Fill Finish Manufacturing Market Worth $12.1 Billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 18, 2020 /PRNewswire/ -- According to the new market research report "Fill Finish Manufacturing Market by Product (Consumables (Prefilled Syringes (Glass, Plastic), Vial], Instruments (Systems (Stand alone, Integrated), Machine Type (Automated, Manual))), End User (CMO, Biopharmaceutical Company) - Global Forecast to 2025", published by MarketsandMarkets™, the global Fill-Finish Manufacturing Market size is projected to reach USD 12.1 billion by 2025 from USD 7.5 billion in 2020, at a CAGR of 10.0% during the forecast period.
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The major factors driving the growth of this market include rising technological advancements in fill-finish manufacturing processes, the growth of the biopharmaceutical industry, and the rising adoption of prefilled syringes for parenteral dosage forms.
The consumables segment accounted for the largest share of the fill-finish manufacturing market, by product, in 2019.
Based on products, the fill-finish manufacturing industry is segmented broadly into consumables and instruments. The consumables segment accounted for the largest market share in 2019. The large share and high growth of this segment can primarily be attributed to the rising demand for prefilled syringes, wide applications of vials in lyophilization, and the growing use of disposable packaging for biologics.
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145 – Pages
The integrated systems segment accounted for the largest share of instruments, by systems, in the fill-finish manufacturing market in 2019
Based on systems, the instrument segment is divided into integrated systems and standalone systems. The integrated systems segment dominated the market in 2019. Owing to its benefits over standalone systems, such as increase productivity and high-speed lines performing multiple operations on the same unit, are driving the adoption of integrated systems in fill-finish operations of drugs.
Europe accounted for the largest share of the fill-finish manufacturing market in 2019
The large share of Europe in this market is attributed to factors such as growing focus on the development of biosimilar due to the patent expiry of key biologics products. In addition, well-established reimbursement systems for drugs have further enhanced the demand for biologics among patients by making them affordable to consume, and to fulfill this, biopharmaceutical companies have increased their production volumes and expand production capacities.
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The major companies in the fill-finish manufacturing market are Becton, Dickson and Company (US), Syntegon Technology GmbH (Germany), I.M.A. (Industria Macchine Automatiche) S.p.A. (Italy), Stevanato Group (Italy), West Pharmaceutical Services, Inc. (US), OPTIMA Packaging Group GmbH (Germany), Bausch+Strobel (Germany), Groninger & Co. GmbH (Germany), and Gerresheimer AG (Germany).
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