“Biopharmaceuticals Contract Manufacturing Market Worth $12.81 Billion in 2019”, says Visiongain report

19 December 2019
Pharma

Visiongain’s new report the Biopharmaceuticals Contract Manufacturing Market Report 2019-2029: Forecasts by Service (Process Development {Downstream, Upstream}, Fill & Finish Operations, Analytical & Quality Control Studies, Packaging), by Product (Biologics { Monoclonal Antibodies (MAbs), Recombinant Proteins, Vaccines, Antisense, RNAi, & Molecular Therapy, Others}, Biosimilars), plus analysis of leading companies indicates that the global Biopharmaceuticals Contract Manufacturing market will attain $25.6 billion revenue by 2029.

Global Biopharmaceuticals Contract Manufacturing market is expected to grow on account of growing demand from biotech companies to outsource their production as they lack in house capacity. The market is expected to grow at a healthy CAGR of 7.2% over the projected period. Companies adopt outsourcing for different purposes. Outsourcing not only helps to avoid heavy capital expenditures but also reduces business risk to a significant amount. This has led big companies to offer innovative products and provide access to expensive technologies in the market.

The market for biopharmaceuticals continues to grow globally. Growth of pharmaceutical companies is attributed to the growth of biopharmaceutical companies and it will continue to boost the pharmaceutical industry in the coming 5 years. With the growing number of approvals for therapeutic biologics, the production of biopharmaceutical parenteral products has expanded in recent years. Biotechnology and Pharmaceutical companies continue to outsource to CMOs as a way to meet their fill & finish needs and reduce risk.

In 2019, the Asia Pacific Biopharmaceuticals Contract Manufacturing market accounted for more than 30% of overall market share. Major global players turn to Asia countries to fulfill outsourcing needs due to factors such as low labor cost, low manufacturing, and operating cost. With these factors developing economies like India, Japan, China and Korea continue to drive the market for biopharmaceuticals contract manufacturing and will continue to offer lucrative growth over the forecast period.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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