Biopharmaceutical Contract Manufacturing Market Set for Nearly 3X Growth by 2029, with Increased Adoption of Monoclonal Antibodies for Chronic Diseases
Jan 23,2020 | Healthcare, Pharmaceuticals and Medical devices
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$ 17 Bn by 2029.
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.
“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.”
Competitive Landscape of Biopharmaceutical Contract Manufacturing Market
For More Detailed Insights on Biopharmaceutical Contract Manufacturing Market
Key players in the biopharmaceutical contract manufacturing market are now focusing on geographic expansion through mergers and acquisitions. In October, 2017, Catalent Inc. acquired Catalent Indiana, earlier called Cook Pharmacia, LLC., which was an integrated provider of drug products and drug substance and related services. Further, leading players in the biopharmaceutical contract manufacturing market are also involved in different industrial developmental activities to expand their service offerings. For instance, in 2016, Sandoz International GmbH entered into an agreement with Kyowa Hakko Kirin Co., Ltd. for the promotion and distribution of its monoclonal antibody biosimilar - Rituximab, in Japan.
What else is in the report?
Future market insights offers a unique perspective and actionable insights on the biopharmaceutical contract manufacturing market in its latest study, presenting historical demand assessment from 2014-2018 and projections for 2019-2029, based on platform (mammalian-based and microbial-based), product type (monoclonal antibodies, recombinant proteins, vaccines, insulin, interferon, growth factors, and others), application (clinical and commercial), and therapeutic area (autoimmune diseases, oncology, metabolic diseases, opthalmology, cardiovascular diseases, infectious diseases, neurology, respiratory disorders, and others), across seven key regions.
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