Biopharmaceutical Contract Manufacturing Market to Cross USD 18.7 Billion by 2029

Global biopharmaceutical contract manufacturing market is estimated to be worth US$ 9.3 billion in 2022 and is expected to grow at a CAGR of 10.5% to cross US$ 18.7 billion by 2029.

Reduced overall time to market investment in new drugs, access to expensive technologies, and greater flexibility are some advantages offered by biopharmaceutical manufacturing companies. On the back of these factors, several large companies have outsourced their biopharmaceutical manufacturing operations. Biopharmaceutical contract manufacturing is highly preferred among biopharmaceutical companies with limited in-house production capacity.

Pharmaceutical companies mainly focus on core areas of competence, and hence, do not prefer to take financial risks in the event of formulating the final dose of medicines. This is anticipated to accelerate the growth of the global biopharmaceutical contract manufacturing market during forecast period, estimated to be valued at US$ 18.7 Bn by 2029.

Biopharmaceutical Contract Manufacturing Market Segments:

By Platform Type:

Mammalian Based

Microbial Based

By Product Type:

Monoclonal Antibodies

Recombinant Protein

Vaccine

Insulin

Growth factor

Interferons

Others

By Application Type:

Clinical

Commercial

By Therapeutic Area Type:

Autoimmune Diseases

Oncology

Metabolic Diseases

Ophthalmology

Cardiovascular Diseases

Infectious Diseases

Neurology

Respiratory Disorders

Others

By Region:

North America

Latin America

Western Europe

Eastern Europe

APEJ

Japan

Middle East and Africa (MEA)

Regional Insights:

The U.S. dominates the North American region with a total market share of 91.0% in 2021 and is projected to continue experiencing high growth throughout the forecast period.

Germany is set to exhibit a CAGR of over 11.5% in the European biopharmaceutical contract manufacturing market during the forecast period. In this region, the next generation therapy market is believed to be driven by biological treatment options compared to the pharmaceutical option.

China holds 34.8% share in the East Asia market in 2021 and is projected to increase at a CAGR rate of 13.5% during the forecast period. The growth of the biopharmaceutical contract manufacturing market in the country is growing because, most of the pharma and biopharma companies are focusing to capitalize on the growth.

Asia Pacific is gaining attention among manufacturers for biologics production at reduced manufacturing cost. Emerging regions offering greater profit margins are major focus points for biopharmaceutical contract manufacturing, globally.”

Key Market Players:

Catalent Inc.

Lonza Group Ag

Patheon N.V. (Thermo Fisher Scientific Inc.)

Abzena Plc.

Sandoz International GmbH (Novartis AG)

Fujifilm Diosynth Biotechnologies (FUJIFILM Holdings)

Baxter Pharmaceutical Solutions LLC (Baxter Inc.)

AbbVie Contract Manufacturing (AbbVie Inc.)

Samsung Biologics Co. Ltd.

ProBioGen AG

Pfizer Centre Source Ltd (Pfizer Inc.)

Novasep

Biomeva GmbH

Kbi Biopharma Inc

Rentschler Biotechnologie GmbH

Ajinomoto Althea Inc. (Ajinomoto Co., Inc.)

Key Takeaways of Biopharmaceutical Contract Manufacturing Market Study

Although microbial-based platforms are abundantly used for the production of pharmaceuticals, mammalian-based cell culture is expected to gain traction during the forecast period, owing to higher efficiency and increasing demand.

In terms of product type, monoclonal antibodies currently hold a larger share of the biopharmaceutical contract manufacturing market, due to their superior efficacy as well as increasing adoption for the treatment of chronic diseases.

North America is anticipated to be the most lucrative region in the global biopharmaceutical contract manufacturing market, offering growth opportunities to market players.

The commercial application of biopharmaceutical contract manufacturing is expected to contribute a higher share as compared to clinical application by the end of 2029.

For More Information: https://www.futuremarketinsights.com/reports/biopharmaceutical-contract-manufacturing-market