The Biopharmaceuticals Contract Manufacturing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Biopharmaceuticals Contract Manufacturing Global Market Report 2024, The biopharmaceuticals contract manufacturing market size has grown rapidly in recent years. It will grow from $18.31 billion in 2023 to $20.23 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to increased biopharmaceutical development, cost efficiency and risk mitigation, growing pipeline of biologics, globalization of biopharmaceutical industry, flexible manufacturing solutions.
The biopharmaceuticals contract manufacturing market size is expected to see rapid growth in the next few years. It will grow to $29.97 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to increasing outsourcing trends, biosimilar development, shorter time-to-market requirements, global market expansion, focus on specialized services. Major trends in the forecast period include technological integration, outsourcing expansion beyond large molecules, advanced manufacturing technologies adoption, focus on quality and compliance, rise of biosimilars manufacturing,
The increasing demand for biologics is expected to propel the growth of the biopharmaceutical contract manufacturing market going forward. Biologics are products manufactured from living organisms or containing pieces made from them, such as those derived from humans, animals, or microbes, using biotechnology. They are utilized to treat various diseases and ailments and provide the most cutting-edge therapies currently available. The biologics contract manufacturing industry is expanding due to the expanding biologics pipeline, the complexity of the production process, and firms focusing on their core capabilities, several pharmaceutical and biotechnology businesses are currently outsourcing a wide range of tasks, from commercial-scale manufacturing to early-stage drug research. For instance, in December 2021, IQVIA Inc, a US-based provider of commercial outsourcing and biopharmaceutical development services, released a report stating that by 2021, biologics will account for 34% of all medical expenditures in Europe, with a value of €78.6 billion (US $86.29 billion) with a five-year compound annual growth rate (CAGR) of 10.5%. Therefore, the increasing demand for biologics is driving the growth of the biopharmaceutical contract manufacturing market.
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The biopharmaceuticals contract manufacturing market covered in this report is segmented –
1) By Product: Biologics, Monoclonal Antibodies (MABs), Recombinant Proteins, Vaccines, Antisense, RNAi, And Molecular Therapy, Biosimilars
2) By Source: Mammalian, Non-mammalian
3) By Service: Process Development, Fill And Finish Operations, Analytical And QC studies, Packaging
4) By Application: Clinical, Commercial
Product innovations are a key trend gaining popularity in the biopharmaceuticals contract manufacturing market. Major companies operating in the biopharmaceutical contract manufacturing market are developing innovative products to sustain their position in the market. For instance, in February 2023, Thermo Fisher Scientific, a US-based biotechnology research company, and Elektrofi, a US-based biotechnology company specializing in drug formulation and delivery innovations, entered into a strategic contract manufacturing agreement to support the commercial production of Elektrofi’s ground-breaking ultra-high concentration subcutaneous products. Elektrofi’s proprietary microparticle technology enables small-volume injections of biologics such as monoclonal antibodies, therapeutic proteins, and other large-molecule medications important for human health. Elektrofi’s platform technology allows patients to self-inject medicines at home rather than in a hospital setting, overcoming the difficulties of administering biologic-based medications.
The biopharmaceuticals contract manufacturing market report table of contents includes:
1. Executive Summary
2. Biopharmaceuticals Contract Manufacturing Market Characteristics
3. Biopharmaceuticals Contract Manufacturing Market Trends And Strategies
4. Biopharmaceuticals Contract Manufacturing Market – Macro Economic Scenario
5. Global Biopharmaceuticals Contract Manufacturing Market Size and Growth
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26. South America Biopharmaceuticals Contract Manufacturing Market
27. Brazil Biopharmaceuticals Contract Manufacturing Market
28. Middle East Biopharmaceuticals Contract Manufacturing Market
29. Africa Biopharmaceuticals Contract Manufacturing Market
30. Biopharmaceuticals Contract Manufacturing Market Competitive Landscape And Company Profiles
Top Major Players:
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