“Global Vaccine Contract Manufacturing market set to grow to $3,831.7m by 2025” says new Visiongain report
08 April 2020
Visiongain has launched a new pharma report Vaccine Contract Manufacturing Market 2020: Prospects for Attenuated Vaccine, Inactivated Vaccine, Fluoroquinolones, Subunit Vaccines, Toxoid Vaccines.
The vaccine manufacturing sector has traditionally been conservative in its approach, relying on traditional methods for vaccine production. The vaccine shortages of recent years that were caused by national pandemics (such as avian flu) highlighted the shortcomings of some of these production methods and more recently COVID-19. The increasing demand for vaccines will make it vital for the vaccine manufacturing industry to develop more-efficient methods for producing vaccines.
The lead analyst of the report commented "Major fluctuations in demand are seen in the case of influenza, as was seen during pandemics over the last decade. Unexpectedly, the Coronavirus or COVID-19 outbreak that started from Wuhan, China, has spread across continents, affecting various industries globally. Supply of key materials has been severely disrupted due to the forced quarantine and lack of labour and raw materials. As the link between regional warehouses is not smooth, the allocation of raw materials between regions cannot be carried out successfully; this shortage of raw material and components affected the medical device supply chain.
Respiratory support devices such as life-support machine, atomizer, oxygen generator and monitor are the primary clinical treatment medical devices. Thus, from diagnosis to cure, the need for instruments for measuring temperature, nucleic acid diagnostic kit, antiviral medical products and life-support machine has kept on increasing."
Leading companies featured in the report include AbbVie, Baxter BioPharma Solutions, Boehringer Ingelheim, Catalent, Charles River Laboratories, IDT Biologika, Lonza, Meridian Life Science and others.
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