Dublin, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The "Biotechnology Contract Manufacturing Market by Service (Manufacturing, Fill Finish, Packaging), Type (Drug Substance, Drug Product), Scale, Source (Mammalian), Therapy Area (Oncology), Molecule Type (mAbs, ADC, CGT, Vaccines) - Global Forecasts to 2028" report has been added to ResearchAndMarkets.com's offering.
The global biotechnology contract manufacturing market is estimated to reach USD 24.8 billion by 2028 from USD 16.6 billion in 2023, at a CAGR of 8.3% during the forecast period of 2023 to 2028. The growth of this market can be attributed to the increasing partnerships and collaborations between pharmaceutical companies and biologics contract manufacturers. For instance, In January 2023, Catalent (US) entered into an agreement with Sarepta Therapeutics, Inc. (US) for manufacturing of Sarepta's most advanced gene therapy candidate, delandistrogene moxeparvovec (SRP-9001) for the treatment of Duchenne muscular dystrophy. Similarly, In December 2022, Merck KGaA (Germany) and Synplogen (Japan) entered into an agreement to accelerate the development and manufacturing of viral vector-based gene therapy applications.
This report provides a detailed picture of the biotechnology contract manufacturing market. It aims to estimate the size and future growth potential of the market across different segments such as the service, type, scale of operation, source, molecule type, therapeutic area, and region. The report also includes an in-depth competitive analysis of the key market players along with their company profiles, recent developments, and key market strategies.
The monoclonal antibodies segment accounted for the largest share by molecule type during the forecast period.
In 2022, the monoclonal antibodies segment accounted for the largest share by molecules in the global biotechnology contract manufacturing market. The large share of this segment is attributed to the rising prevalence of diseases, increasing government initiatives for the development of monoclonal antibody drugs, and the growing number of mAb product candidates currently in the clinical pipeline.
Europe: The second largest region in the biotechnology contract manufacturing market
Europe accounted for the second-largest market for biotechnology contract manufacturing market after North America. The European biotechnology contract manufacturing market has experienced substantial growth in recent years, driven by various factors such as increasing investments for the development of biologics such as monoclonal antibodies and cell & gene therapies and biomanufacturing capacity expansions. Europe is at the forefront of developing and adopting emerging technologies in the field of biotechnology contract manufacturing market. In March 2023, Lonza completed its cGMP clinical and commercial manufacturing site, which is dedicated to large-scale commercial drug product manufacturing.
Market Dynamics
- Drivers
- Rising Demand for Biologics and Biosimilars
- Increasing Outsourcing of Biologics Manufacturing Among Biopharmaceutical Companies
- Growing Focus on Personalized Medicine
- Increasing Collaborations Between Pharmaceutical Companies and Biologics CMOs
- Advancements in Manufacturing Technologies
- Restraints
- Intellectual Property Rights Issues
- Opportunities
- Rising Demand for Cell and Gene Therapies
- Significant Growth Opportunities Offered by Emerging Countries
- Expansion of Biologics Manufacturing Capacities by CMOs
- Strong Emphasis on Drug Development
- Challenges
- Complying with Regulatory Reforms
Companies Profiled
- AbbVie Inc.
- Abzena Ltd.
- AGC Inc.
- Asahi Kasei Corporation
- Avid Bioservices, Inc.
- Boehringer Ingelheim International GmbH
- Catalent, Inc.
- Curia Global, Inc.
- Emergent
- Eurofins Scientific
- Fujifilm Holdings Corporation
- Genscript Biotech Corporation
- Hepalink Group
- JRS Pharma
- JSR Corporation
- Lonza
- Lotte Biologics
- Mabplex International Co. Ltd.
- Merck KGaA
- Midas Pharma GmbH
- Minapharm Pharmaceuticals
- Polyplus Transfection
- Recipharm AB
- Rentschler Biopharma SE
- Samsung Biologics
- Shanghai Fosun Pharmaceutical Co. Ltd.
- Stelis
- Thermo Fisher Scientific Inc.
- Wuxi Biologics
Key Attributes
| Report Attribute | Details |
| No. of Pages | 324 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $16.6 Billion |
| Forecasted Market Value (USD) by 2028 | $24.8 Billion |
| Compound Annual Growth Rate | 8.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ju8zbw
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