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Global Biopharmaceutical Manufacturing Market Growth Analysis of all Top Key Players Like Pfizer Inc., Roche, Amgen Inc. Novo Nordisk, AbbVie Inc, Sanofi S.A, and Others 2018 - 2023
According to the latest report by IMARC Group, titled “Global Biopharmaceutical Manufacturing Market Report 2018-2023”, the global biopharmaceutical manufacturing market reached a volume of 5 Million Liters in 2017, exhibiting a CAGR of more than 4% during 2010-2017. Biopharmaceuticals or biologics refer to drugs manufactured from biological sources. These drugs are effective in the treatment of various chronic diseases for which there is no cure available. Biopharmaceutical manufacturing consists of a highly complex research and development process involving huge investments in terms of capital and time to build specialized manufacturing facilities and equipment. With the growing demand for biopharmaceuticals, the need to reduce costs, increase efficiencies and improve weak development pipelines, especially in developing regions, are driving the demand for new and improved biopharmaceutical manufacturing technologies.
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Global Biopharmaceutical Manufacturing Market Trends:
The expansion of biosimilars coupled with the growth of international biomanufacturing centers are one of the major factors fostering the demand for biopharmaceutical manufacturing across the globe. In addition, a number of companies are outsourcing various production activities to contract manufacturers due to the significant cost savings, innovation and specific capabilities offered by them. Moreover, the manufacturers are focusing on single-use technology as it helps in improving operational costs by increasing process flexibility and offering higher product yield. Additionally, the use of this technology creates a greener manufacturing platform as it tends to consume less chemicals, water and utilities with a smaller carbon footprint than traditional processing. However, the maturation of a number of biopharmaceutical products and emergence of alternative technologies are hindering the market growth. Looking forward, the market is projected to reach a volume of 6 Million Liters by 2023.
Browse Full Report along with complete TOC @ https://www.imarcgroup.com/global-biopharmaceutical-manufacturing-market
Global Biopharmaceutical Manufacturing Market Summary:
On the basis of cell culture, the market has been segmented into mammalian and microbial cell cultures. Amongst these, mammalian cell culture represents the largest category, holding the majority of the production volume.
Based on class, the report finds that recombinant proteins dominate the market. Other major class segments are monoclonal antibodies, interferons, erythropoietin, granulocyte colony-stimulating factor (G-CSF), recombinant human insulin, vaccines and human growth hormones (HGH).
Region-wise, North America currently represents the largest market, accounting for nearly a half of the total market share. On account of increasing healthcare spending and technological advancements, the demand for biopharmaceutical manufacturing is being propelled in the region. Other major regions include Europe and Asia Pacific.
The competitive landscape of the market has also been examined with some of the key players being Roche, Amgen, Novo Nordisk, AbbVie, Sanofi SA, Johnson & Johnson, Pfizer, Merck & Co., Ely Lilly and Biogen Idec.
Browse related reports:
Global Biopharmaceutical Market Research Report: https://www.imarcgroup.com/biotechnology-industry
Global Pharmaceutical Market Research Report: https://www.imarcgroup.com/global-pharma-industry
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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