Global Fill-finish Manufacturing Market is expected to grow at a CAGR of 10.2% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Fill-finish Manufacturing Market by Product (Consumables, Instruments), Application (Solids, Semi-Solids, Liquids), End-User (Contract Manufacturing Organizations, Pharmaceutical & Biopharmaceutical Companies, Others), Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global fill-finish manufacturing market is expected to grow from USD 6.81 billion in 2019 to USD 14.81 billion by 2027, at a CAGR of 10.2% during the forecast period 2020-2027. Europe accounted for the largest share, owing to the emergence of the biosimilar market, rising incidence of chronic disorders, rising focus on major players on growing their presence in the region. The Asia-Pacific region is expected to witness significant growth, owing to rapidly developing economies like India and China, increasing investments by CMOs and rising government support, and growth in the biopharmaceutical industry.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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The product segment includes consumables and instruments. The consumable segment is further segmented into prefilled syringes, vials, cartridges, and other consumables. The prefilled syringes are sub-segmented into glass PFS and plastic PFS. Vials are sub-segmented into glass vials and plastic vials. Instrument segment is further segmented into systems and machine type. Systems segment is sub-segmented into integrated systems and standalone systems. Machine type is sub-segmented into automated machines and semi-automated & manual machines. The consumable segment holds the largest market share, owing to rising demand for prefilled syringes, a wide range of applications of vials in lyophilisation, and increasing use of disposable packaging for biologics. Based on application, the market is segmented into solids, semi-solids, and liquids. Liquids segment holds the largest share, owing to application and usage of liquids like biologics is large as compares to semi-solid or solid products. The end-user segment includes contract manufacturing organizations, pharmaceutical & biopharmaceutical companies, and others. The contract manufacturing organisations segment is expected to witness significant growth, owing to increasing outsourcing of fill-finish manufacturing process, and the growing number of new entrants in the biologics manufacturing market.
The factors driving the market growth are high capital investment in R & D, growing biopharmaceutical industry, increased capital expenditure related to research, and increasing government support for the pharmaceutical and biotechnology industry. The factors restraining the market growth are stringent government regulations and high costs of the system. Technological advancements and untapped markets provide market growth opportunities.
About the report:
The global fill-finish manufacturing market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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- CDN Newswire