Press release
Global Biopharmaceuticals Contract Manufacturing Market Analysis, Size, Share, Growth, Trends and Forecast from 2019 to 2029
The outsourcing of biologics has seen a tremendous rise over the years prominently due to its benefits such as decreased investment in drug development and large-scale provision of manufacturing capabilities. The SARS-CoV-2 pandemic has led to increased demand in the biopharmaceuticals contract manufacturing market due to the race in finding a curable vaccine for COVID-19. This aspect may bring good growth opportunities for the biopharmaceuticals contract manufacturing market.
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The escalating importance of contract manufacturing organizations (CMO) in the field of biotechnology may bring immense growth prospects across the forecast period of 2019-2029. CMOs offer diverse services ranging from research and development, regulatory approvals, and final dosage preparations. Thus, this factor may bring good growth opportunities for the biopharmaceuticals contract manufacturing market.
This biopharmaceuticals contract manufacturing market inspects various factors influencing the growth parameters. Some significant aspects such as key trends, competitive landscape, and the regional outlook of the biopharmaceuticals contract manufacturing market have been minutely studied and covered in this report. The stakeholders can benefit overwhelmingly from this exhaustively researched report on the biopharmaceuticals contract manufacturing market. Furthermore, this report also focuses on the impact of COVID-19 on the biopharmaceuticals contract manufacturing market.
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Biopharmaceuticals Contract Manufacturing Market: Competitive Assessment
Government support is garnering great importance in the biopharmaceuticals contract manufacturing market. The players in the biopharmaceuticals contract manufacturing market are banking on this aspect greatly. The inculcation of cutting-edge strategies to produce high-performance drugs is gaining considerable momentum in the biopharmaceuticals contract manufacturing market. In addition, the players in the biopharmaceuticals contract manufacturing market are increasing their production facilities to facilitate large-scale production of the drugs and vaccines.
Some well-established players in the biopharmaceuticals contract manufacturing market are Samsung Biologics, Lonza Group AG, AbbVie Inc., Boehringer Ingelheim International GmbH, Merck KGaA, WuXi Biologics, AGC Biologics, FUJIFILM Diosynth Biotechnologies U.S.A., and Rentschler Biotechnologie GmbH.
Biopharmaceuticals Contract Manufacturing Market: Recent Developments
Various biopharmaceutical organizations across the world are striving hard to find a vaccine for treating COVID-19. This has led to a rise in demand for CMOs. Here are some of the recent developments that are bringing good growth opportunities for the biopharmaceuticals contract manufacturing market.
Emergent Biosolutions recently signed a $174 mn deal with AstraZeneca for offering its services to produce COVID-19 vaccine candidate.
Intravacc, a vaccine development firm recently announced teaming up with biopharmaceuticals contract manufacturing organization Celonic to develop a COVID-19 vaccine.
Contract manufacturing organizations Rentschler Biopharma and Vetter recently partnered to offer their expertise and skills along the biopharmaceutical value chain.
Biopharmaceuticals Contract Manufacturing Market: Emerging Trends
The biopharmaceuticals contract manufacturing market is banking on the breakthrough technological innovations and developments over the years relating to manufacturing and research of drugs. Standardized contract terms are creating a win-win situation for the biopharmaceuticals contract manufacturing organizations and the consumers. Thus, this aspect can bring expansive growth for the biopharmaceuticals contract manufacturing market.
Furthermore, the increase in pandemic-related research and development activities is gaining an upper hand in the growth of the biopharmaceuticals contract manufacturing market. Growing investments in biopharmaceuticals contract manufacturing organizations will also assist in bringing great growth.
Biopharmaceuticals Contract Manufacturing Market; Geographical Analysis
The biopharmaceuticals contract manufacturing market can be geographically segmented into North America, the Middle East and Africa, Latin America, Europe, and Asia Pacific. North America may emerge as an epicenter of growth for the biopharmaceuticals contract manufacturing market during the forecast period of 2019-2029. The heightening research and development activities may prove as a prominent growth accelerator for the biopharmaceuticals contract manufacturing market.
Asia Pacific may also contribute substantially to the growth of the biopharmaceuticals contract manufacturing market due to less operational and manufacturing costs offered by countries like India and China.
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