New York, April 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biologics Contract Development Global Market Report 2023" - https://www.reportlinker.com/p06451211/?utm_source=GNW
, GenScript, Bionova Scientific Inc., Boehringer Ingelheim BioXcellence, STC Biologics, Siegfried Evionnaz SA, BioAgilytix Labs Inc., Samsung BioLogics, and Forge Biologics.
The global biologics contract development market is expected to grow from $6.27 billion in 2022 to $7.00 billion in 2023 at a compound annual growth rate (CAGR) of 11.61%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The biologics contract development market is expected to reach $10.29 billion in 2027 at a CAGR of 10.13%.
The biologics contract development market includes revenues earned by entities by sourcing, solid and specialized formulation development, and process analytics development.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Biologics contract development refers to companies that provide biologics development and manufacturing services to pharmaceutical corporations on a contract basis. The biologics contract development is used to outsource the manufacturing of biologics on contracts to focus on the marketing, R&D, and branding of products.
North America was the largest region in the biologics contract development market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the biologics contract development market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main source of biologics contract development are microbial, mammalian, and others soruces.The microbial source of biologics contract development are used for the production of various biologics.
The biologics contract development indication are oncology, immunological disorders, cardiovascular disorders, hematological disorders, and others indications that are applied in the product service of biologics contract development such as cell line development, process development, and others product services.
The rising prevalence of chronic diseases is expected to propel the biologics contract development market going forward.Chronic diseases refer to an illness that lasts for a year or longer that requires ongoing medical attention.
The rise in chronic disease cases is increasing the demand for developing novel drugs, including biologics, thereby promoting the biologics contract development market.For instance, according to data published in April 2021 by the World Health Organization, a Switzerland-based health organization for international public health, 41 million people die every year due to chronic diseases globally, close to 71% of all deaths.
Therefore, the rising prevalence of chronic diseases will drive the biologics contract development market.
Technological advancements are gaining popularity in the biologics contract development market.Major companies in the biologics contract development market are integrating advanced technologies to sustain their position in the market.
For instance, in January 2022, Lonza, a Switzerland-based contract manufacturing and development solutions company, launched bYlok technology platform to design and manufacture bispecific antibodies.It helps to solve the light-heavy chain mispairing issue with high yields, >95% accuracy, and the ability to maintain a mAb-like format.
It can be accessed by pharma and biotech companies through a simple research license.
In February 2022, Recipharm, a Sweden-based pharmaceutical contract development and manufacturing organization, acquired Vibalogics and Arranta Bio for an undisclosed amount.This acquisition will strengthen Recipharm’s presence in advanced therapy medicinal products and enable it to expand virotherapy manufacturing capabilities in the US.
Vibalogics is a Germany-based contract development and manufacturing organization. Arranta Bio is a US-based contract development and manufacturing organization.
The countries covered in the biologics contract development market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The biologics contract development market research report is one of a series of new reports that provides biologics contract development market statistics, including biologics contract development industry global market size, regional shares, competitors with a biologics contract development market share, detailed biologics contract development market segments, market trends and opportunities, and any further data you may need to thrive in the biologics contract development industry. This biologics contract development market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06451211/?utm_source=GNW
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