, Thermo Fisher Scientific announced about their investment of USD 180 million for constructing a new commercial manufacturing facility in Plainville. The new production facility will enable company to increase its production capacity and allow to fulfill growing consumer demand.
Furthermore, high technological advancements and introduction to new innovations in bioprocessing has paved a way in the progress and development of various contract service providers around the globe by overcoming from several manufacturing concerns like high production cost and need to changeover with every batch. Moreover, acquisitions, mergers, and increasing joint ventures among key market players of the global market has resulted in high growth and demand for these services globally. For instance, in March 2021, Baxter International Inc., has entered into an agreement with Baxter BioPharma Solutions for providing fill/finish sterile manufacturing solutions and supply packaging for around 60-90 million doses of the Moderna COVID-19 vaccine in the year 2021.
Global Market Size
USD 17.2 billion
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Global biopharmaceuticals contract manufacturing market is segmented on the basis of source, service, product type, therapeutic applications, and region. By source, the market is sub-segmented into mammalian and non-mammalian. By service, the market is categorized into process development, fill & finish operations, packaging, and others. By product type, the market is segmented into interferon, monoclonal antibodies, protein, vaccines, vitamins and others. By therapeutic applications the market is segmented into oncology, cardiovascular diseases, and others. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Analysis by Source
By source, the mammalian segment dominated the market and accounted for a significant market share in 2021. An extensive growth in the investigation for usage of various sources and species for biopharmaceutical sector development and improvement are major factors expected to drive the growth of the segment market during the forecast period. Major companies dealing in this segment are AbbVie Contract Manufacturing, AMRI, Avid Bioservices, Boehringer Ingelheim GmbH, and Catalent. Increasing research & development activities by these market players for enhancing productivity and efficiency of biopharmaceutical mammalian source is likely to propel the segment growth at a significant pace over the coming years.
Analysis by Service
By service, the process development segment held the largest market share in 2021 and is expected to maintain its dominance throughout the forecast period owing to high capital expenditure in downstream processing. Additionally, with the growing product and service quality and preventing wastage coupled with the regulatory changes for biopharmaceutical development are likely to have impact the market growth positively. Various new regulations are being introduced by CMOs for the production process of biologics in compliance with several regulatory standards for maintaining product safety and purity.
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Globally, North America region dominated the biopharmaceuticals contract manufacturing with a holding of strong market share in 2021 due to the large number of biomanufacturing facilities in the United States. Additionally, interventions & conferences conducted in the North America for pertinent developing technologies and major issues in applications of biologics for the better treatment of several chronic disorders are likely to fuel the adoption of contract manufacturing services in the region over the coming years.
Furthermore, Asia Pacific is expected to grow at fastest CAGR during the forecast period owing to emergence of the regional market as an attractive outsourcing market for the biomanufacturing of large molecules. In addition, low manufacturing cost and cheap labour cost offered by developing countries like India and China, is also projected to drive the growth and demand of the market in the region. Increasing number of manufacturing facilities opening by international players in the region due to availability of high growth opportunities in the region, is also propelling the market growth and expansion during the forecast period.
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Continuously rising generics demand, rising research & developments activities, and growing investments in advanced technologies are major factors expected to drive the growth of the global biopharmaceuticals market over the forecast period. Moreover, increasing demand for biological therapies and expansion in nuclear medicine sector coupled with the higher emphasis on specialty medicines are some others factors projected to have a positive impact on the global market over the coming years.
Various issues associated with the biopharmaceutical manufacturing process such as labelling issues, packaging issues, and sterilization problems are expected to be the major restraining factors for the growth of the global biopharmaceuticals contract manufacturing market during the forecast period. Additionally, lack of consumer trust and process knowledge are also likely to hamper the market growth in the coming years.
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Global biopharmaceuticals contract manufacturing market is consolidated in nature with the presence of several large market players operating across the globe. And, in terms of market share, top 5 players of the market are dominating the market including Boehringer Ingelheim, JSR Pharma, and Inno Biologics Sdn Bhd. These players are highly focusing on few business developing strategies including collaborations, mergers, new product innovations, and advance technology adoption to expand their geographical presence and product offerings.
Top Player’s Company Profiles
In the last few years, the biopharmaceutical contract manufacturing market has grown significantly owing to the growth in the scientific curiosity in various medical areas in which researchers have been searching and improving cure for fatal diseases. Additionally, increasing popularity of advanced artificial intelligence to analyze patient’s symptoms and help to track other people also with similar symptoms, is likely to create lucrative growth opportunities for the global market over the coming years.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global biopharmaceuticals contract manufacturing market is witnessing a significant growth throughout the forecast period owing to rapid growth in industrialization especially in developing countries such as India and China coupled with the growing adoption of advanced technology across the globe. In addition, growing need for effective medications and several healthcare equipment along with the rising patient population around the world, is contributing significantly to the market growth in the near future. However, high technology development cost and unavailability of innovative manufacturing techniques in low-medium sized economies are projected to hinder the global market expansion during the forecast period.
|Market size value in 2021||USD 17.2 billion|
|Market size value in 2028||USD 24.69 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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For the Global Biopharmaceuticals Contract Manufacturing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Biopharmaceuticals Contract Manufacturing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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