Biopharmaceutical Contract Manufacturing Market is expected to grow at a rate of 8.8% CAGR and reach US$25.1 Billion by 2034 | FMI Analysis

Posted on 2024-06-24 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

The Biopharmaceutical Contract Manufacturing Market is experiencing a surge, fueled by a projected Compound Annual Growth Rate (CAGR) of 8.8%. According to a recent market analysis, the market is anticipated to skyrocket from US$10.7 billion in 2024 to a staggering US$25.1 billion by 2034. This translates to nearly doubling in size within a decade, highlighting the growing trend of biopharmaceutical companies outsourcing their manufacturing needs.

The biopharmaceutical contract manufacturing sector offers a myriad of advantages, including access to cutting-edge technologies, expedited time-to-market for new pharmaceuticals, and enhanced flexibility. These compelling benefits have prompted several multinational corporations to leverage the expertise of contract manufacturing firms.

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Regional Insights:

The U.S. dominates the North American region with a total market share of 91.0% in 2021 and is projected to continue experiencing high growth throughout the forecast period.

Germany is set to exhibit a CAGR of over 11.5% in the European Biopharmaceutical Contract Manufacturing Industry during the forecast period. In this region, the next-generation therapy market is believed to be driven by biological treatment options compared to the pharmaceutical option.

China holds a 34.8% share in the East Asia market in 2021 and is projected to increase at a CAGR rate of 13.5% during the forecast period. The growth of the Biopharmaceutical Contract Manufacturing Industry in the country is growing because most of the pharma and biopharma companies are focusing on capitalizing on the growth.

Asia Pacific is gaining attention among manufacturers for biologics production at reduced manufacturing costs. Emerging regions offering greater profit margins are major focus points for biopharmaceutical contract manufacturing, globally.”

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 Industry, 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.

Biopharmaceutical Contract Manufacturing Market Key Players:

Catalent Inc.
Lonza Group Ag
Patheon N.V. (Thermo Fisher Scientific Inc.)
Abzena Plc.
Sandoz International GmbH (Novartis AG)
Fujifilm Diosynth Biotechnologies (FUJIFILM Holdings)
Baxter Pharmaceutical Solutions LLC (Baxter Inc.)
AbbVie Contract Manufacturing (AbbVie Inc.)
Samsung Biologics Co. Ltd.
ProBioGen AG
Pfizer Centre Source Ltd (Pfizer Inc.)
Novasep
Biomeva GmbH
Kbi Biopharma Inc
Rentschler Biotechnologie GmbH
Ajinomoto Althea Inc. (Ajinomoto Co., Inc.)

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Segments Covered in Biopharmaceutical Contract Manufacturing Market Research:

By Platform Type:

Mammalian Based
Microbial Based

By Product Type:

Monoclonal Antibodies
Recombinant Protein
Vaccine
Insulin
Growth factor
Interferons
Others

By Application Type:

Clinical
Commercial

By Therapeutic Area Type:

Autoimmune Diseases
Oncology
Metabolic Diseases
Ophthalmology
Cardiovascular Diseases
Infectious Diseases
Neurology
Respiratory Disorders
Others

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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