Biopharmaceuticals Contract Manufacturing Market Expects 9% CAGR with Growing Demand for Effective Chronic Disease
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The global biopharmaceuticals contract manufacturing market is expected to register a revenue CAGR of 9% during the forecast period.
NEW YORK , NY, UNITED STATES, May 30, 2023/EINPresswire.com/ -- The global Biopharmaceuticals Contract Manufacturing Market reached a value of USD 13.85 Billion in 2022. It is projected to experience a compound annual growth rate (CAGR) of 9% throughout the forecast period. Biologics, including monoclonal antibodies, vaccines, and therapeutic proteins, play a crucial role in effectively treating chronic diseases such as cancer and autoimmune disorders. Their high specificity and effectiveness contribute significantly to the growth of market revenue.
Increasing prevalence of chronic diseases is one of the key drivers for the rising demand for biopharmaceuticals, leading to revenue growth in the market. Additionally, pharmaceutical and biotechnology companies are increasingly outsourcing the manufacturing of biopharmaceuticals. This trend allows these businesses to save time, reduce production costs, and focus on their core competencies, further fueling the revenue growth of the market.
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Segments Covered in the Report
The biopharmaceuticals contract manufacturing market can be segmented based on various factors. By source outlook, the market can be categorized into mammalian and non-mammalian sources. Mammalian sources refer to biopharmaceuticals derived from mammals, while non-mammalian sources include other organisms such as bacteria or yeast.
In terms of service outlook, the market can be further divided into several categories. These include process development, downstream services, upstream services, fill & finish operations, analytical & QC studies, and packaging services. Each of these services plays a crucial role in the manufacturing and quality control processes of biopharmaceuticals.
The market can also be segmented based on the product outlook. The products in this market include biologics, monoclonal antibodies (MABs), recombinant proteins, vaccines, antisense, RNAi, and molecular therapy, as well as other biopharmaceuticals and biosimilars. These products cater to a wide range of therapeutic applications and contribute to the growth of the market.
Furthermore, the market can be analyzed based on the therapeutic area outlook. The therapeutic areas covered include oncology, autoimmune diseases, metabolic diseases, cardiovascular diseases, neurology, infectious diseases, and others. These therapeutic areas represent the target diseases or conditions for which biopharmaceuticals are developed and utilized.
In terms of regional scope, the market encompasses North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. These regions represent major markets for biopharmaceuticals contract manufacturing. Additionally, the country scope includes specific countries such as the U.S., Canada, U.K., Germany, France, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, and Turkey, which are key players in the market.
By considering these various segments and regional aspects, a comprehensive understanding of the biopharmaceuticals contract manufacturing market can be obtained.
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Strategic development:
Lonza Group AG revealed a strategic collaboration with Virios Therapeutics in December 2021. The aim of this partnership is to expedite the development of Virios' gene therapy product for Huntington's disease, which is currently in the investigational stage.
Samsung Biologics Co. Ltd., in November 2021, made an announcement regarding the expansion of its manufacturing facility in Incheon, South Korea. The expansion is a response to the growing demand for biopharmaceuticals contract manufacturing services, and it aims to accommodate this increased demand effectively.
In September 2021, Boehringer Ingelheim GmbH disclosed its acquisition of Abexxa Biologics, a biopharmaceutical company headquartered in the United States. Abexxa Biologics specializes in the development of innovative antibody-based therapeutics, and this acquisition aligns with Boehringer Ingelheim's strategic goals and reinforces its presence in the biopharmaceutical sector
Competitive Landscape:
The competitive landscape in the biopharmaceuticals contract manufacturing market features several key players, each contributing to the industry's growth and development. These prominent companies include Lonza Group AG, Boehringer Ingelheim GmbH, Samsung Biologics Co. Ltd., Thermo Fisher Scientific Inc., Fujifilm Diosynth Biotechnologies, Catalent, Inc., Wuxi Biologics, AbbVie Inc., Cytiva (Danaher Corporation), and AGC Biologics.
Lonza Group AG is a leading player in the market, known for its strategic collaborations and partnerships. In December 2021, Lonza announced a strategic partnership with Virios Therapeutics to accelerate the development of Virios' investigational gene therapy product for Huntington's disease.
Boehringer Ingelheim GmbH made headlines in September 2021 with its acquisition of Abexxa Biologics, a U.S.-based biopharmaceutical company focused on antibody-based therapeutics. This acquisition strengthens Boehringer Ingelheim's presence in the biopharmaceutical sector and expands its portfolio of innovative products.
Samsung Biologics Co. Ltd., a renowned player in the industry, announced the expansion of its manufacturing facility in Incheon, South Korea, in November 2021. This expansion is a response to the increasing demand for biopharmaceuticals contract manufacturing services, positioning Samsung Biologics to cater to this demand effectively.
Other notable companies in the market include Thermo Fisher Scientific Inc., Fujifilm Diosynth Biotechnologies, Catalent, Inc., Wuxi Biologics, AbbVie Inc., Cytiva (Danaher Corporation), and AGC Biologics. These companies bring their expertise and capabilities to the market, offering a wide range of services and solutions to pharmaceutical and biotechnology businesses.
Overall, the competitive landscape in the biopharmaceuticals contract manufacturing market is dynamic and characterized by collaborations, expansions, and strategic acquisitions. These companies are instrumental in driving innovation, meeting industry demands, and contributing to the growth of the market.
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In conclusion, the global Biopharmaceuticals Contract Manufacturing Market is highly competitive, with a few major players dominating the market. These companies are actively involved in developing new technologies and products, investing in research and development, and engaging in strategic partnerships and collaborations to maintain their market share and drive revenue growth.
Nikhil Morankar
Reports and Data
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