PUBLISHER: The Business Research Company | PRODUCT CODE: 1414054
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414054
“Biopharmaceuticals Contract Manufacturing 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 biopharmaceuticals contract manufacturing 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 biopharmaceuticals contract manufacturing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The biopharmaceuticals contract manufacturing 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 contract manufacturing involves a process where a biopharmaceutical company engages a third-party manufacturer to produce drugs or biologic products on its behalf. This practice is employed when pharmaceutical businesses utilize external facilities to manufacture pharmaceuticals under their brand, akin to private label or third-party production.
The primary products of biopharmaceutical contract manufacturing encompass a range of biologics, monoclonal antibodies (mABs), recombinant proteins, vaccines, antisense, mai, molecular therapy, and biosimilars. Monoclonal antibodies (MABs) are laboratory-engineered proteins designed to mimic the function of antibodies within the human body. These antibodies are derived from mammalian and non-mammalian sources. Services offered in this domain include process development, fill and finish operations, analytical and quality control studies, as well as packaging, catering to both clinical and commercial applications.
The biopharmaceutical contract manufacturing market research report is one of a series of new reports from The Business Research Company that provides biopharmaceutical contract manufacturing optical components market statistics, including biopharmaceutical contract manufacturing optical components industry global market size, regional shares, competitors with a biopharmaceutical contract manufacturing optical components market share, detailed biopharmaceutical contract manufacturing optical components market segments, market trends and opportunities, and any further data you may need to thrive in the biopharmaceutical contract manufacturing optical components industry. This biopharmaceutical contract manufacturing optical components 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 biopharmaceuticals contract manufacturing market size has grown rapidly in recent years. It will grow from $18.31 billion in 2023 to $20.23 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The expansion observed during the historic period can be linked to several factors, including the heightened development of biopharmaceuticals, the pursuit of cost efficiency and risk mitigation strategies, the burgeoning pipeline of biologics, the globalization of the biopharmaceutical industry, and the implementation of flexible manufacturing solutions. These elements collectively contributed to the growth and advancement within the biopharmaceutical sector.
The biopharmaceuticals contract manufacturing market size is expected to see rapid growth in the next few years. It will grow to $29.97 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The anticipated growth in the forecasted period is expected to be driven by several key factors, including the rising trend of outsourcing, the development of biosimilars, the demand for shorter time-to-market requirements, the expansion of global markets, and a dedicated focus on specialized services within the biopharmaceutical industry.
The biopharmaceutical contract manufacturing market is experiencing substantial growth owing to the rising demand for biologics. Biologics, derived from living organisms through biotechnology, present cutting-edge therapies for various diseases. This surge in demand is fueled by an expanding biologics pipeline, the intricate production process, and companies concentrating on core competencies. As evidenced by IQVIA Inc's 2021 report, estimating that by 2021, biologics would represent 34% of medical expenditures in Europe, valuing at €78.6 billion (US $86.29 billion) with a five-year CAGR of 10.5%. Consequently, the escalating need for biologics is steering the growth of the biopharmaceutical contract manufacturing market.
The growth trajectory of the biopharmaceuticals contract manufacturing market is strongly influenced by the increasing number of clinical trials. These trials, crucial for assessing medical interventions, rely on efficient production and supply of investigational drugs facilitated by biopharmaceutical contract manufacturing. As indicated by Xtalks in May 2023, there has been a substantial rise in registered clinical trials globally on ClinicalTrials.gov, reaching 452,604, a significant increase from early 2021's over 365,000. Hence, the upsurge in clinical trials directly propels the biopharmaceuticals contract manufacturing market.
A prominent trend shaping the biopharmaceuticals contract manufacturing market is product innovation. Major industry players are investing in innovative products to maintain their market position. An example is the strategic contract manufacturing agreement between Thermo Fisher Scientific and Elektrofi in February 2023. This collaboration aims to support the commercial production of Elektrofi's pioneering ultra-high concentration subcutaneous products using innovative microparticle technology. This advancement allows patients to self-administer biologics at home, revolutionizing the delivery of crucial medications.
A significant focus within the biopharmaceutical contract manufacturing market is the development of monoclonal antibodies using advanced platforms such as the go-to cell line platform. KBI Biopharma Inc's launch of SUREmAb in September 2023 exemplifies this focus. Leveraging KBI's SUREtechnology Platform, SUREmAb streamlines processes, enabling swift research cell bank development and a rapid transition from DNA to GMP drug substance. The collaboration between KBI Biopharma and Selexis contributed to this operational optimization, enhancing monoclonal antibody development.
In June 2022, Asahi Kasei Medical Co. Ltd., a chemical company based in Japan, successfully acquired Bionova Scientific, LLC, for an undisclosed sum. This strategic acquisition enables Asahi Kasei Medical to broaden its bioprocess business by integrating a biopharmaceutical Contract Development and Manufacturing Organization (CDMO), thereby expanding its reach to a more diverse customer base, including those at the forefront of developing cutting-edge next-generation biopharmaceuticals. Bionova Scientific, LLC, based in the US, specializes in providing contract process development services and Good Manufacturing Practice (GMP)-compliant contract manufacturing services to biopharmaceutical firms.
Major companies operating in the biopharmaceuticals contract manufacturing market report are Boehringer Ingelheim GmbH, Lonza Group Ltd., Inno Biologics Sdn Bhd, Rentschler Biopharma SE, Samsung Biologics Co. Ltd., AGC Biologics, ProBioGen AG, FUJIFILM Diosynth Biotechnologies, Thermo Fisher Scientific Inc., Binex Co. Ltd., AbbVie Inc., Catalent Inc., Pfizer Inc., Merck KGaA, Pressure BioSciences, Novartis International AG, Cambrex Corporation, Emergent BioSolutions Inc., JRS Pharma GmbH & Co. KG, WuXi Biologics, Siegfried Holding AG, Toyobo Co. Ltd., ADMA Biologics Inc., UCB S.A., AstraZeneca PLC, Johnson & Johnson, Takeda Pharmaceutical Company Limited, Shire Pharmaceuticals LLC, Baxter International Inc., Becton Dickinson and Company, Polyphor Ltd., Patheon Inc., Alcami Corporation
North America was the largest region in the biopharmaceutical contract manufacturing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global biopharmaceuticals contract manufacturing market forecast period. The regions covered in the biopharmaceuticals contract manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the biopharmaceuticals contract manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The biopharmaceutical contract manufacturing market includes revenues earned by entities providing services such as formulation development, GMP manufacturing, and supply chain management. 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.