Biologics Contract Manufacturing Market is Projected to Reach US$ 51.81 Billion by 2034 at a 9.4% CAGR | Fact.MR Report

The size of the global biologics contract manufacturing market is estimated at US$ 21.19 billion in 2024, according to a new Fact.MR industry report. Global demand for biologics contract manufacturing is expected to increase at a significant 9.4% CAGR and reach a market value of US$ 51.81 billion by the end of 2034.

Rising instances of chronic diseases and a move towards personalized drugs are expected to fuel the demand for biologic drugs, in turn, creating demand for contract manufacturing services.

Ongoing technological advancements happening in biotechnology, particularly in areas of cell culture technologies, protein expression systems, and genetic engineering, are expected to enhance the complexity of manufacturing biological drugs and increase their application scope, thereby generating the demand for expert manufacturing.

Most biopharmaceutical companies prefer contract manufacturing in order to limit capital outlays in buildings. Additionally, they are laying considerable emphasis on the development of more facilities in order to augment their capacity.

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Key Takeaways from Market Study:

Global biologics contract manufacturing market to grow from US$ 21.19 billion in 2024 to US$ 51.81 billion by 2034 at 9.4% CAGR.
Canada market to expand at a CAGR of 8.2% from 2024 to 2034.
East Asia market share projected at 5.3% by 2034.
Monoclonal antibodies segment to grow at 8.3% CAGR from 2024 to 2034.
Oncology segment market share expected to reach 23.8% by 2034.

Leading Players Driving Innovation in the Biologics Contract Manufacturing Market:

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

What Drives High Demand for Contract Manufacturing of Biologics?

The biopharmaceutical CMO market is likely to expand and consolidate with companies following strategies to provide end-to-end solutions to customers. Continued scientific innovation in biopharmaceuticals is likely to offer opportunities for high-potential players.

For example :

AGC Biologics, in July 2020, completed the acquisition of Molecular Medicine S.p.A. to complement its capabilities in gene therapy and plasmid production services. The revenue stream of the company is likely to be affected by the presence of firms that have advanced biologic and biosimilar manufacturing facilities.

Emphasis on reducing the cost of operations by commercializing biopharmaceuticals and R&D outsourcing for product innovations is expected to improve operational efficacy. Moreover, outsourcing during the later stages of clinical development with the help of appointment and identification of a strategic partner is expected to enhance the value chain effectiveness.

The new model of CDMO business, disruptive pharmaceutical development, disruption occurring in the pharma ecosystem, and biopharmaceutical manufacturing expansion are anticipated to lead to growth opportunities in the market during the coming decade.

Browse Full Report: https://www.factmr.com/report/biologics-contract-manufacturing-market

Biologics Contract Manufacturing Market News:

Abzena Limited, in November 2021, set up a partnership with BiVictriX Therapeutics Plc. for the manufacture of BiVictriX's ADC (antibody-drug conjugates).

More Valuable Insights on Offer:

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The Biologics Contract Manufacturing Market is segmented based on product, platform, therapeutic area, application, and region. By product, the market includes monoclonal antibodies, recombinant proteins, insulin, vaccines, interferons, growth factors, and others.

The platform segment is divided into mammalian and microbial systems. In terms of therapeutic area, the market caters to oncology, metabolic diseases, autoimmune diseases, ophthalmology, infectious diseases, cardiovascular diseases, neurology, respiratory disorders, and other medical conditions.

Based on application, biologics contract manufacturing is categorized into commercial and clinical uses. Geographically, the market is segmented into North America, Europe, East Asia, Latin America, the Middle East & Africa, and South Asia & Oceania, reflecting the global demand and expansion of biologics manufacturing services.

Check out More Related Studies Published by Fact.MR Research:

Antibody Contract Manufacturing Market - https://www.factmr.com/report/antibody-contract-manufacturing-market

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Contract Pharmaceutical Fermentation Services Market - https://www.factmr.com/report/1517/contract-pharmaceutical-fermentation-services-market

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