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Demand for Biologics Contract Manufacturing Market is forecasted to reach a value of US$ 51.81 billion by 2034

02-19-2024 03:55 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

Demand for Biologics Contract Manufacturing Market

The biologics contract manufacturing market (生物製剤受託製造市場) is projected to reach a size of US$ 21.19 billion in 2024, according to a recent industry report by Fact.MR. The global demand for biologics contract manufacturing is expected to grow at a significant compound annual growth rate (CAGR) of 9.4%, reaching a market value of US$ 51.81 billion by 2034.

The biologics contract manufacturing market is experiencing robust growth, driven by the increasing demand for biopharmaceuticals, advancements in biotechnology, and the complexities of in-house manufacturing. Biologics, which include vaccines, monoclonal antibodies, and cell therapies, are highly complex molecules that require specialized manufacturing processes. Contract manufacturing organizations (CMOs) play a crucial role in the production of biologics, providing expertise, capacity, and flexibility to biopharmaceutical companies.

For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=9572

Market Dynamics

One of the key drivers of the biologics contract manufacturing market is the growing pipeline of biologics. As more biopharmaceutical companies focus on developing biologics to address unmet medical needs, the demand for contract manufacturing services is expected to increase. Additionally, the complexity of biologics production, including the need for specialized equipment and expertise, makes outsourcing an attractive option for many companies.

Another important factor driving market growth is the cost-effectiveness of contract manufacturing. Establishing and maintaining a biologics manufacturing facility can be extremely expensive, requiring significant investments in infrastructure, equipment, and personnel. Outsourcing allows companies to avoid these costs and focus on their core competencies, such as research and development and marketing.

List of Key Companies Profiled in The Report

Lonza Group AG
BioXcellence
Samsung Biologics
AbbVie CM
Fujifilm Diosynth Biotechnologies
AGC Biologics
Patheon N.V.
Ajinomoto Bio-Pharma
Emergent BioSolutions Inc.
Avid Bioservices, Inc.
Rentschler Biotechnologies GmbH
KBI Biopharma
Merck KGaA
Novasep
Therapure Biopharma Inc.
Abzena Plc.
ProBioGen AG

Market Future Outlook

The biologics contract manufacturing market is poised for continued growth in the coming years. Factors such as the increasing prevalence of chronic diseases, advancements in biotechnology, and the growing demand for personalized medicine are expected to drive market expansion. Additionally, the COVID-19 pandemic has highlighted the importance of biologics in healthcare, further fueling demand for contract manufacturing services.

Market Insights

North America is the largest market for biologics contract manufacturing, driven by the presence of a large number of biopharmaceutical companies and a well-developed healthcare infrastructure. Europe is also a significant market, with countries like Germany, Switzerland, and the UK leading the way in biologics manufacturing. Asia Pacific is expected to witness the fastest growth, fueled by increasing investments in biotechnology and a growing demand for biologics in countries like China and India.

Want Full Report? Enquire Here- https://www.factmr.com/report/biologics-contract-manufacturing-market

Recent Developments

Major players in the market are emphasizing their global distribution networks to drive revenue growth. Additionally, they are investing in supply chain management, new developments, and product quality.

For example, in November 2021, Abzena Limited partnered with BiVictriX Therapeutics Plc. to manufacture BiVictriX's antibody-drug conjugates (ADCs).

Explore More Related Studies Published by Fact.MR Research:

Long-Acting Insulin Market (持効型インスリン市場): https://www.factmr.com/report/long-acting-insulin-market

Biological Drug Market (生物学的製剤市場): https://www.factmr.com/report/biological-drug-market

Monoclonal Antibodies Market (モノクローナル抗体市場): https://www.factmr.com/report/monoclonal-antibodies-market

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