openPR Logo
Press release

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™

03-31-2022 08:25 AM CET | Health & Medicine

Press release from: 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.

Get Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/sample/biopharmaceutical-cmo-market-103346

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.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/biopharmaceutical-cmo-market-103346

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.

Speak To Our Analyst:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/biopharmaceutical-cmo-market-103346

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.

Quick Buy - Biopharmaceutical CMO Market Research Report:
https://www.fortunebusinessinsights.com/checkout-page/103346

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)

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release 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™ here

News-ID: 2591654 • Views: 191

More Releases from Fortune Business Insights

Industry 4.0 Market to Exhibit a Remarkable CAGR of 16.3% by 2029 | Top Key Play …
Fortune Business Insights Published the Latest Industry 4.0 Market 2023 Study by in-depth analysis of the current scenario, the Market size, demand, growth pattern, trends, and forecast. This report on the Industry 4.0 Market study considers important factors such as an analysis of the market, a definition of the market, segmentation, significant trends in the industry, an examination of the competitive landscape, and research methodology. The research provides an idea about
Construction Equipment Market to Exhibit a Remarkable CAGR of 6.6% by 2028 | Top …
Fortune Business Insights Published the Latest Construction Equipment Market 2023 Study by in-depth analysis of the current scenario, the Market size, demand, growth pattern, trends, and forecast. This report on the Construction Equipment Market study considers important factors such as an analysis of the market, a definition of the market, segmentation, significant trends in the industry, an examination of the competitive landscape, and research methodology. The research provides an idea
Portable Toilet Market to Exhibit a Remarkable CAGR of 7.1% by 2028 | Top Key Pl …
Fortune Business Insights Published the Latest Portable Toilet Market 2023 Study by in-depth analysis of the current scenario, the Market size, demand, growth pattern, trends, and forecast. This report on the Portable Toilet Market study considers important factors such as an analysis of the market, a definition of the market, segmentation, significant trends in the industry, an examination of the competitive landscape, and research methodology. The research provides an idea
Elevator and Escalator Market to Exhibit a Remarkable CAGR of 6.7% by 2029 | Top …
Fortune Business Insights Published the Latest Elevator and Escalator Market 2023 Study by in-depth analysis of the current scenario, the Market size, demand, growth pattern, trends, and forecast. This report on the Elevator and Escalator Market study considers important factors such as an analysis of the market, a definition of the market, segmentation, significant trends in the industry, an examination of the competitive landscape, and research methodology. The research provides

All 5 Releases


More Releases for CMO

Healthcare CMO Market
Healthcare CMO Market to 2027 - Global Analysis and Forecasts By Service (Pharmaceutical Contract Manufacturing Services and Medical Device Contract Manufacturing Services), and Geography The global healthcare CMO market is expected to witness substantial growth. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable
PharmSource - CMO Scorecard: Outsourcing of NDA Approvals and CMO Performance - …
PharmSource - CMO Scorecard: Outsourcing of NDA Approvals and CMO Performance - 2017 Edition Where's your place in the CMO hierarchy? Find out in the CMO industry's authoritative analysis of manufacturing of NDA approvals. This CMO scorecard was compiled through hundreds of professional hours of research and analysis, and is presented in a 40-page report with over 30 graphs and tables. Only CMO Scorecard enables the CMO industry to benchmark its performance
PharmSource-CMO Scorecard: Outsourcing of NDA Approvals and CMO Performance-2018
This report is the 8th edition of our long running analysis of the CMO Industry, using NDA approvals as the primary indicator of performance. CMO Scorecard is critical for benchmarking the performance of the CMO industry and the relative performance of major CMOs. Reasons to buy: This 43-page report gives important, expert insight you won’t find in any other source. 28 tables and figures throughout the report illustrate major points and trends.
CMO Scorecard Market: Outsourcing of NDA Approvals and CMO Performance
Latest industry research report on: CMO Scorecard Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts Find out in the CMO industrys authoritative analysis of manufacturing of NDA approvals. This CMO scorecard was compiled through hundreds of professional hours of research and analysis, and is presented in a 40-page report with over 30 graphs and tables. Only CMO Scorecard enables the CMO industry to benchmark its
CMO Scorecard Review: CMO Performance & Outsourcing of NDA Approvals 2017
Recently, Market Research Hub (MRH) has added a fresh report which focuses on the CMO industry’s authoritative analysis of manufacturing of NDA approvals. The research report focusing on the CMO Scorecard and is titled as, “PharmSource - CMO Scorecard: Outsourcing of NDA Approvals and CMO Performance - 2017 Edition”. This CMO scorecard was assembled through hundreds of professional hours of research and analysis, and is comprised in a 40-page report. Request
CMO Scorecard Review: CMO Performance & Outsourcing of NDA Approvals 2017
Recently, Market Research Hub (MRH) has added a fresh report which focuses on the CMO industry’s authoritative analysis of manufacturing of NDA approvals. The research report focusing on the CMO Scorecard and is titled as, “PharmSource - CMO Scorecard: Outsourcing of NDA Approvals and CMO Performance - 2017 Edition”. This CMO scorecard was assembled through hundreds of professional hours of research and analysis, and is comprised in a 40-page report. Request