WASHINGTON, Sept. 07, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the Global Vaccine Contract Manufacturing Market has been rapidly growing over the years due to increased demand for vaccines and the need for efficient and cost-effective production processes.
According to Vantage Market Research, the global Vaccine Contract Manufacturing Market is estimated to be valued at USD 7.4 Billion by 2030 and is expected to exhibit a CAGR of 11.5% from 2023 to 2030. The global Vaccine Contract Manufacturing market grew to USD 3.1 Billion in 2022.
Vaccine Contract Manufacturing involves outsourcing the production of vaccines to third-party manufacturers. These manufacturers have the expertise and facilities to produce vaccines on a large scale. They follow the required quality standards and regulations set by the authorities. Vaccine Contract Manufacturing enables pharmaceutical companies to increase their production capacity, meet the vaccine demand, and expedite the development and distribution process. It allows better resource utilization and helps reduce costs and risks associated with in-house manufacturing.
Get Access to Free Sample Research Report with Latest Industry Insights @ https://www.vantagemarketresearch.com/vaccine-contract-manufacturing-market-2269/request-sample
Key Highlights
- Based on Vaccine Type, demand for Inactivated Vaccines is projected to surge, leading to significant growth in the Vaccine Contract Manufacturing market from 2023 to 2030.
- Among various Service Types, the Fill-Finish segment is expected to dominate the global market share from 2023 to 2030.
- Across the globe, the single vaccine segment is poised to hold the largest market share from 2023 to 2030.
- In 2022, North America emerged as the market leader with the highest revenue share of 42.50%
- The Asia-Pacific region is anticipated to exhibit substantial growth at a high Compound Annual Growth Rate (CAGR) from 2023 to 2030
The Vaccine Contract Manufacturing industry is a pivotal player in the production and distribution of vaccines. It encompasses a network of specialized facilities and expertise that ensure quality and efficient manufacturing processes. This industry is crucial in meeting the global demand for safe and effective vaccines through strategic partnerships and collaborations.
Top Companies in The Global Vaccine Contract Manufacturing Market
- Ajinomoto Co. Inc. (Japan)
- Albany Molecular Research Inc. (U.S.)
- Catalent Inc. (U.S.)
- Cobra Biologics Limited (UK)
- Cytovance Biologics Inc. (U.S.)
- Fujifilm Holdings Corporation (Japan)
- ICON PLC (Ireland)
- IDT Biologika GmbH (Germany)
- Lonza Group AG (Switzerland)
- Merck KGaA (Germany)
- Pharmaceutical Product Development LLC (U.S.)
- PRA Health Sciences Inc. (U.S.)
To Know an Additional List of Key Players, Request Here to Download a Free Report PDF Brochure: https://www.vantagemarketresearch.com/vaccine-contract-manufacturing-market-2269/request-sample
OR
Enjoy a Fabulous 50% Discount with code "SEP50"! Don't miss out on these incredible savings @ https://www.vantagemarketresearch.com/buy-now/vaccine-contract-manufacturing-market-2269/0
Factors affecting the growth of the Vaccine Contract Manufacturing Industry
Several factors can affect the growth of the Vaccine Contract Manufacturing industry. Some of these factors include:
- Increasing demand for vaccines: With the increasing prevalence of infectious diseases and the need for preventive healthcare, the demand for vaccines is expected to grow. This will drive the growth of the VCM industry as pharmaceutical companies outsource the manufacturing of vaccines to specialized contract manufacturing organizations.
- Technological advancements: Advances in vaccine manufacturing technology can significantly impact the growth of the VCM industry. New technologies can improve vaccine production efficiency, safety, and speed, making contract manufacturing an attractive option for pharmaceutical companies. For example, the emergence of cell culture-based production methods and recombinant DNA technology has revolutionized vaccine manufacturing.
- Globalization and outsourcing trends: The globalization of the pharmaceutical industry has led to increased outsourcing of vaccine manufacturing to contract manufacturing organizations. Outsourcing allows pharmaceutical companies to focus on their core competencies while leveraging the expertise and infrastructure of contract manufacturers.
