The Biologics Contract Manufacturing Demand Market is slated to witness a staggering CAGR In Upcoming Years. The future belongs to fee-for-value models. The key stakeholders are into the delivery of high-quality, cost-effective care through these models. Thus, e-governance IT programs are being rolled out all over. In all, the e-market would be the trend in the upcoming period.
Pharmaceuticals and biotechnology companies are outsourcing specific services from the early stages of drug development to biological contract manufacturing organizations to reduce drug manufacturing costs. Outsourcing increases drug manufacturing efficiency and facilitates flexible operational capabilities, which is expected to immensely boost biologics contract manufacturing demand. Rising prevalence of chronic and lifestyle diseases is also anticipated to propel biologics contract manufacturing demand. Besides, continuous focus by manufacturers toward adopting technologically-advanced systems to manufacture novel biologics is also expected to accelerate the demand for biologics contract manufacturing over the forecast period.
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Global biologics contract manufacturing demand is expected to reach at 8 Mn liters (MnL) in 2030, exhibiting an impressive CAGR of over 17% during the forecast period (2020 – 2030).
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Key Takeaways from Biologics Contract Manufacturing Demand Study
“Technological advancements to improve the manufacturing efficiency of biologics at low cost is expected to flourish market growth opportunities and provide a competitive advantage to market players in terms of innovation,” says a PMR analyst.
Doubling Industry Capacity by 2022-2023 amid COVID-19 Pandemic
The COVID-19 pandemic is becoming an industry changing milestone by providing opportunities to global CDMOs – small as well big CDMO companies. Local government and industry funds are being targeted toward rapid expansion of industry capacity in order to meet the unmet demand for vaccine development and commercialization amid the COVID-19 crisis.
For instance, in June 2020, Fujifilm Diosynth Biotechnologies announced the investment of 100 billion Yen (US$ 928 Million) to expand its large-scale biologics production facility in Denmark.
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Expansion of Manufacturing Capacity – Imperative Strategy for Market Players
Key players involved in biologics contract manufacturing are looking forward to expand their manufacturing capacities to meet global demand. Leading companies are expanding their production capabilities and capacities to become the preferred choice for innovative biopharmaceutical companies and hold on to a strong position in the market.
For instance, in January 2019, Boehringer Ingelheim Biopharmaceuticals China expanded its commercial manufacturing capacities. The company installed an additional bioreactor, all needed utility, and infrastructure for GMP operations.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on biologics contract manufacturing demand in its latest study, presenting historical demand assessment of 2015 – 2019 and projections for 2020 – 2030, on the basis of platform (mammalian and microbial), application (commercial and clinical) product (monoclonal antibodies, recombinant proteins, vaccines, insulin, interferons, growth factors, and others), and therapeutic area (oncology, autoimmune disease, metabolic disease, ophthalmology, cardiovascular disease, infectious disease, neurology, respiratory disorders, and others), across seven key regions.
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