Contract Pharmaceutical Fermentation Services Market: Competitive Landscape & Key Trends
Global Contract Pharmaceutical Fermentation Services Market: Overview
Pharmaceutical companies are increasing production facilities on a major scale given the increasing prevalence of diseases. As a large number of medicines today are manufactured by biological processes and techniques, it has become difficult to develop drugs in an isolated fashion.
Contract pharmaceutical fermentation services provide a space for pharma companies to develop drugs in a cost effective manner. They have infrastructure designed to provide efficient fermentation. A lot of drugs today are biologically derived from microbiota that can be genetically impregnated with the manufacturing plan for a specific drug. Fermentation accelerates this process, and hence is indispensable to pharmaceutical companies.
This is set to drive the global contract pharmaceutical fermentation services market on a high growth trajectory from 2020 to 2030, notes Transparency Market Research in its upcoming report. It also notes that gainful opportunities will arise in the landscape over this period.
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Global Contract Pharmaceutical Fermentation Services Market: Competitive Landscape
Various manufacturers are testing waters with contract pharmaceutical fermentation services owing to growing demand for cheaper drugs on a global level. It is pertinent to note here that due to presence of a large number of global manufacturers, the vendor landscape of globalcontract pharmaceutical fermentation services market is fragmented. Some of the key players in this market include:
- AbbVie, Inc.
- Aumgene Biosciences
- EKF Diagnostics – Stanbio
- Boehringer Ingelheim International GmbH
- CordenPharma International
- Fujifilm Holdings Corporation
These manufacturers are looking to grow market outreach by dabbling with robust and effective marketing strategies and entering alliances – mergers with and acquisition of smaller facilities that offer contractual fermentation.
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Global Contract Pharmaceutical Fermentation Services Market: Key Trends and Drivers
The pharmaceutical industry is expected to grow at a sturdy pace over the next few years. As the space for industrial infrastructure contracts and the world moves towards sustainable development, contractual services are set to find an increase in demand.
The World Health Organization’s estimates that 57% of the world population is suffering from one of many chronic diseases today. This should create a market for the pharmaceutical industry in the future. Also, the pharmaceutical industry is moving towards individualizing drugs by inserting a person's genes into a microorganism to derive unique drugs for that person. This is bound to increase demand for contract pharmaceutical fermentation services in the future.
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A minor hindrance to the growth of this market could be the rare occurrence of inflammatory reactions among biopharmaceutical consumers and subsequent bad press for this product. Since this can be overcome by stringent control on genetic engineering techniques, the contract pharmaceutical fermentation services market is anticipated to continue growing steadily in the future.
Global Contract Pharmaceutical Fermentation Services Market: Regional Analysis
North America and Europe are current leaders in global contract pharmaceutical fermentation services market because of a popular acceptance of leasing and contractual services in these regions, coupled with a healthcare expenditure that is notable. Also, the increased use of technology makes acceptance of biopharmaceuticals easier, giving impetus to the contract pharmaceutical fermentation services market.
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Additionally, it is worth noting here that healthcare services in the Asia Pacific region (APAC) are predicted to have notable potential for growth, providing a impetus to biopharmaceutical industry. As people become more aware about individual therapy, the demand for organic drugs and hence contract based fermentation services are anticipated to increase in the future.
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