Press release
Biopharmaceutical CMO And CRO Market Set to Reach $45.9 Billion by 2029 with 6.6% Yearly Growth
Biopharmaceutical CMO And CRO Market
How Are the key drivers contributing to the expansion of the biopharmaceutical cmo and cro market?
The rising investment in research and development (R&D) is expected to propel the growth of the biopharmaceutical Contract Manufacturing Organization (CMO) and Contract Research Organization (CRO) market. Increased R&D spending, driven by the need for innovation, competitive pressures, and government incentives, enables CMOs and CROs to enhance manufacturing methods and research processes. This innovation attracts clients by providing cutting-edge solutions while maintaining regulatory compliance. According to Eurostat, the EU's R&D expenditure grew by 6.34% in 2022, reaching €352 billion ($384.42 billion), highlighting the growing investment in R&D that supports the biopharmaceutical sector.
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What growth opportunities are expected to drive the biopharmaceutical cmo and cro market's CAGR through 2034?
The biopharmaceutical CMO and CRO market has grown strongly, with expectations of increasing from $33.33 billion in 2024 to $35.6 billion in 2025 at a CAGR of 6.8%. Growth in the historic period was influenced by rising biopharmaceutical R&D investments, demand for innovative therapies, an expanding biologics pipeline, growth in biopharmaceutical production, and pharmaceutical companies outsourcing drug development.
The biopharmaceutical CMO and CRO market is expected to witness strong growth, reaching $45.89 billion by 2029 with a CAGR of 6.6%. Factors driving this expansion include increased outsourcing of drug development and manufacturing, a greater focus on cost-efficient production methods, an expanding range of therapeutic areas and drug pipelines, rising demand for personalized medicine, and heightened investments in biotechnology startups. Key trends in the forecast period include the increasing adoption of automated and high-throughput technologies, the use of advanced analytics and AI in drug development, rising demand for cell and gene therapies, greater integration of digital technologies in clinical trials, and increased outsourcing of complex biopharmaceutical processes.
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What are the emerging trends shaping the future of the biopharmaceutical cmo and cro market?
Leading companies in the biopharmaceutical CMO and CRO market are forming strategic partnerships to enhance services, improve efficiencies, and speed up drug development for biopharmaceutical companies. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual success. For example, in June 2024, Abzena plc., a UK-based biopharmaceutical company, teamed up with Argonaut Manufacturing Services Inc., a US-based contract manufacturing organization (CMO), to integrate drug development and manufacturing solutions for clients. This collaboration aims to provide accelerated, end-to-end drug development and manufacturing services, improving efficiency, reducing costs, and streamlining biopharmaceutical production.
Which growth-oriented segments of the biopharmaceutical cmo and cro market are leading the industry's development?
The biopharmaceutical cmo and cromarket covered in this report is segmented -
1) By Product: Biologics, Biosimilars
2) By Service Type: Contract Manufacturing, Contract Research
3) By Source: Mammalian, Non-Mammalian
Subsegments:
1) By Biologics: Monoclonal Antibodies (mAbs), Vaccines, Recombinant Proteins, Cell and Gene Therapies, Antibody-Drug Conjugates (ADCs), Therapeutic Enzymes
2) By Biosimilars: Biosimilar Monoclonal Antibodies, Biosimilar Insulins, Biosimilar Growth Hormones, Biosimilar Erythropoietins, Biosimilar Granulocyte Colony-Stimulating Factors (G-CSFs)
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What regions are leading the charge in the biopharmaceutical cmo and cro market?
North America was the largest region in the biopharmaceutical CMO and CRO market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biopharmaceutical CMO and CRO market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the biopharmaceutical cmo and cro market?
Major companies operating in the biopharmaceutical CMO and CRO market are Thermo Fisher Scientific Inc., Boehringer Ingelheim International GmbH, Eurofins Scientific SE, Lonza Group AG, Syneos Health Inc., Catalent Inc., Charles River Laboratories International Inc., Parexel International (MA) Corporation, Samsung Biologics Co. Ltd., CELLTRION INC., Medpace Holdings Inc., Fujifilm Diosynth Biotechnologies UK Limited, Almac Group, Pharmaron Beijing Co. Ltd., Worldwide Clinical Trials, KBI Biopharma, Inotiv Inc., Caidya, Rentschler Biopharma SE, Celerion Inc., TFS HEALTHCARE LIMITED
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What Is Covered In The Biopharmaceutical CMO And CRO Global Market Report?
•Market Size Forecast: Examine the biopharmaceutical cmo and cro market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the biopharmaceutical cmo and cro market for a structured understanding.
•Key Players Overview: Analyze major players in the biopharmaceutical cmo and cro market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the biopharmaceutical cmo and cro market.
•Segment Contributions: Evaluate how different segments drive overall growth in the biopharmaceutical cmo and cro market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the biopharmaceutical cmo and cro market.
•Industry Challenges: Identify potential risks and obstacles affecting the biopharmaceutical cmo and cro market.
•Competitive Landscape: Review strategic developments in the biopharmaceutical cmo and cro market, including expansions, agreements, and new product launches.
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