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Biopharmaceutical Contract Market: Strong Pipeline to Rapidly Surge Growth

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Ganesh Shinde
Biopharmaceutical Contract Market: Strong Pipeline to Rapidly Surge Growth

The global Biopharmaceutical Contract Manufacturing Market is expected to be worth approximately US$ 8.4 billion in 2021, with a CAGR of 10.5% to reach US$ 18.7 billion by 2029.

Biopharmaceutical manufacturing companies provide advantages such as reduced overall time to market investment in new drugs, access to expensive technologies, and greater flexibility. Because of these factors, a number of large corporations have outsourced their biopharmaceutical manufacturing operations. Contract manufacturing of biopharmaceuticals is highly preferred by biopharmaceutical companies with limited in-house production capacity.

Pharmaceutical companies primarily focus on core competencies and, as a result, do not prefer to take financial risks when formulating the final dose of medicines. This is expected to accelerate the growth of the global biopharmaceutical contract manufacturing market, which is expected to be worth US$ 18.7 billion by 2029.

Key Market Segments Covered in Biopharmaceutical Contract Manufacturing Industry Research:

By Platform Type:

  • Mammalian Based
  • Microbial Based

By Product Type:

  • Monoclonal Antibodies
  • Recombinant Protein
  • Vaccine
  • Insulin
  • Growth factor
  • Interferons
  • Others

By Application Type:

  • Clinical
  • Commercial

By Therapeutic Area Type:

  • Autoimmune Diseases
  • Oncology
  • Metabolic Diseases
  • Ophthalmology
  • Cardiovascular Diseases
  • Infectious Diseases
  • Neurology
  • Respiratory Disorders
  • Others

Key Takeaways of Biopharmaceutical Contract Manufacturing Market Study

  • Although microbial-based platforms are widely used for pharmaceutical production, mammalian-based cell culture is expected to gain traction during the forecast period due to increased efficiency and rising demand.
  • Due to their superior efficacy and increasing adoption for the treatment of chronic diseases, monoclonal antibodies currently hold a larger share of the biopharmaceutical contract manufacturing market.
  • North America is expected to be the most profitable region in the global biopharmaceutical contract manufacturing market, providing opportunities for market participants.
  • By the end of 2029, commercial applications of biopharmaceutical contract manufacturing are expected to outnumber clinical applications.

Key Market Players:

  • Catalent Inc.
  • Lonza Group Ag
  • Patheon N.V. (Thermo Fisher Scientific Inc.)
  • Abzena Plc.
  • Sandoz International GmbH (Novartis AG)
  • Fujifilm Diosynth Biotechnologies (FUJIFILM Holdings)
  • Baxter Pharmaceutical Solutions LLC (Baxter Inc.)
  • AbbVie Contract Manufacturing (AbbVie Inc.)
  • Samsung Biologics Co. Ltd.
  • ProBioGen AG
  • Pfizer Centre Source Ltd (Pfizer Inc.)
  • Novasep
  • Biomeva GmbH
  • Kbi Biopharma Inc
  • Rentschler Biotechnologie GmbH
  • Ajinomoto Althea Inc. (Ajinomoto Co., Inc.)

Read More@ https://www.futuremarketinsights.com/reports/biopharmaceutical-contract-manufacturing-market

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Ganesh Shinde
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