Jan 25, 2021   SOURCE: PR NewsWire

Biopharmaceuticals Contract Manufacturing Market Size Worth $25.1 Billion By 2028: Grand View Research, Inc.

SAN FRANCISCO, Jan. 25, 2021 /PRNewswire/ -- The global biopharmaceuticals contract manufacturing market size is expected to reach USD 25.1 billion by 2028 registering a CAGR of 5.7% from 2021 to 2028, according to a new report by Grand View Research, Inc. Growing biopharmaceutical pipeline and lack of adequate manufacturing capabilities are two key factors that are driving partnership between large molecule manufacturers and Contract Manufacturing Organizations (CMOs). Contract manufacturers are engaged in broadening their service portfolio to meet the company demands with respect to regulatory standards and new services.

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Key suggestions from the report:

    --  Mammalian-based biopharmaceutical contract manufacturing captured the
        largest market share of over 59% in 2020 owing to the high penetration
        of mammalian expression system for biologics development
    --  Out of all the services offered in this market, process development
        contributed to the largest share in 2020 owing to high capital
        investment, especially in the downstream process
    --  The complexities associated with regulatory approval and good
        manufacturing practice pronounces the demand for the established
        contract manufacturers to ensure compliance with regulatory standards
    --  The biologics contract manufacturing segment dominated the global market
        in 2020 owing to higher demand for biologics production
    --  However, the biosimilar segment is estimated to register the fastest
        CAGR from 2021 to 2028 due to cost-saving advantages associated with
        biosimilars development
    --  North America was the dominant regional market in 2020 due to the
        presence of an effective regulatory framework for biologics development
        in the U.S.
    --  However, Asia Pacific is expected to emerge as the fastest-growing
        regional market from 2021 to 2028 owing to emerging countries, such as
        India and China, incorporating developments to sustain the competition
    --  Several international companies are seeking outsourcing of
        biopharmaceutical production to Asian countries owing to the continuous
        expansion of Asian CMOs that offer services at a less price, as compared
        to the service providers based in western countries

Read 139 page research report with ToC on "Biopharmaceuticals Contract Manufacturing Market Size, Share & Trends Analysis Report By Source (Mammalian, Non-mammalian), By Product (Biologics, Biosimilars), By Service (Process Development), And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/biopharmaceuticals-contract-manufacturing-market

The reliance of companies on CMOs for the production of biologics and biosimilars is expected to rise over the forecast period as a consequence of changes adopted by the CMOs. This is evident through growing investment in collaborations of companies with CMOs as well as continuous efforts taken up for expanding the service portfolio.

The supply chain of biopharmaceuticals remained robust and was largely unaffected worldwide during the coronavirus outburst. Also, biopharmaceutical contract manufacturers are observing increased demand related to the Covid-19 vaccine and therapeutics. Thus, the future holds numerous opportunities for the global market. For instance, in 2020, AstraZeneca and Oxford Biomedica signed a one-year clinical and commercial supply agreement for the manufacturing of AstraZeneca's Covid-19 vaccine candidate, AZD1222.

The future growth of CMOs is highly dependent on the promising opportunities offered by the biopharmaceutical industry, the bioprocessing industry, and the contract service industry. Expansion of fill-and-finish services and increasing robustness of venture capital investments for the life science sector are two important opportunities that are anticipated to drive the market. For instance, in 2019, Shanghai HaiHe Biopharma Co. Ltd. raised USD 146.6 million as venture capital for its large cancer drug portfolio, which they shall utilize along with their outsourcing partner Zhejiang Jiuzhou Pharmaceutical Co., Ltd.

Grand View Research has segmented the global biopharmaceuticals contract manufacturing market on the basis of source, service, product, and region:

    --  Biopharmaceuticals Contract Manufacturing Source Outlook (Revenue, USD
        Million, 2016 - 2028)
        --  Mammalian
        --  Non-mammalian
    --  Biopharmaceuticals Contract Manufacturing Service Outlook (Revenue, USD
        Million, 2016 - 2028)
        --  Process Development
            --  Downstream
            --  Upstream
        --  Fill & Finish Operations
        --  Analytical & QC Studies
        --  Packaging
    --  Biopharmaceuticals Contract Manufacturing Product Outlook (Revenue, USD
        Million, 2016 - 2028)
        --  Biologics
            --  Monoclonal Antibodies (MABs)
            --  Recombinant Proteins
            --  Vaccines
            --  Antisense, RNAi, & Molecular Therapy
            --  Others
        --  Biosimilars
    --  Biopharmaceuticals Contract Manufacturing Regional Outlook (Revenue, USD
        Million, 2016 - 2028)
        --  North America
            --  U.S.
            --  Canada
        --  Europe
            --  Germany
            --  France
        --  Asia Pacific
            --  China
            --  India
        --  Latin America
            --  Brazil
        --  Middle East & Africa
            --  South Africa

List of Key Players of Biopharmaceuticals Contract Manufacturing Market

    --  Boehringer Ingelheim GmbH
    --  Lonza
    --  Inno Biologics Sdn Bhd
    --  Rentschler Biotechnologie GmbH
    --  JRS Pharma
    --  AGC Biologics
    --  ProBioGen
    --  Fujifilm Diosynth Biotechnologies U.S.A., Inc.
    --  Toyobo Co., Ltd.
    --  Samsung BioLogics
    --  Thermo Fisher Scientific, Inc.
    --  Binex Co., Ltd.
    --  WuXi Biologics
    --  AbbVie, Inc.

Find more research reports on Biotechnology Industry, by Grand View Research:

    --  Biopharmaceutical CMO And CRO Market - The global biopharmaceutical CMO
        and CRO market size was valued at 27.20 billion in 2020 and is expected
        to expand at a compound annual growth rate (CAGR) of 7.6% from 2021 to
        2028.
    --  Downstream Processing Market - The global downstream processing market
        size was estimated at USD 18.61 billion in 2019, estimated to witness a
        CAGR of 13.1% over the analysis period.
    --  Antisense & RNAi Therapeutics Market - The global antisense & RNAi
        therapeutics market size was estimated at USD 1.09 billion in 2018 and
        is expected to witness a CAGR of 7.5% during the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.