PUBLISHER: The Business Research Company | PRODUCT CODE: 1391042
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391042
“Biopharmaceutical CMO Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on biopharmaceutical cmo market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for biopharmaceutical cmo? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The biopharmaceutical cmo market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Biopharmaceutical CMO (Contract Manufacturing Organization) is a business that provides manufacturing services, capable of producing small quantities for preclinical research and development, as well as larger quantities required for clinical trials and commercialization. Biopharmaceutical CMOs play a crucial role in reducing overall operational risk and time to market for pharmaceutical products.
The main types of biopharmaceutical CMO products include biologics and biosimilars. Biologics encompass a diverse range of products derived from human, animal, or microbial sources, serving as medications. These substances are produced from living organisms or contain components thereof. Examples of biologic medications include vaccines, blood products, cells, allergens, genes, tissues, and recombinant proteins. Biopharmaceutical CMO products can be sourced from various origins, including mammalian and non-mammalian sources. Biopharmaceutical CMO services cover a spectrum of activities such as manufacturing, fill and finish operations, analytical and quality control studies, and packaging. These services are crucial for pharmaceutical companies looking to outsource certain aspects of their production processes, allowing them to focus on research, development, and commercialization efforts.
The biopharmaceutical CMO market research report is one of a series of new reports from The Business Research Company that provides biopharmaceutical CMO market statistics, including biopharmaceutical CMO industry global market size, regional shares, competitors with a biopharmaceutical CMO market share, detailed biopharmaceutical CMO market segments, market trends and opportunities, and any further data you may need to thrive in the biopharmaceutical CMO industry. This biopharmaceutical CMO market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The biopharmaceutical cmo market size has grown rapidly in recent years. It will grow from $21.72 billion in 2023 to $24.68 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to several factors, including increasing demand for biopharmaceuticals, globalization of the pharmaceutical industry, a rise in healthcare expenditure, regulatory support for biopharmaceutical development, and increased funding for research.
The biopharmaceutical cmo market size is expected to see rapid growth in the next few years. It will grow to $41.87 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The forecasted growth in the coming period can be attributed to the increasing adoption of telehealth and remote clinical trials, global health initiatives, a rise in disposable income, and advancements in advanced therapies. Key trends in the forecast period include the dominance of advanced therapies, digitalization and Industry 4.0 integration, the adoption of continuous manufacturing processes, and a focus on sustainability and green practices.
An increase in the robustness of venture capital investments in the life science sector is anticipated to drive the growth of the biopharmaceutical Contract Manufacturing Organization (CMO) market. The life sciences sector comprises businesses and organizations engaged in research and development related to living beings. The robustness of venture capital investments reflects the ability of a model, test, or system to function effectively when parameters or assumptions are altered. The surge in venture capital raised in the UK, reaching £1.9 billion between June 1 and August 26, 2021, contributes to a record-breaking total of £4.25 billion ($5.787 billion) Year-to-Date (YTD) in 2021, up from £2.8 billion in 2020. This substantial investment is expected to drive increased manufacturing of biopharmaceuticals, fostering growth in the biopharmaceutical CMO market.
The increasing burden of chronic diseases is poised to fuel the growth of the biopharmaceutical CMO market. Chronic diseases, characterized by prolonged health conditions requiring ongoing medical management, represent a significant global health challenge. Biopharmaceutical CMOs play a crucial role in addressing chronic diseases by expediting drug development, ensuring cost-effective production, and maintaining high-quality standards. According to the National Library of Medicine, the US population aged 50 and older is projected to increase by 61.11% from 137.25 million in 2020 to 221.13 million in 2050, with the number of individuals with at least one chronic disease estimated to rise by 99.5% from 71.522 million in 2020 to 142.66 million by 2050. This growing burden of chronic diseases is a key driver for the biopharmaceutical CMO market.
Technological advancement emerges as a prominent trend in the biopharmaceutical CMO market. Major companies in this sector are focusing on advancing technologies through research and development, leveraging the Internet of Things (IoT). The IoT involves the application of networked sensors and actuators for monitoring and controlling manufacturing environments. The vast amount of data generated by IoT-enabled systems can be analyzed to enhance production efficiency, automate tasks, and enable adaptable manufacturing. In February 2022, M2Cloud and Thales collaborated to develop an IoT-based LTE monitoring system for biopharmaceutical monitoring. This system facilitates real-time monitoring of freezers, refrigerated warehouses, and delivery boxes, ensuring temperature and position information verification. Technological advancements like these contribute to the safety and efficiency of biopharmaceutical product management, driving growth in the biopharmaceutical CMO market.
In the dynamic landscape of the biopharmaceutical Contract Manufacturing Organization (CMO) market, major industry players are strategically pursuing mergers and acquisitions to optimize operations and secure a competitive advantage for revenue growth. Larger pharmaceutical companies are increasingly outsourcing manufacturing activities to specialized CMOs, resulting in a competitive environment characterized by significant players assimilating smaller entities to augment their capabilities and global presence. This strategic shift is primarily motivated by the imperatives of efficiency, cost-effectiveness, and access to cutting-edge technologies. A noteworthy example of this trend is the December 2021 acquisition by Thermo Fisher Scientific of PPD, a prominent global contract research organization, for $17.4 billion, underscoring the industry's inclination towards consolidation.
Demonstrating the trend of consolidation within the biopharmaceutical sector, AstraZeneca, a UK-based innovator in pharmaceuticals, executed the acquisition of Alexion Pharmaceuticals, Inc in July 2021, with the transaction amount remaining undisclosed. This strategic move positions AstraZeneca to expand its manufacturing capabilities, particularly in the realm of medicines for rare diseases. The acquisition strengthens AstraZeneca's scientific footprint in immunology, leveraging Alexion's complement-biology platform and extensive pipeline. Notably, Alexion Pharmaceuticals, Inc., based in the USA, specializes in the development of drugs and therapies catering to individuals affected by rare disorders.
Major companies operating in the biopharmaceutical cmo market include Lonza Group AG, Fujifilm Diosynth Biotechnologies USA Inc., Thermo Fisher Scientific Inc., Samsung BioLogics Co. Ltd., WuXi Biologics Co. Ltd., Lonza Ltd., JRS Pharma Group, CMC Biologics AS, Catalent Inc., Boehringer Ingelheim GmbH, Rentschler Biopharma SE, AGC Biologics Inc., Abzena Ltd., AbbVie Inc., AstraZeneca PLC, Bayer AG, Biogen Inc., Bristol-Myers Squibb Co., Eli Lilly and Company, Gilead Sciences Inc., GlaxoSmithKline PLC, Johnson & Johnson, Merck & Co., Novartis AG, Pfizer Inc., Roche Holding Ag, Sanofi SA, Takeda Pharmaceuticals Co., Teva Pharmaceutical Industries Ltd., Vertex Pharmaceuticals Company, Moderna BioTechnology Company
North America was the largest region in the biopharmaceutical CMO market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biopharmaceutical CMO market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the biopharmaceutical CMO market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The biopharmaceutical CMO market includes revenues earned by entities by process development. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.