PUBLISHER: Grand View Research | PRODUCT CODE: 1301078
PUBLISHER: Grand View Research | PRODUCT CODE: 1301078
The global biologics contract development market size is expected to reach USD 13.8 billion by 2030, expanding at 8.1% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. Key drivers attributed to the growth include rising adoption of advanced technologies by biologics manufacturers, M&A, and clinical trials in developing nations.The market includes organizations that offer services such as the development of cell lines, upstream and downstream processes, analytical methods, and formulations. These organizations specialize in developing and manufacturing stable cell lines that are extensively used in several important applications, including drug screening, gene functional studies, and biologic production.
Growing M&A and collaboration activities between biopharma companies and CDOs are yet another factor assisting in market growth allowing more financial stability and amalgamation of advanced & specialized technologies. For instance, in September 2022, Lonza., collaborated with biotechnology company Touchlight to expand its product portfolio with different sources of DNA for developing mRNA. Touchlight partnered to gain access to Lonza's novel doggybone DNA (dbDNA) technology.
Many biopharma and Pharma companies are increasingly looking to outsource their activities as it helps accelerate the workflow (speed) of the company, provide unique specialized services, decrease drug development costs, and provide expertise. These factors are expected to boost the biologics contract development industry's growth.
During the COVID-19 pandemic, most clinical trials were focused on developing new therapies for treating COVID-19. However, in the post-pandemic period, research is expected to focus on cancer owing to rising incidences. Biologics such as monoclonal antibodies have gained significant popularity in treating cancer. The high potential of biologics in treating cancer and the growing number of cancer studies are likely to support the growth of the market in the coming years.