Biopharmaceutical Contract Manufacturing Market 2020 To Forecast 2026 By Major Key Players – Thermo Fisher Scientific, Lonza Group AG, Boehringer Ingelheim International GmbH, Inno Biologics Ventures Sdn Bhd, AbbVie Inc
Pune, Maharashtra, India, January 11 2021 (Wiredrelease) Brandessence Market Research and Consulting Pvt ltd –:Global Biopharmaceutical Contract Manufacturing Market is valued at USD 12.13 Billion in 2018 and expected to reach USD 21.01 Billion by 2025 with the CAGR of 8.17% over the forecast period.
Increasing development of biologic drugs to achieve goals toward commercialization, rapid expansion of the biologics’ markets and continuous rising outsourcing activities by biopharmaceutical companies of non-core businesses are major factors driving the growth of the Global Biopharmaceutical Contract Manufacturing Market.
Scope of the Global Biopharmaceutical Contract Manufacturing Market Report:
Contract manufacturing includes the production of goods by firms, under their own brand name or label of another firm. Contract manufacturers offer services to numerous bio firms based on their own or consumers’ designs and specifications. From big bio pharmaceutical to smaller pharma, contract manufacturing helps to build strategy for various industry players. Biopharmaceutical companies are increasingly depending on contract manufacturing to meet basic needs and specialized competencies. The companies are focusing on saving costs and product development time while improving efficiency and productivity. Using contract manufacturing helps bio-pharmaceutical companies to achieve their corporate goals by saving valuable resources that would require for capital investment in facilities and equipment. Furthermore, contract manufacturing has several advantages such as rapid development of innovative drugs and faster launch of clinical and commercial products.
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Global Biopharmaceutical Contract Manufacturing Market is segmented on the basis of therapeutic area, product, application and by region & country level. By therapeutic area, the market is classified into autoimmune diseases, oncology, metabolic diseases, ophthalmology, cardiovascular diseases, infectious diseases, neurology, respiratory disorders and others. Based on product, the market is classified into biologics (monoclonal antibodies, recombinant hormones, vaccines and others) and biosimilars. On the basis of application, the market is classified into clinical, commercial, active pharmaceutical ingredient (API) and finish product.
The regions covered in this biopharmaceutical contract manufacturing market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of biopharmaceutical contract manufacturing market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Biopharmaceutical Contract Manufacturing Companies:
Key players of the biopharmaceutical contract manufacturing market are,
Thermo Fisher Scientific Lonza Group AG Boehringer Ingelheim International GmbH Inno Biologics Ventures Sdn Bhd AbbVie Inc Wuxi Biologics General Electric
Global Biopharmaceutical Contract Manufacturing Market Dynamics-
Increasing development of biologic drugs to achieve goals toward commercialization, rapid expansion of the biologics markets and continuous rise in outsourcing activities by biopharmaceutical companies of non-core businesses are some of the major factors contributing to an increased demand of the biopharmaceutical contract manufacturing. For example; Small to medium sized pharmaceutical and biotech companies are aiming to bring 50% of new drug molecules to market in the coming years. It is estimated that, the total outsourced manufacturing market reached around USD 70.16 billion in 2015 growing at a 6.2%. Currently, biotechnology companies are constantly outsourcing contract manufacturing organizations (CMOs) in order to meet their fill-and-finish operations and reduce risk. In addition, other key factors driving the market growth include significant efforts have taken by biopharmaceutical industry players to cut costs as well as increasing biotech firms that do not have in-house manufacturing capabilities. However, lack of skilled professionals and intense competition may obstruct the growth of this market.
North America is expected to dominate the Global Biopharmaceutical Contract Manufacturing Market
North America holds the major market share of the biopharmaceutical contract manufacturing due to the existence of leading biopharmaceutical industry players along with the advanced manufacturing capabilities, high R&D investments and favorable government policies in this region. For example; the overall economic impact of the biopharmaceutical industry on the U.S. economy keeps growing at a significant pace. The biopharmaceutical industry accounted for around USD 1.2 trillion in economic output, represented 3.8 % of total U.S. output in 2014.
Global Biopharmaceutical Contract Manufacturing Market Segmentation:–
By Therapeutic Area: Autoimmune Diseases, Oncology, Metabolic Diseases, Ophthalmology, Cardiovascular Diseases, Infectious Diseases, Neurology, Respiratory Disorders, Others
By Product: Biologics (Monoclonal Antibodies, Recombinant Proteins, Vaccines, Others), Biosimilars
By Application: Clinical, Commercial, Active Pharmaceutical Ingredient (API), Finish Product
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