Market Research Report
Biopharmaceuticals Contract Manufacturing Market Size, Share & Trends Analysis Report By Source (Mammalian, Non-mammalian), By Product (Biologics, Biosimilars), By Service (Process Development), And Segment Forecasts, 2021 - 2028
|Biopharmaceuticals Contract Manufacturing Market Size, Share & Trends Analysis Report By Source (Mammalian, Non-mammalian), By Product (Biologics, Biosimilars), By Service (Process Development), And Segment Forecasts, 2021 - 2028|
Published: January 20, 2021
Grand View Research, Inc.
Content info: 139 Pages
Delivery time: 2-10 business days
Biopharmaceuticals Contract Manufacturing Market Growth & Trends
The global biopharmaceuticals contract manufacturing market size is expected to reach USD 25.1 billion by 2028 registering a CAGR of 5.7%, according to a new report by Grand View Research, Inc. Growing biopharmaceutical pipeline and lack of adequate manufacturing capabilities are two key factors that are driving partnership between large molecule manufacturers and Contract Manufacturing Organizations (CMOs). Contract manufacturers are engaged in broadening their service portfolio to meet the company demands with respect to regulatory standards and new services.
The reliance of companies on CMOs for the production of biologics and biosimilars is expected to rise over the forecast period as a consequence of changes adopted by the CMOs. This is evident through growing investment in collaborations of companies with CMOs as well as continuous efforts taken up for expanding the service portfolio.
The supply chain of biopharmaceuticals remained robust and was largely unaffected worldwide during the coronavirus outburst. Also, biopharmaceutical contract manufacturers are observing increased demand related to the Covid-19 vaccine and therapeutics. Thus, the future holds numerous opportunities for the global market. For instance, in 2020, AstraZeneca and Oxford Biomedica signed a one-year clinical and commercial supply agreement for the manufacturing of AstraZeneca's Covid-19 vaccine candidate, AZD1222.
The future growth of CMOs is highly dependent on the promising opportunities offered by the biopharmaceutical industry, the bioprocessing industry, and the contract service industry. Expansion of fill-and-finish services and increasing robustness of venture capital investments for the life science sector are two important opportunities that are anticipated to drive the market. For instance, in 2019, Shanghai HaiHe Biopharma Co. Ltd. raised USD 146.6 million as venture capital for its large cancer drug portfolio, which they shall utilize along with their outsourcing partner Zhejiang Jiuzhou Pharmaceutical Co., Ltd.
Biopharmaceuticals Contract Manufacturing Market Report Highlights
Mammalian-based biopharmaceutical contract manufacturing captured the largest market share of over 59% in 2020 owing to the high penetration of mammalian expression system for biologics development
Out of all the services offered in this market, process development contributed to the largest share in 2020 owing to high capital investment, especially in the downstream process
The complexities associated with regulatory approval and good manufacturing practice pronounces the demand for the established contract manufacturers to ensure compliance with regulatory standards
The biologics contract manufacturing segment dominated the global market in 2020 owing to higher demand for biologics production
However, the biosimilar segment is estimated to register the fastest CAGR from 2021 to 2028 due to cost-saving advantages associated with biosimilars development
North America was the dominant regional market in 2020 due to the presence of an effective regulatory framework for biologics development in the U.S.
However, Asia Pacific is expected to emerge as the fastest-growing regional market from 2021 to 2028 owing to emerging countries, such as India and China, incorporating developments to sustain the competition
Several international companies are seeking outsourcing of biopharmaceutical production to Asian countries owing to the continuous expansion of Asian CMOs that offer services at a less price, as compared to the service providers based in western countries
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