- Cost savings and flexibility: The VCM industry offers cost savings and flexibility to pharmaceutical companies. Contract manufacturers can leverage economies of scale and specialized expertise to produce vaccines more efficiently and at a lower cost compared to in-house manufacturing.
Top Trends in the Global Vaccine Contract Manufacturing Market
The growing demand for vaccines across the globe has led to an increased focus on Vaccine Contract Manufacturing. This trend is driven by factors such as the need for efficient production processes, cost reduction, and the complexity of vaccine development. Contract manufacturing organizations are now vital in meeting the vaccine demand and ensuring their timely availability. With the ongoing COVID-19 pandemic, the global Vaccine Contract Manufacturing market is expected to grow significantly in the coming years.
Buy this Premium Research Report with Discount | Immediate Delivery @ https://www.vantagemarketresearch.com/buy-now/vaccine-contract-manufacturing-market-2269/0
Recent Development of the Global Vaccine Contract Manufacturing Market
- In August 2022, Moderna partnered with the Canadian government to establish an mRNA vaccine manufacturing facility in Canada, location to be determined. This collaboration aims to provide Canadians with domestically produced mRNA vaccines targeting respiratory illnesses, including SARS-Cov-2, influenza, and respiratory syncytial virus.
- In June 2022, Merck and Agilent Technologies joined forces to enhance downstream processing through collaborative advancements in process analytical technologies, addressing existing gaps.
Market Drivers
The Vaccine Contract Manufacturing market has witnessed significant growth in recent years, driven by factors such as the increasing demand for vaccines, the need for cost-effective production, and the complexity of vaccine manufacturing processes. Contract manufacturing allows pharmaceutical companies and government agencies to focus on their core competencies while leveraging the expertise and capabilities of contract manufacturers.
Contract manufacturing organizations (CMOs) offer a wide range of services in the vaccine manufacturing process, including cell line development, fermentation, purification, and formulation. They also provide quality control, regulatory compliance, and logistics services. Some CMOs specialize in specific types of vaccines, such as viral, bacterial, or recombinant vaccines, while others offer a broader range of capabilities. Furthermore, the increased focus on vaccine production capacity by governments and public health organizations worldwide is driving the growth of the Vaccine Contract Manufacturing market. Governments recognize the importance of robust vaccine manufacturing capabilities to respond effectively to outbreaks and pandemics. This has resulted in funding initiatives and partnerships to expand vaccine manufacturing capacity, which in turn is driving demand for contract manufacturing services.
Market Restraints
The Vaccine Contract Manufacturing market faces several restraints hamper its growth and development. One major constraint is the stringent regulatory requirements and compliance standards imposed by government bodies. These regulations often result in lengthy approval processes, production delays, and increased manufacturer costs. Additionally, some regions' limited availability of skilled workforce and infrastructure restricts the market's expansion. Furthermore, the complexity of vaccine manufacturing and the need for specialized facilities and equipment pose additional challenges to contract manufacturers.
Market Opportunities
The Vaccine Contract Manufacturing market is witnessing significant growth opportunities. With the increasing demand for vaccines, governments and pharmaceutical companies are looking to outsource the manufacturing process to specialized contract manufacturing organizations (CMOs) to meet production targets and reduce costs. This trend is creating immense opportunities for CMOs to expand their capabilities and infrastructure and collaborate with vaccine developers and manufacturers to ensure a streamlined supply chain. The ongoing COVID-19 pandemic has also propelled the need for global vaccine manufacturing partnerships, further boosting the market's growth prospects.
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on Vaccine Contract Manufacturing Market Forecast Report (2023-2030).
Report Segmentation of the Global Vaccine Contract Manufacturing Market
Vaccine Type Analysis
Inactivated vaccines dominated the market with the largest market share because they are widely used to prevent various infectious diseases. The global Vaccine Contract Manufacturing market is based on vaccine types segmented into subunit vaccines, live attenuated vaccines, conjugate vaccines, inactivated vaccines, recombinant vector vaccines, toxoid vaccines, and synthetic vaccines. Furthermore, the dominance of inactivated vaccines can be attributed to their long-standing use, well-established manufacturing processes, and widespread demand. Additionally, their stability and ability to provide long-lasting immunity further contribute to their popularity in the Vaccine Contract Manufacturing market.
