Biopharmaceutical CMO Market to reach USD 26.49 Billion by 2028; Increasing Biopharmaceutical R&D and Robust Biologics Pipelines to Boost Growth: Fortune Business Insights™

The global biopharmaceutical CMO market size reached USD 9.64 billion in 2020. The market valuation is slated to rise from USD 11.56 billion in 2021 to USD 26.49 billion in 2028 at a CAGR of 12.6% during the forecast duration. The market expansion will be influenced by the increasing number of novel drug development projects entering clinical pipelines. As per data published by Contract Pharma in 2019, overall drug development capacity is set to increase by more than 60% as more and more CMOs invest to help meet the future demand. Fortune Business Insights presents this information in its report titled "Biopharmaceutical CMO Market, 2021-2028."

A biopharmaceutical Contract Manufacturing Organization (CMO) is a firm that serves other companies in the biopharmaceutical sector on a contract basis. CMOs offer a wide portfolio of services ranging from manufacturing to packaging. Relying on such organizations allows biopharmaceutical companies to outsource their production operations, allowing them to emphasize more on drug discovery, development, and marketing. Many small biotechnology and biopharmaceutical companies outsource their fill and finish manufacturing needs as they lack the required in-house production capacity. Outsourcing also enables them to reduce the need for capital expenditures.

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Notable Industry Developments:
June 2021 - Danaher completed the acquisition of Aldevron, a biotech contract manufacturing and development organziation.
April 2021 - Thermo Fisher Scientific acquired PPD, Inc., one of the world's leading providers of clinical research and pharmaceutical manufacturing services.

COVID-19 Impact:
Emerging Opportunities amid Accelerated COVID-19 Vaccine Development Efforts
Contract manufacturing services have experienced positive demand during the pandemic owing to increased allocation of biopharmaceutical contracts to CMOs between 2019 and 2020. The pandemic saw major biopharmaceutical companies accelerate the development of safe and effective COVID-19 vaccines as well as new therapies for the treatment of those infected. As of September 2021, there are over 1,000 vaccine development efforts in progress for COVID-19, the Global Data Pharma Intelligence Center reports. Also, more than 230 contract manufacturing agreements for COVID-19 vaccine development have been disclosed publicly. The aforementioned factors have augmented the biopharmaceutical CMO market growth during the pandemic.

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Service and Region are Studied
On the basis of service, the market is segmented into manufacturing, analytical & QC studies, packaging, and fill & finish operations. The manufacturing segment is further bifurcated into upstream processing and downstream processing.
Geographically, the market is classified into North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America.

Report Coverage
The report offers:
• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into the regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Latest industry developments such as product launches, partnerships, mergers, and acquisitions.

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Robust Biologics Pipeline to Accelerate Demand for Contract Manufacturing Services
The biopharmaceutical CMO market growth over 2021-2028 will be driven by the increased spending on outsourced contract development and manufacturing services by biotech and biopharmaceutical companies. The market expansion will be also influenced by the increasing number of biologics pipelines that are set to be launched in the coming years. In 2018, the U.S. FDA had approved more than 64 new molecular entities and novel biologics. In addition, the increasing number of mergers and acquisitions among CMO service providers will augment the revenue growth for the market.
However, the market growth may be slightly hampered by high initial costs for setting up manufacturing facilities.

North America to Dominate Led by Robust Presence of CMOs
North America accounted for about USD 3.78 billion in the global biopharmaceutical CMO market share and will record substantial gains in the forthcoming years. The regional growth is attributable to the strong presence of CMO manufacturing facilities in the regions, with several small-scale CMOs constantly making their way into the market. Between 2018 and 2019, there were more than 218 CMO facilities across the U.S., according to BioProcess International.

The market in Europe is growing steadily, with the total CMO capacity gradually overtaking that of North America. As of 2020, Europe makes up around 37% of the worldwide CMO capacity compared to North America which comprises around 35%, reports BioProcess International.
Meanwhile, Asia Pacific will record notable growth throughout the forecast period backed by the rising number of CMOs across China, India, and countries in Southeast Asia.

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List of Key Players Profiled in the Market Report:
• Samsung Biologics (Incheon, Republic of Korea)
• Recipharm AB (Stockholm, Sweden)
• WuXi Biologics (Wuxi, China)
• FUJIFILM (FUJIFILM Diosynth Biotechnologies (Tokyo, Japan)
• Lonza (New Jersey, U.S.)
• Thermo Fisher Scientific Inc. (Patheon) (Waltham, U.S.)
• Cambrex Corporation (New Jersey, U.S.)
• Catalent, Inc (New Jersey, U.S.)
• Siegfried Holding AG (Zofingen, Switzerland)

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