The global biopharmaceutical contract manufacturing market is expected to be valued at USD 10.7 billion in 2024. The market is projected to progress at a CAGR of 8.8% and reach a market value of USD 25.1 billion by 2034.
The market is witnessing a surge in demand for various reasons. Biologics are complex molecules that require specialized expertise for their manufacture. Therefore, pharmaceutical companies prefer outsourcing their manufacturing processes to CMOs.
Small and mid-sized biopharmaceutical companies lack the resources and expertise to manufacture biologics in-house, further contributing to the demand for CMOs. The biopharmaceutical market is expanding globally, and efficient manufacturing processes are necessary to keep up with the increasing demand.
The trend driving growth in this market is the use of cell and gene therapies, which require specialized manufacturing facilities and expertise. Contract manufacturing organizations can provide these facilities and expertise, which is why the demand for their services is increasing rapidly.
The risk of intellectual property theft is a major concern for market players. Contract manufacturers frequently operate with several clients and there is a risk that confidential information will be shared or stolen. This is expected to hamper the market’s growth over the forecast period.
This may result in legal challenges and harm the contract manufacturer’s reputation. The sector is continuously evolving and new technology and procedures emerge on a regular basis. To stay competitive, contract manufacturers must keep up with the latest advancements.
“The increased usage of biologics in a variety of therapeutic areas, a growing need for customized treatment, and the emergence of new manufacturing technologies that allow for more efficient and cost-effective biopharmaceutical production drive the market’s progress,” says an analyst at FMI.
Key Takeaways from the Biopharmaceutical Contract Manufacturing Market:
- The global biopharmaceutical contract manufacturing market is estimated to register a CAGR of 8.8% through 2034.
- The market is expected to reach a valuation of USD 25.1 billion by 2034.
- The mammalian-based segment is anticipated to dominate the market, accounting for 73.0% of the market share in 2024.
- With a 51.0% market share, the monoclonal antibodies segment is estimated to dominate the market in 2024.
Explore the Full Market Scope: Find the Complete Biopharmaceutical Contract Manufacturing Market Report Here
Competitive Landscape:
The biopharmaceutical contract manufacturing industry is getting more competitive as the demand for biologics and biosimilars rises. Companies have a solid reputation for offering high-quality contract manufacturing services to the biopharmaceutical industry. However, some smaller market participants are gaining traction and competing with the larger corporations by providing specialized services and innovative technologies.
Some prominent companies in the market include 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.
Key Market 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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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