Reduced overall time to market investment in new drugs, access to expensive technologies, and greater flexibility are some advantages offered by biopharmaceutical manufacturing companies.
Reduced overall time to market investment in new drugs, access to expensive technologies, and greater flexibility are some advantages offered by biopharmaceutical manufacturing companies. On the back of these factors, several large companies have outsourced their biopharmaceutical manufacturing operations. Biopharmaceutical contract manufacturing is highly preferred among biopharmaceutical companies with limited in-house production capacity. Pharmaceutical companies mainly focus on core areas of competence, and hence, do not prefer to take financial risks in the event of formulating the final dose of medicines. This is anticipated to accelerate the growth of the global biopharmaceutical contract manufacturing market during forecast period, estimated to be valued at US$ 17 Bn by 2029.
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Key Takeaways of Biopharmaceutical Contract Manufacturing Market Study
- Although microbial-based platforms are abundantly used for the production of pharmaceuticals, mammalian-based cell culture is expected to gain traction during the forecast period, owing to higher efficiency and increasing demand.
- In terms of product type, monoclonal antibodies currently hold a larger share of the biopharmaceutical contract manufacturing market, due to their superior efficacy as well as increasing adoption for the treatment of chronic diseases.
- North America is anticipated to be the most lucrative region in the global biopharmaceutical contract manufacturing market, offering growth opportunities to market players.
- The commercial application of biopharmaceutical contract manufacturing is expected to contribute a higher share as compared to clinical application by the end of 2029.
Biopharmaceutical Contract Manufacturing Market
Competitive Landscape of Biopharmaceutical Contract Manufacturing Market
Key players in the biopharmaceutical contract manufacturing market are now focusing on geographic expansion through mergers and acquisitions. In October, 2017, Catalent Inc. acquired Catalent Indiana, earlier called Cook Pharmacia, LLC., which was an integrated provider of drug products and drug substance and related services. Further, leading players in the biopharmaceutical contract manufacturing market are also involved in different industrial developmental activities to expand their service offerings. For instance, in 2016, Sandoz International GmbH entered into an agreement with Kyowa Hakko Kirin Co., Ltd. for the promotion and distribution of its monoclonal antibody biosimilar – Rituximab, in Japan.
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