Press release
Market Forecast News: Biopharmaceutical CDMO to Hit $34.15B by 2030
Browse 422 market data Tables and 57 Figures spread through 380 Pages and in-depth TOC on "Biopharmaceutical CDMO Market - Global Forecasts to 2030
In the near future, the biotechnology contract manufacturing industry is poised for unprecedented growth and innovation. With a burgeoning demand for personalized medicines, advanced biologics, and cutting-edge therapies, contract manufacturing organizations (CMOs) will play a pivotal role in expediting drug development and production. This industry's landscape will witness the convergence of state-of-the-art bioprocessing technologies, such as continuous manufacturing and gene editing, allowing for more efficient and scalable production of biopharmaceuticals. Furthermore, the rise of sustainable and eco-friendly bioprocessing techniques will align with global environmental concerns. Collaborations between CMOs, biotech startups, and pharmaceutical giants will become increasingly common, fostering a dynamic ecosystem that accelerates the delivery of life-saving therapies to patients worldwide. As regulatory frameworks adapt to accommodate these advancements, the biotechnology contract manufacturing sector is on the cusp of a transformative era, revolutionizing healthcare and shaping the future of medicine.
Biotechnology Contract Manufacturing Market [https://www.marketsandmarkets.com/Market-Reports/biotechnology-ccontract-manufacturing-market-163964739.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr] in terms of revenue was estimated to be worth $16.6 billion in 2023 and is poised to reach $24.8 billion by 2028, growing at a CAGR of 8.3% from 2023 to 2028 according to a new report by MarketsandMarkets Trademark . The growth of this market is driven by the rising demand for biologics and biosimilars, increasing outsourcing of biologics manufacturing among biopharmaceutical companies, growing focus on personalized medicine, increasing collaborations between pharmaceutical companies and biologics contract manufacturers, and advancements in manufacturing technologies. Additionally, the rising demand for cell & gene therapies and the expansion of biologics manufacturing capacities by CMOs will provide growth opportunities in the biotechnology contract manufacturing market.
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Biotechnology Contract Manufacturing Market Scope:
Report Coverage
Details
Market Revenue in 2023
$16.6 billion
Estimated Value by 2028
$24.8 billion
Growth Rate
Poised to grow at a CAGR of 8.3%
Market Size Available for
2021-2028
Forecast Period
2023-2028
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Service, Type, Source, Scale of Operation, Molecule Type, Therapeutic Area, and Region
Geographies Covered
North America, Europe, Asia Pacific, Latin America (LATAM), and Middle East and Africa (MEA)
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Rising demand for cell therapies and gene therapies
Key Market Drivers
Increasing biologics manufacturing outsourcing trend among biopharmaceutical companies
The monoclonal antibody segment accounted for the largest share by molecule type in the biotechnology contract manufacturing market in 2022.
By molecule type, the biotechnology contract manufacturing market has been further categorized as monoclonal antibodies, cell therapy & gene therapy, antibody-drug conjugates, vaccines, therapeutic peptides & proteins, and other molecule types. The monoclonal antibodies segment held the largest share of the global biotechnology contract manufacturing market in 2022. This can be attributed to the growing demand for targeted therapies in the treatment of chronic diseases, increasing government initiatives for the development of monoclonal antibody drugs, and the growing number of mAb product candidates currently in development.
The mammalian expression segment accounted for the largest share of the biotechnology contract manufacturing market by source in 2022.
Based on the source, the global biotechnology contract manufacturing market has been segmented into mammalian expressions and non-mammalian expressions. The mammalian expression segment held the largest market share in 2022. The large share of this segment can be attributed to the high sensitivity of this system, its wide usage in the manufacturing of biopharmaceuticals, the growing number of approved biologics based on mammalian expression systems, and the expansion of mammalian-based cell culture capacity by CMOs.
North America region accounted for the dominant share of the biotechnology contract manufacturing market in 2022.
The biotechnology contract manufacturing market in North America has experienced significant growth in recent years. The strong pharmaceutical and biotech industry, the presence of a well-established pharmaceutical industry, the rising demand for biosimilars and biologics, and the increasing outsourcing of manufacturing services by pharmaceutical & biopharmaceutical companies contribute to the growth of the biotechnology contract manufacturing market in the North American region. Additionally, the presence of highly advanced manufacturing technologies makes this region an attractive market for contract manufacturing organizations (CMOs).
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Biotechnology Contract Manufacturing Market Dynamics:
Drivers:
* Rising demand for biologics and biosimilars
* Increasing outsourcing of biologics manufacturing among biopharmaceutical companies
* Growing focus on personalized medicine
* Increasing collaborations between pharmaceutical companies and biologics CMOs
* Advancements in manufacturing technologies
Restraints:
* Intellectual property rights issues
Opportunities:
* Rising demand for cell and gene therapies
* Significant growth opportunities offered by emerging countries
* Expansion of biologics manufacturing capacities by CMOs
* Strong emphasis on drug development
Challenge:
* Complying with regulatory reforms
Key Market Players:
Key players in the biotechnology contract manufacturing market include Lonza (Switzerland), Thermo Fisher Scientific Inc. (US), Catalent, Inc. (US), Samsung Biologics (South Korea), WuXi Biologics (China), Boehringer Ingelheim International GmbH (Germany), FUJIFILM Holdings Corporation (Japan), AbbVie, Inc. (US), Eurofins Scientific (Luxembourg), GenScript Biotech Corporation (US), AGC Inc. (Japan), Merck KGaA (Germany), JSR Corporation (Japan) and among others.
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Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
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Table of Contents:
Table of Contents
1 Study Coverage
1.1…