Service Type Analysis
The fill-finish segment dominated the largest market share. It will dominate in the forecast period because it plays a crucial role in the vaccine manufacturing process as it involves the final formulation and packaging of vaccines. This process ensures proper dosage, labeling, and sterility of the vaccine, making it ready for distribution and administration. With the increasing demand for vaccines globally, the fill-finish segment is expected to witness significant growth in the forecast period. Additionally, advancements in technology and the need for outsourcing vaccine production by pharmaceutical companies further drive the growth of the Vaccine Contract Manufacturing market in the fill-finish segment.
Product Type Analysis
Single Vaccines dominated the most significant share due to high demand and widespread use of vaccines for diseases such as influenza, measles, and hepatitis. The global Vaccine Contract Manufacturing market is based on product type analysis segmented into single and combination vaccines. Furthermore, single vaccines are designed to target a particular pathogen and are typically administered as a one-time dose. This makes them highly convenient and cost-effective compared to combination vaccines, which offer protection against multiple diseases. Single vaccines also allow for a more targeted approach in production, as manufacturers can focus on the specific antigen needed for the vaccine. As a result, single vaccines have gained significant popularity in the healthcare industry, leading them to dominate the largest share in the Vaccine Contract Manufacturing market.
Read Full Report with TOC @ https://www.vantagemarketresearch.com/industry-report/vaccine-contract-manufacturing-market-2269
Global Vaccine Contract Manufacturing Market Segmentation
By Vaccine Type
- Subunit Vaccines
- Live Attenuated Vaccines
- Conjugate Vaccines
- Inactivated Vaccines
- Recombinant Vector Vaccines
- Toxoid Vaccines
- Synthetic Vaccines
By Service Type
- Fill-Finish
- Bulk Product
By Product Type
- Single Vaccine
- Combination Vaccine
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 3.1 Billion |
| Revenue Forecast by 2030 | USD 7.4 Billion |
| CAGR | 11.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Ajinomoto Co. Inc., Albany Molecular Research Inc., Catalent Inc., Cobra Biologics Limited, Cytovance Biologics Inc., Fujifilm Holdings Corporation, ICON PLC, IDT Biologika GmbH, Lonza Group AG, Merck KGaA, Pharmaceutical Product Development LLC, PRA Health Sciences Inc. |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/vaccine-contract-manufacturing-market-2269/customization-request |
Regional Analysis
Due to well-established healthcare infrastructure and advanced research and development facilities, North America dominated the global market share for Vaccine Contract Manufacturing, with a market share of 42.50% in 2022. North America also has a well-established healthcare infrastructure, robust regulatory framework, and a high level of investment in research and development. Moreover, the presence of major pharmaceutical companies and contract manufacturers in the region further stimulates the growth of the Vaccine Contract Manufacturing market. Additionally, favorable government initiatives and funding for vaccine development also contribute to the dominance of North America in this market.
The Asia Pacific market is the most lucrative due to several possible areas for future enlargement. This region has emerged as the fastest growing vaccine contract manufacturer due to several factors. These include the increasing demand for vaccines, growing investments in healthcare infrastructure, the rising prevalence of infectious diseases, and many contract manufacturing organizations (CMOs) in countries like China and India. The region's market growth is expected to continue due to its favorable regulatory environment, technological advancements, and increasing vaccine research and development investments.
Browse More Reports from Vantage Library:
Point Of Care Molecular Diagnostics Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/point-of-care-molecular-diagnostics-market-2266
Opioids Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/opioids-market-0198
Nanotechnology Drug Delivery Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/nanotechnology-drug-delivery-market-0196
Naloxone Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/naloxone-market-0530
Pain Management Therapy Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/pain-management-therapy-market-0199
About Vantage Market Research:
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.
Follow Us on: LinkedIn | Twitter | Facebook | YouTube
Contact us
Eric Kunz
6218 Georgia Avenue NW Ste 1 - 564
Washington DC 20011-5125
United States Tel: +1 202 380 9727
Email: sales@vantagemarketresearch.com
Website:
https://www.vantagemarketresearch.com/
Latest Vantage Market Research Press Releases
Latest Vantage Market Research Blog
Vantage Market Research All Reports
Blog:
