Biopharmaceutical Contract Manufacturing Market to Record Study Growth by 2030

Category: Business

Biopharmaceutical Contract Manufacturing Market is projected to be worth USD 32.4 billion by 2030, growing at a CAGR of 10.7%, claims Roots Analysis Owing to the complexities associated with the production of biologics, biopharmaceutical developers are likely to continue relying on contract service providers for various aspects of their respective product development programs London Roots Analysis has announced the addition of the “Biopharmaceutical Contract Manufacturing Market, (4th Edition), 2020-2030” report to its list of offerings. Given the rising popularity of biologics and the 8,000+ such product candidates under clinical investigation, the opportunity for contract manufacturing service providers engaged in this domain, is high and anticipated to persist in the mid-long term, as well. In fact, since 2000, over 120 new CMOs have been established, offering a variety of cost-efficient manufacturing services and solutions to biologic developers. Key Market Insights Presently, 225 CMOs, possessing over 380 manufacturing facilities, claim to offer manufacturing services for biopharmaceutical products The manufacturing services market for biopharmaceuticals is highly fragmented, featuring a mix of small, mid-sized, large and very large players. It is worth mentioning that more than 60% of CMOs mentioned in the report, have the necessary capabilities to manufacture biologics across all scales of operation. More than 65% of service providers offer manufacturing services for recombinant proteins and peptides Close to 58% of CMOs claim to have the required capabilities to offer antibody manufacturing services. It is worth mentioning that a number of biologics manufacturers are presently offering services related to the niche and emerging classes of biologics. Over 620 partnerships were established in this domain, during the period 2015-2020 Majority of the deals (~24%) recorded in the report, were established in 2020, primarily driven by the investigational biologic drugs against COVID-19. Further, a large number (~35%) of the partnerships were observed to be focused on the manufacturing of biologics, followed by product development and manufacturing agreements (22%). Currently, the installed biopharmaceutical contract manufacturing capacity is estimated to be ~3.9 million liters, which is gradually being expanded In order to meet the growing demand for biologics, 177 expansion projects were undertaken by CMOs between 2016 and 2020 Of the aforementioned initiatives, more than 40% were focused on the establishment of new facilities, followed by the expansion of existing manufacturing facilities (24%). North America and Europe are anticipated to capture 75% share (in terms of service revenues) of the market, by 2030 At present, close to 90% of the total revenues are generated from projects involving commercialized biologic products, and this trend is unlikely to change significantly in the short to mid-term. Further, it is worth mentioning that the contract biomanufacturing market for biologics in the Middle East and North Africa is anticipated to grow at a relatively faster rate (13.6%), followed by the Asia-Pacific market (11.2%). Ask for Customization: https://www.rootsanalysis.com/reports/250/request-customization.html