Categories: Healthcare

Biopharmaceutical CMO And CRO Market Expansion 2024-2033: Growth Drivers and Dynamics

The biopharmaceutical cmo and cro global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Biopharmaceutical CMO And CRO Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The biopharmaceutical CMO and CRO market size has grown strongly in recent years. It will grow from $31.29 billion in 2023 to $33.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to increasing investment in biopharmaceutical R&D, growing demand for innovative therapies, expanding biologics pipeline, high growth in biopharmaceutical, and development in outsourcing strategies by pharmaceutical companies.
The biopharmaceutical CMO and CRO market size is expected to see strong growth in the next few years. It will grow to $43.11 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rising outsourcing of drug development and manufacturing, increasing focus on cost-effective production methods, expanding therapeutic areas and drug pipelines, increasing demand for personalized medicine, and higher investments in biotechnology startups. Major trends in the forecast period include rising adoption of automated and high-throughput technologies, increasing use of advanced analytics and AI in drug development, growth in demand for cell and gene therapies, increasing integration of digital technologies in clinical trials, and rise in outsourcing of complex biopharmaceutical processes.

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Scope Of Biopharmaceutical CMO And CRO Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Biopharmaceutical CMO And CRO Market Overview

Market Drivers –
The rising investment in research and development is expected to propel the growth of the biopharmaceutical CMO and CRO market going forward. Research and development investments are rising due to several factors, such as the demand for innovation, competitive pressures, the need to address evolving market needs, and government incentives. Research and development investments enable CMOs and CROs to create enhanced manufacturing methods and research procedures, hence improving their capabilities and operating efficiency. This drive to innovation draws in and maintains clients by providing cutting-edge solutions while still guaranteeing regulatory compliance. For instance, in December 2023, according to Eurostat, a Luxembourg-based statistical office of the European Union, in 2022, the EU’s expenditure on research and development (R&D) increased to €352 billion ($384.42 billion), marking a 6.34% rise from €331 billion ($361.48) in the previous year. Therefore, the rising investment in research and development is driving the growth of the biopharmaceutical CMO and CRO market.

Market Trends –
Major companies in the biopharmaceutical CMO and CRO market are forming strategic partnerships to enhance services, improve efficiencies, and accelerate drug development for biopharmaceutical firms. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in June 2024, Abzena plc., a UK-based biopharmaceutical company, partnered with Argonaut Manufacturing Services Inc., a US-based contract manufacturing organization (CMO), to integrate drug development and manufacturing solutions for clients. With this partnership, they aim to provide accelerated, end-to-end drug development and manufacturing solutions that enhance efficiency, reduce costs, and streamline biopharmaceutical production for clients.

The biopharmaceutical cmo and cro market covered in this report is segmented –

1) By Product: Biologics, Biosimilars
2) By Service Type: Contract Manufacturing, Contract Research
3) By Source: Mammalian, Non-Mammalian

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Regional Insights –
North America was the largest region in the biopharmaceutical CMO and CRO market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biopharmaceutical CMO and CRO market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –
Major companies operating in the biopharmaceutical CMO and CRO market are Thermo Fisher Scientific Inc., Boehringer Ingelheim International GmbH, Eurofins Scientific SE, Lonza Group AG, Syneos Health Inc., Catalent Inc., Charles River Laboratories International Inc., Parexel International (MA) Corporation, Samsung Biologics Co. Ltd., CELLTRION INC., Medpace Holdings Inc., Fujifilm Diosynth Biotechnologies UK Limited, Almac Group, Pharmaron Beijing Co. Ltd., Worldwide Clinical Trials, KBI Biopharma, Inotiv Inc., Caidya, Rentschler Biopharma SE, Celerion Inc., TFS HEALTHCARE LIMITED

Table of Contents
1. Executive Summary
2. Biopharmaceutical CMO And CRO Market Report Structure
3. Biopharmaceutical CMO And CRO Market Trends And Strategies
4. Biopharmaceutical CMO And CRO Market – Macro Economic Scenario
5. Biopharmaceutical CMO And CRO Market Size And Growth
…..
27. Biopharmaceutical CMO And CRO Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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