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Global Fill Finish Manufacturing Market Set for Rapid Growth, to Reach USD 5.15 Billion by 2024

iCrowdNewswire   Oct 1, 20201:12 PM ET

Zion Market Research has published a new report titled “Fill Finish Manufacturing Market by Product (Consumables (Vial, Prefilled Syringes, Cartridge, and Others) and Instruments) and by End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Academic Research Institutes, and Medical Device Companies): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2024”. According to the report, the global fill finish manufacturing market was valued at approximately USD 2.99 billion in 2017 and is expected to reach around USD 5.15 billion by 2024, growing at a CAGR of 8.8 % between 2018 and 2024.

Fill finish manufacturing involves aseptically filling of biological drugs or medicines in any form, such as sterile liquid, powder, and suspension, in vials, ampoules, bottles syringes, and cartridges. Many biopharmaceutical products are fragile in nature and have several stability problems during pharmaceutical processing and filling. These biological drugs are prone to contamination that could lead to huge economic losses for the manufacturers. Fill and finish operations provide advanced aseptic solutions to prevent contamination of biopharmaceutical products.

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Global Fill Finish Manufacturing Market

Growing biopharmaceutical industry globally is likely to drive the fill finish manufacturing market in the future. Increasing adoption of prefilled syringes, technological advancements related to fill finish manufacturing solutions, and launch of new drugs and therapeutics are among other factors fueling the fill finish manufacturing market growth. However, high capital requirement and stringent regulatory policies are hampering the global fill finish manufacturing market. Alternatively, emerging biopharmaceutical industry in developing countries is likely to offer lucrative opportunities during the forecast time period.

By product, the fill finish manufacturing market is divided into consumables and instruments. The consumables segment was the highest revenue grosser in 2017. Fill finish manufacturing is a common unit operation in the manufacturing of biological drugs. The increasing demand for fill finish manufacturing in biopharmaceutical companies and CRO’s are projected to poise the expansion of the consumables segment in the upcoming years.

By end-user, the fill finish manufacturing market is divided into pharmaceutical and biotechnology companies, contract research organizations, and others. The pharmaceutical and biotechnological companies dominated the market and accounted for the largest share in 2017, due to various factors, such as contamination prevention in the production of feed and maintenance of the aseptic conditions in the manufacturing facility. In addition, the presence of strict regulatory policies for drug approvals and quality control in the production facilities are other factors driving the pharmaceutical and biotechnology companies segment. The contract research organization segment is likely to grow at the highest CAGR during the forecast time period.

By geography, the global fill finish manufacturing market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe is anticipated to remain the dominant region over the forecast time period. North America was the second largest market. The Asia Pacific is likely to be the fastest growing market with the highest annual growth rate during the forecast time period, owing to rapidly developing economies, such as India and China. The Middle East and Africa and Latin America are likely to experience moderate growth in the fill finish manufacturing market in the upcoming years.

Some key players of the global fill finish manufacturing market include Becton, Dickinson and Company, West Pharmaceutical Services, Inc., Gerresheimer AG, Robert Bosch GmbH, IMA, OPTIMA, and Nipro Medical Corporation.

This report segments the global Fill Finish Manufacturing market as follows:

Global Fill Finish Manufacturing Market: Product Segment Analysis

Global Fill Finish Manufacturing Market: End-User Segment Analysis

Global Fill Finish Manufacturing Market: Regional Segment Analysis

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Keywords:    Fill Finish Manufacturing Market

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