Biopharmaceutical CMO and CRO Market Expected to Gain 7.4% CAGR by 2030
The global biopharmaceutical CMO and CRO market size is set to grow exponentially. It was valued at USD 31.17billion back in 2021 and is predicted to hit around USD 59.13 billion by 2030, according to Precedence Research.
The global biopharmaceutical CMO and CRO market is expected to grow at a burgeoning rate owing to the rapidly growing biopharmaceutical industry. The biopharmaceutical products are gaining rapid traction among the patients owing to the innovations and development of certain life-saving drugs. The previously non-curable diseases like cancers can be treated with the biopharmaceutical drugs with minimum or low side effects. The growing prevalence of various chronic diseases among the population is fueling the growth of the biopharmaceutical industry, which in turn is fostering the growth of the global biopharmaceutical CMO and CRO market.
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The presence of numerous contract manufacturers and contract researchers supports the manufacturing and research activities and contributes to the development of biopharmaceutical drugs for the treatment of various chronic diseases. The CMO and CRO services helps in curbing the costs of manufacturing and the biopharmaceutical companies can focus on other activities.
Market Size in 2030
Growth Rate from 2021 to 2030
CAGR of 7.4%
2021 to 2030
North America Market Share in 2020
- Based on service, the contract manufacturing segment accounted for a market share of around 58% in 2020 and led the market. The growing demand for the biopharmaceutical medicines at a rapid rate owing to the surging prevalence of various chronic diseases has propelled the growth of the contract manufacturing services.
- On the basis of source, the mammalian segment dominated the global biopharmaceutical CMO and CRO market in 2020, accounting for a market share of 54%. The rising importance of the mammalian cell structures in the research studies that facilitates the development of new vaccines, therapies, antibodies, and proteins in the biopharmaceutical industry.
- By product type, the biologics segment accounted for the largest revenue share in 2020. The biologic drugs are much more effective and safer for the treatment of various diseases. The effectiveness and safety of the biologics have resulted in the increased demand among the patients.
- North America was the largest revenue contributor with 34% of the market share in 2020. North America is the home to several top CMOs and CROs. The favorable government policies and heavy investments in the development of biopharmaceutical industry has fostered the growth of the North America biopharmaceutical CMO and CRO market. US holds the majority of the property rights for most of the newly developed drugs. The increased prevalence of diseases in the region has created a huge demand for the biopharmaceutical drugs, which has fueled the growth of the biopharmaceutical CMO and CRO market.
- Asia Pacific is expected to witness highest CAGR. The favorable government policies and the cheap availability of various factors of production is attracting FDIs in the region. The presence of several top CROs and CMOs in the region are facilitating the development of various drugs at cheap cost. Furthermore, the growing awareness among the population regarding the availability of new and innovative drugs is fueling the demand for the biologic and biosimilar drugs among the population. The presence of huge population, rising prevalence of chronic diseases, rapidly growing geriatric population, and rising healthcare expenditure are the prominent factors that are estimated to drive the growth of the biopharmaceutical CMO and CRO market in Asia Pacific region.
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Future of Biopharmaceutical CMO and CRO Market
The surging investments by the top biopharmaceutical companies in the research and development of various new drugs and therapies and the surging investments in the clinical trials is supporting the growth of the biopharmaceutical CMO and CRO market. The active participation of the government bodies such as FDA and EMA will play a significant role in the product approvals and in monitoring and standardization of the clinical trial processes.
COVID-19 Impact Analysis:
- The rapid spread of the COVID-19 infection attracted huge investments in the research and development of vaccine, drugs, and diagnosis therapies, which positively impacted the growth of the biopharmaceutical CMO and CRO market.
- The lockdown restrictions and closure of international boundaries created challenges for the CMOs in the procurement of raw materials in some regions.
- Favorable government support and investments helped the biopharmaceutical companies to accelerate the research activities related to the COVID-19 disease.
Key Developments in the Marketplace:
- In May 2019, Samsung Biologics signed a contract with GI Innovation for developing Immuno-chemotherapy. Samsung Biologics had to develop a drug using a combination of human microorganisms and protein drugs, under this contract.
Some of the key players in thebiopharmaceutical CMO and CRO market include:
- JRS Pharma
- Samsung Biologics
- CMC Biologics
- TOYOBO Co. Ltd.
- FUJIFILM Diosynth Biotechnologies
- WuXi Biologics
- PRA Health Sciences
- Contract Manufacturing
- Process Development
- Fill & Finish Operations
- Analytical & QC studies
- Process Development
- Contract Research
- Inflammation & Immunology
- Monoclonal antibodies (MABs)
- Recombinant Proteins
- Antisense, RNAi, & Molecular Therapy
By Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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