DUBLIN--(BUSINESS WIRE)--The "Biopharmaceutical Contract Manufacturing Market to 2027 - Global Analysis and Forecasts by Product; Service, and Geography" report has been added to ResearchAndMarkets.com's offering.
The biopharmaceuticals contract manufacturing market was valued at US$ 13,727.13 million in 2019 and is expected to grow at a CAGR of 8.2% from 2020 to 2027 to reach US$ 25,497.26 million by 2027.
Driving factors of the biopharmaceuticals contract manufacturing market are increasing trend of outsourcing among pharmaceuticals companies and elevating demand for biologics. However, growing competition in biopharmaceutical contract manufacturing industry is hindering the growth of the market.
The contract manufacturing organization (CMO) offers numerous benefits, including reducing investments in facilities and drug development costs, to pharmaceutical companies, thereby improving net cash flow. Outsourcing is cheaper and increases the efficiency of manufacturing processes. Also, it allows pharmaceutical and biotechnology companies to redirect resources to other areas. A few years ago, the CMO industry was a niche service market, offering additional manufacturing capacity or specific services to pharmaceutical companies. Presently, many pharmaceuticals and biotechnology companies outsource various services from early-stage drug development to commercial-scale manufacturing. As the pharmaceuticals industry is shifting from large-scale production to more niche and targeted therapies (personalized medicine), the demand for flexible operational capabilities, production scales, and multiple-product operations is leading to the rise in inclination toward CMOs.
The global biopharmaceuticals contract manufacturing market is segmented into product and services. The biopharmaceuticals contract manufacturing market, by product, is segmented into biologics and biosimilars. The biologics segment held the largest share of the market in 2019, whereas the biosimilar segment is anticipated to register the highest CAGR in the market during the forecast period. Based on services, the market is segmented into development process, final dosage operations, and final packaging. The development process held the largest share of the market in 2019, whereas analytical and quality control segment is estimated to register the highest CAGR in the market during the forecast period.
Some of the essential primary and secondary sources included in the report are The Pharma & Biopharma Outsourcing Association (PBOA), Centers for Disease Control and Prevention, and Organization for Economic Co-operation and Development.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the biopharmaceuticals contract manufacturing market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global biopharmaceuticals contract manufacturing market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
- Increasing Outsourcing by Pharmaceutical Companies
- Increasing Demand of Biologics
- Increasing Competition in the Industry
- Emerging Markets
- Consolidation in Pharmaceutical CMO Industry
- Lonza Group AG
- Boehringer Ingelheim International GmbH.
- Inno Biologics Ventures Sdn Bhd
- Thermo Fisher Scientific
- AbbVie Inc.
- WuXi Biologics
- General Electric
- Samsung Biologics
- Merck KGaA
- Ajinomoto Co., Inc
For more information about this report visit https://www.researchandmarkets.com/r/pinu7g