Pune, India, Dec. 19, 2023 (GLOBE NEWSWIRE) -- The Biopharmaceutical CMO Market size was expected to be worth USD 11.56 billion in 2021 and projected to reach USD 26.49 billion by 2028, recording a CAGR of 12.6% during the forecast period. The expansion of the market will be driven by the rising number of new drug development projects entering clinical pipelines.
This information is presented in the report titled "Biopharmaceutical CMO Market, 2021-2028" by Fortune Business Insights.
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Key Industry Development:
June 2021: Danaher successfully finalized the acquisition of Aldevron, a biotech contract manufacturing and development organization.
Key Takeaways:
- According to Contract Pharma, the demand for outsourced mammalian cell culture services in the industry has witnessed a growth of around 10% since 2019.
- According to Pharma Intelligence, the U.S. Food and Drug Administration (U.S. FDA) granted approval to 64 new molecular entities and novel biologics in 2018.
- In 2020, the North American sector retained a dominant market share, valued at USD 3.78 billion.
- According to BioProcess International, Europe accounts for 37.0% of the global CMO capacity, while North America follows closely with 35.0%.
Discover the Leading Players Featured in the Report:
Samsung Biologics (Incheon, Republic of Korea), Recipharm AB (Stockholm, Sweden), WuXi Biologics (Wuxi, China), FUJIFILM (FUJIFILM Diosynth Biotechnologies (Tokyo, Japan), Lonza (New Jersey, U.S.), Thermo Fisher Scientific Inc. (Patheon) (Waltham, U.S.), Cambrex Corporation (New Jersey, U.S.), Catalent, Inc (New Jersey, U.S.), Siegfried Holding AG (Zofingen, Switzerland)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 12.6% |
| 2028 Value Projection | USD 26.49 billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 9.64 billion |
| Historical Data | 2017-2019 |
| No. of Pages | 118 |
| Segments covered | By Service, By Geography |
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Segmentation:
The market is divided based on service into manufacturing, analytical & QC studies, packaging, and fill & finish operations. The manufacturing segment is additionally categorized into upstream processing and downstream processing.
Geographically, the market is categorized into North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America.
Driving factor:
Increasing Demand for Contract Manufacturing Services Fueled by a Robust Biologics Pipeline
The growth of the biopharmaceutical CMO market between 2021 and 2028 will be propelled by heightened spending on outsourced contract development and manufacturing services by biotech and biopharmaceutical companies. The expansion of the market will also be influenced by a growing number of biologics pipelines expected to be launched in the coming years. In 2018, the U.S. FDA approved more than 64 new molecular entities and novel biologics. Furthermore, the rising number of mergers and acquisitions among CMO service providers is poised to contribute to the revenue growth of the market.
Regional insights:
North America's Dominance Fueled by Strong CMO Presence
North America held a substantial share of about USD 3.78 billion in the global biopharmaceutical CMO market and is expected to experience significant growth in the coming years. The regional expansion can be attributed to the robust presence of CMO manufacturing facilities, with numerous small-scale CMOs consistently entering the market. Between 2018 and 2019, there were over 218 CMO facilities across the U.S., as reported by BioProcess International.
The European market is experiencing steady growth, with the total CMO capacity gradually surpassing that of North America. As of 2020, Europe accounts for approximately 37% of the global CMO capacity, compared to North America's share of around 35%, according to BioProcess International.
Meanwhile, Asia Pacific is poised for notable growth throughout the forecast period, supported by the increasing number of CMOs in China, India, and Southeast Asian countries.
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Competitive Landscape
The report provides:
• Significant factors influencing growth, obstacles, opportunities, and potential challenges in the market.
• In-depth insights into regional developments.
• A list of major industry players.
• Strategies employed by market players.
• Recent industry developments, including product launches, partnerships, mergers, and acquisitions.
FAQs
How big is the Biopharmaceutical CMO Market?
Biopharmaceutical CMO Market size was USD 9.64 billion in 2020.
How fast is the biopharmaceutical CMO market growing?
The Biopharmaceutical CMO Market will exhibit a CAGR of 12.6% during the forecast period, 2021-2028
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Related Links:
Contract Development and Manufacturing Organization (CDMO) Outsourcing Market Size, Share, Growth Industry Report.
Contract Research Organization (CRO) Services Market Share, Size, Demand, and Forecast.
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