Biopharmaceutical Manufacturing Market Size Worth US$ 690.7 Billion By 2028 | CAGR of 10.6%

According to the latest report by IMARC Group, titled "Biopharmaceutical Manufacturing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on biopharmaceutical manufacturing market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global biopharmaceutical manufacturing market size reached US$ 371.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 690.7 Billion by 2028, exhibiting a growth rate (CAGR) of 10.6% during 2023-2028.

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What are biopharmaceutical manufacturing?

Biopharmaceutical manufacturing involves the production of pharmaceutical products derived from biological sources, such as drugs and therapies. The process is characterized by a complex research and development (R&D) environment that incorporates cutting-edge technologies driven by scientific advancements. Various specialized jobs are involved in the production of biopharmaceuticals, including packaging and filling machine operators, blending and mixing machine setters, testers, inspectors, samplers, sorters, and chemical equipment operators. The production can be achieved through various methods, such as continuous and follow-on manufacturing systems. In the continuous system, raw materials are constantly fed into the process, while the finished product is extracted at the other end. In contrast, follow-on product development utilizes a combination of current and legacy bioprocessing technologies to establish a cost-effective drug manufacturing process.

What are the growth prospects and trends in the biopharmaceutical manufacturing industry?

The escalating demand for biologic drugs, including monoclonal antibodies, vaccines, and recombinant proteins that offer targeted and personalized treatment options for several diseases, is primarily driving the biopharmaceutical manufacturing market. Besides this, the elevating requirement for innovative and targeted therapies, owing to the high prevalence of chronic illnesses, such as cancer, diabetes, and autoimmune disorders, is further augmenting the market growth. Moreover, biopharmaceutical companies are outsourcing their manufacturing activities to specialized contract manufacturing organizations (CMOs) to access expertise, reduce costs, and focus on core competencies, which are also catalyzing the global market. Apart from this, advancements in biotechnology, including genetic engineering, cell culture technologies, and bioprocessing techniques, to enable the development of complex and highly effective biologic drugs are acting as significant growth-inducing factors. Furthermore, continuous improvements in production processes, such as single-use technologies, process automation, and advanced analytics to improve productivity, efficiency, and cost-effectiveness, and the increasing number of drug approvals are expected to bolster the biopharmaceutical manufacturing market in the coming years.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• F. Hoffmann-La Roche Ltd
• Amgen Inc.
• Novo Nordisk A/S
• AbbVie Inc.
• Groupe Sanofi
• Johnson & Johnson Services, Inc.
• Pfizer Inc.
• Merck & Co., Inc.
• Eli Lilly and Company
• Biogen Inc

Biopharmaceutical Manufacturing Market Segmentation:

Our report has categorized the market based on region, cell culture and class.

Breakup by Cell Culture:
• Mammalian
• Microbial

Breakup by Class:
• Monoclonal Antibodies
• Recombinant Proteins
• Interferon
• Granulocyte Colony-Stimulating Factor (G-CSF)
• Erythropoietin
• Recombinant Human Insulin
• Vaccines
• Human Growth Hormones (HGH)

Regional Insights:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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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.

This release was published on openPR.