PUBLISHER: TechSci Research | PRODUCT CODE: 1244143
PUBLISHER: TechSci Research | PRODUCT CODE: 1244143
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Global Biosimilar Contract Manufacturing Market is anticipated to witness impressive growth during the forecast period. This can be ascribed to the growing prevalence of various chronic diseases. Additionally, the increasing availability of cancer biosimilars with lowered prices and affordable treatment, along with the growing adoption of cost-effective healthcare systems across the globe, has increased the demand for biosimilar contract manufacturing. Additionally, the growing geriatric population across the globe, susceptible to different kinds of chronic diseases, is further expected to increase the demand for biosimilar contract manufacturing, thereby fuelling market growth through 2028. Besides, growing awareness of new therapy related to oncology and other chronic diseases is further expected to support the biosimilar contract manufacturing market during the forecast period. Furthermore, the impending patent expiry of biological products alongside the launch of new biosimilars and increasing early entry of new players, are further expected to increase the demand for biosimilar contract manufacturing, thereby supporting the market growth. A total of 17 cancer or cancer-related biosimilar products have been approved by the US Food and Drug Administration since 2015.
The increasing incidence of diabetes and easy availability of biosimilars at lower costs over branded insulins are expected to drive the demand for insulin biosimilars' adoption, thereby fuelling the market growth in the forecast period. The increasing demand for monoclonal antibodies is one of the major factors expected to boost market growth. Furthermore, recombinant glycosylated protein biosimilars are used for the treatment of blood disorders, cancers, and infectious diseases. The most commonly occurring autoimmune disorders that can be treated by biosimilars are polyarticular spondylitis, plaque psoriasis, Crohn's disease, and arthritis. These conditions are commonly treated with biosimilars such as adalimumab and etanercept, making them the most preferred therapy for autoimmune disorders. The high rate of these diseases is expected to increase the demand for biosimilars, thus boosting market growth in the forecast period. In 2019, 37.3 million Americans, or 11.3% of the population, had diabetes. Nearly 1.9 million Americans have type 1 diabetes, including about 244,000 children and adolescents.
The demand for contract manufacturing and services has been rapidly rising in the pharmaceutical market over the last few years. Some of the important Clinical Research Organizations (CROs) are IQVIA, Syneos Health, ICON, and Parexel. Contract research and manufacturing organizations help pharmaceutical companies in risk reduction, reduction in expenditures, aid in complex drug manufacturing processes, and shorten lead times. Additionally, the growing demand for novel drug discovery and the increasing number of clinical trials pertaining to research and development in the pharma industry are likely to enhance the CRO market share in the future. Spain accounts for the sixth largest market for subsequent entry biologics in the European Union. The regulatory approval of biosimilars is likely to improve its demand in manufacturing and hence is expected to promote the market's growth.
The global biosimilar contract manufacturing market can be segmented by product, technology, application, and by region. Based on the product, the market can be divided into Recombinant Non-glycosylated Proteins v/s Recombinant Glycosylated Proteins. Based on technology, the market can be divided into Mammalian v/s non-Mammalian. Based on application, the market can be grouped into Oncology, Blood Disorders, Growth Hormonal Deficiency, Chronic & Autoimmune Disorders, Rheumatoid Arthritis, and Others. Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. Among the different countries, United Kingdom dominated the global biosimilar contract manufacturing market on account of the growing demand for lower-cost therapy for the treatment of chronic disease.
Catalent, Inc., Boehringer Ingelheim GmbH, Alcami Corporation, Inc., Almac Group, Lonza Group AG, Biocon Limited, Avid Bioservice, Inc, Rentschler Biopharma SE, Fujifilm Kyowa Kirin Biologics Co., Ltd., WuXi Biologics, Inc. are some of the leading players operating in the Global Biosimilar Contract Manufacturing Market.
In this report, global biosimilar contract manufacturing market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in Global Biosimilar Contract Manufacturing Market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: