Manufacturers adapting unique strategies and collaborations with local integrators are creating wide opportunities for future prospects
Manufacturers adapting unique strategies and collaborations with local integrators are creating wide opportunities for future prospects
Fact.MR, Dubai: Fact.MR’s report on global contact pharmaceutical fermentation services market exhibits a steady growth in 2021. According to the report, the penetration of advanced bio-technology is increasing and pharmaceutical companies are collaborating with fermentation services, creating the growth prospects.
Fact.MR study reveals that the drug commercialization with contract manufacturing organizations are creating bulk productions and the increasing R&D activities is driving the growth of contract pharmaceutical fermentation services
Furthermore, the growing prevalence of wide range of disease such as cancer, diabetes, cardiovascular diseases, rheumatoid arthritis, hemophilia, and others are prompting a high demand for the high production of time-efficient drug development, bolstering the growth of the market.
“Leading players are focusing in luring the pharmaceutical companies by integrating advanced biotechnology and investing in research and development activities in diverse applications,” says the Fact.MR analyst.
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Key Takeaways
- Contract pharmaceutical fermentation services to exceed US$ 4 Bn by 2026
- North America to dominate the market backed by high presence of pharmaceutical industries
- By products, biotherapeutics to lead the market, followed by vaccines
- Biotechnology companies expected to emerge as a potential end-user
- Peptides and plasmids to growth to be sluggish through 2021
Prominent Drivers
- Rising demand for biosimilar and biologic manufacturing to provide growth opportunities for manufacturers, bolstering the growth
- Diverse application of Contract Pharmaceutical Fermentation Services procedures in developing time-efficient drug development to create growth prospects
- Amid surging production, pharmaceutical companies collaborating with contract pharmaceutical fermentation services to foster the sales
Key Restraints
- Lack of advanced therapy medicinal products and facility to hinder the growth of the market
- High capital investments and lack of technical staff facilities creating a challenge for manufacturers, hampering sales
Discover more about the Contract Pharmaceutical Fermentation Services market with figures, data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/1517/Contract Pharmaceutical Fermentation Services-market
Competitive Landscape
AbbVie, Inc., Aumgene Biosciences, EKF Diagnostics-Stanbio, Boehringer Ingelheim International GmbH, Biocon, AMRI, Pfizer, Lonza, CordenPharma International, and Fujifilm Holdings Corporation are some of the manufacturers profiled by Fact.MR. According to the study, the market is fragmented in nature and key players are focusing on strategies such as R&D and mergers and acquisition for future growth prospects.
In March 2021, AbbVie Inc., announced the extension of review of supplemental new drug application of Upadacitinib for the treatment of adults with active psoriatic arthritis. The research and development-based biopharmaceutical company announced that the FDA has extended the review period and are expected to initiate the research on other immune-meditated diseases.
Likewise, another leading player, Boehringer Ingelheim International GmbH and the Lieber Institute for Brain Development announced a collaboration and new research focused on development of novel centrally acting COMT (catechol-O-methyltransferase) inhibitors for the potential treatment of cognitive deficits in a spectrum of neuropsychiatric disorders, including schizophrenia, advancing the revenues.
More Insights on the Contract Pharmaceutical Fermentation Services Market
In its latest report, Fact.MR offers unbiased analysis of the global Contract Pharmaceutical Fermentation Services market. The report divulges essential insights on Contract Pharmaceutical Fermentation Services market on the basis of platform (bacterial and fungal/yeast), service type (development services and commercial services), product type (biotherapeutics, enzymes, peptides, plasmids, cytokines & growth factors, vaccines and others), end-user (pharmaceutical companies, biotechnology companies, animal health companies, and animal health companies institutes), and regions (North America, Latin America, Europe, Japan, APEJ, and Middle East and Africa)
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Source: Fact.MR