Press release
Biopharmaceutical CMO Market Report 2024: Strategies And Recent Developments | Lonza Group AG, Fujifilm Diosynth Biotechnologies USA Inc., Thermo Fisher Scientific Inc., Samsung BioLogics
Biopharmaceutical CMO Market Size
The Business Research Company offers in-depth market insights through Biopharmaceutical CMO Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The biopharmaceutical cmo market size has grown rapidly in recent years. It will grow from $21.72 billion in 2023 to $24.68 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to increasing demand for biopharmaceuticals, globalization, rise in healthcare expenditure, regulatory support, increased research funding.
The biopharmaceutical cmo market size is expected to see rapid growth in the next few years. It will grow to $41.87 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to rise in telehealth and remote trials, global health initiatives, rise in disposable income, global health initiatives. Major trends in the forecast period include advanced therapies dominance, digitalization and industry 4.0, continuous manufacturing, sustainability and green practices.
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Market Segmentation:
The main types of biopharmaceutical CMO products includes biologics and biosimilars. The biologics are used to produce a wide range of products derived from human, animal, or microbial sources as biologic medications. Biologics are substance made from living things or contains some components of them. Vaccines, blood, blood components, cells, allergies, genes, tissues, and recombinant proteins are some of the biologic medications. The biopharmaceutical CMO products comes from various sources including mammalian and non-mammalian. The biopharmaceutical CMO services includes manufacturing, fill and finish operations, analytical and qc studies, and packaging.
Major Driver - Robust Venture Capital Investments Fuel Biopharmaceutical Cmo Market Growth
An increase in the robustness of venture capital investments for the life science sector is expected to propel the growth of the biopharmaceutical CMO market. The life sciences sector refers to the businesses and organizations that conduct research and development on living beings. The robustness of venture capital investments is a feature describing the capacity of a model, test, or system to function correctly when its parameters or presumptions are changed. As the investment in the life science sector increases, there will be an increase in the manufacturing of biopharmaceuticals. For instance, in September 2021, according to JLL, a US-based company specializing in investment consultancy, the record amount of venture capital was raised in the UK over the last three months, with £1.9 billion raised between 1 June and 26 August 2021. This incredible investment brings the UK total for 2021 to £4.25 billion ($5.787 billion) YTD, up from £2.8 billion in 2020. Therefore, an increase in the robustness of venture capital investments for the life science sector is driving the biopharmaceutical CMO market growth.
Competitive Landscape:
Major companies operating in the biopharmaceutical cmo market include Lonza Group AG, Fujifilm Diosynth Biotechnologies USA Inc., Thermo Fisher Scientific Inc., Samsung BioLogics Co. Ltd., WuXi Biologics Co. Ltd., Lonza Ltd., JRS Pharma Group, CMC Biologics AS, Catalent Inc., Boehringer Ingelheim GmbH, Rentschler Biopharma SE, AGC Biologics Inc., Abzena Ltd., AbbVie Inc., AstraZeneca plc, Bayer AG, Biogen Inc., Bristol-Myers Squibb Co., Eli Lilly and Company, Gilead Sciences Inc., GlaxoSmithKline plc, Johnson & Johnson, Merck & Co., Novartis AG, Pfizer Inc., Roche Holding Ag, Sanofi SA, Takeda Pharmaceuticals Co., Teva Pharmaceutical Industries Ltd., Vertex Pharmaceuticals Company, Moderna BioTechnology Company
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Top Trend - Biopharmaceutical CMO Market Embraces Iot Technology Advancements
Technological advancement is a key trend gaining popularity in the biopharmaceutical CMO market. Major companies in the biopharmaceutical CMO market are advancing in their new technologies and research and development using Iot. The Internet of Things (IoT) refers to the application of networked sensors and actuators to regulate and observe the environment, the objects that move within it, and the people who act within it. A vast amount of data can be produced by sensors, actuators, and other components integrated into manufacturing machinery and networked computer systems. The data can be analyzed for insights and opportunities to increase production efficiency, automate monitoring and controlling tasks, and enable adaptable manufacturing systems. For instance, in February 2022, M2Cloud, a Korea-based bio-cold chain technology company, along with Thales, a France-based company specializing in IoT communication modules, developed an IoT-based LTE monitoring system for biopharmaceutical monitoring. It is helpful in the real-time monitoring of freezers, refrigerated warehouses, etc., along with tracking the delivery boxes being delivered in real-time. It can remotely verify temperature and position information in real time by just turning on the power. With technologies designed for biopharmaceutical management, it increases the safety of pharmaceutical products.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Biopharmaceutical CMO Market Characteristics
3. Biopharmaceutical CMO Market Trends And Strategies
4. Biopharmaceutical CMO Market - Macro Economic Scenario
5. Biopharmaceutical CMO Market Size And Growth
…..
27. Biopharmaceutical CMO Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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