Press release
Asia Pacific Biologics Contract Manufacturing Market Insights and Emerging Trends by 2031
Asia Pacific Biologics Contract Manufacturing Market: OverviewAccording to Transparency Market Research's latest research report on the biologics contract manufacturing market in Asia Pacific for the historical year 2020 and the forecast period from 2021 to 2031, increase in sales of biopharmaceuticals and number of molecules in the pipeline being developed by small and virtual biotech companies are projected to drive the demand for biologics contract manufacturing during the forecast period.
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The biologics contract manufacturing market in Asia Pacific is anticipated to reach US$ 9.8 Bn by 2031, expanding at a CAGR of 14.5% from 2021 to 2031. Rest of Asia Pacific is projected to be a highly attractive market during the forecast period, with attractiveness index of 1.1. The region accounted for 41.7% share of the market in 2020. The sub-region's dominance can be attributed to the presence of China.
Based on type, the monoclonal antibodies segment held major market share in 2020. The segment's dominance can be attributed to increase in adoption of monoclonal antibodies for large unmet medical needs in the fields of oncology and autoimmune disorders.
Increase in Demand for Biopharmaceutical Contract Manufacturing Services: Key Driver
Countries in Asia are emerging as desirable outsourcing destinations for the biopharmaceutical industry. Low manufacturing and operating costs in China and India are the key drivers of the contract manufacturing market in Asia Pacific. Due to low labor wages, pharmaceutical companies in China can reduce their manufacturing costs by 30% to 35%. Moreover, favorable tax incentives and an undervalued currency are likely to drive the market in the region during the forecast period. Growth of the biopharmaceutical industry in China and India is projected to propel the biopharmaceutical contract manufacturing market in Asia Pacific.
Read Report Overview @ https://www.transparencymarketresearch.com/asia-pacific-biologics-contract-manufacturing-market.html
Growth of Vaccines Segment: Major Driver
The threat of new diseases and pandemics such as COVID-19 has spurred the development of biologic vaccines. Increase in incidence of infectious diseases is projected to drive the vaccines segment during the forecast period.
Asia Pacific Biologics Contract Manufacturing Market: Competition Landscape
Detailed profiles of biologics contract manufacturers have been provided in the biologics contract manufacturing market report to evaluate their financials, key product offerings, recent developments, and strategies.
Key providers of biologics contract manufacturing focus on designing advanced and cost-effective solutions to leading biopharmaceuticals organizations.
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Major companies operating in Asia Pacific biologics contract manufacturing markets are
Lonza Group
Samsung Biologics Co., Ltd.
Patheon by Thermo Fisher Scientific, Inc.
Cambrex Corporation
Siegfried Holding AG
Others
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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