Global Biopharmaceutical Contract Manufacturing Industry Projected Surge with 8.8% CAGR, Reaching US$ 25.1 Billion by 2034 | FMI

In a groundbreaking revelation, the Global Biopharmaceutical Contract Manufacturing Industry is poised for an exceptional trajectory, anticipating an impressive 8.8% Compound Annual Growth Rate (CAGR) throughout the projected period. The market, valued at US$ 10.7 billion in 2024, is anticipated to scale new heights, reaching an estimated US$ 25.1 billion by 2034.

Key Takeaways from the Global Biopharmaceutical Contract Manufacturing Industry Study:

The comprehensive market study highlights several key factors shaping the landscape of the biopharmaceutical contract manufacturing market:

1. Striking Growth Projection: A robust 8.8% CAGR signifies the market’s resilience and potential for substantial expansion.
2. Market Value Surge: The market, currently valued at US$ 10.7 billion in 2024, is set to more than double, reaching an estimated US$ 25.1 billion by 2034.

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Drivers and Opportunities: The following drivers and opportunities are instrumental in fueling the market’s growth:

1. Rising Biologics Demand: Increasing preference for biologics over traditional pharmaceuticals is a key driver propelling demand for contract manufacturing services.
2. Outsourcing Efficiency: Pharmaceutical companies leveraging contract manufacturing organizations to streamline production processes, reduce costs, and expedite time-to-market.
3. Technological Advancements: Ongoing innovations in bioprocessing technologies contribute to a conducive environment for market expansion.
4. Global Market Dynamics: Globalization of pharmaceutical supply chains and the need for efficient manufacturing solutions drive the market’s global reach.

Competitive Landscape-Regional Trends: The competitive landscape is marked by regional trends, fostering collaboration, partnerships, and investments within the biopharmaceutical contract manufacturing sector. Companies at the forefront of innovation are poised to lead the market.

Restraints: Despite the promising outlook, certain restraints may impact market growth. These could include regulatory challenges, supply chain disruptions, and evolving market dynamics.

Recent Market Developments: Recent market developments showcase the dynamic nature of the industry, with new collaborations, technology advancements, and strategic initiatives shaping the market’s trajectory.

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Global Biopharmaceutical Contract Manufacturing Industry Key Players

• Catalent Inc.
• Lonza Group Ag
• Patheon N.V. (Thermo Fisher Scientific Inc.)
• Abzena Plc.
• Sandoz International GmbH (Novartis AG)
• Fujifilm Diosynth Biotechnologies (FUJIFILM Holdings)
• Baxter Pharmaceutical Solutions LLC (Baxter Inc.)
• AbbVie Contract Manufacturing (AbbVie Inc.)
• Samsung Biologics Co. Ltd.
• ProBioGen AG
• Pfizer Centre Source Ltd (Pfizer Inc.)
• Novasep
• Biomeva GmbH
• Kbi Biopharma Inc
• Rentschler Biotechnologie GmbH
• Ajinomoto Althea Inc. (Ajinomoto Co., Inc.)

Key Global Biopharmaceutical Contract Manufacturing Industry Segments

By Platform Type:

• Mammalian Based
• Microbial Based

By Product Type:

• Monoclonal Antibodies
• Recombinant Protein
• Vaccine
• Insulin
• Growth factor
• Interferons
• Others

By Application Type:

• Clinical
• Commercial

By Therapeutic Area Type:

• Autoimmune Diseases
• Oncology
• Metabolic Diseases
• Ophthalmology
• Cardiovascular Diseases
• Infectious Diseases
• Neurology
• Respiratory Disorders
• Others

By Region:

• North America
• Latin America
• East Asia
• South Asia
• Europe
• Oceania
• MEA

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Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.