Dublin, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The "Biosimilar Contract Manufacturing Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global biosimilar contract manufacturing market is expected to grow at a CAGR of 16.19% during 2022-2027. - More than 2 billion people worldwide cannot afford life-saving medicines, putting their lives at risk. Producing potentially life-saving drugs that are more accessible and affordable can help today's patients live better lives for a prolonged period and minimize health inequality. Biologic drugs are at the forefront of therapeutic developments, but their high cost accounts for a significant portion of public and private drug expenditure.
Comparatively, biosimilars are an equivalent effective drug at an affordable price, offering the promise of a more sustainable solution. As a result, the biosimilar market continues to post massive growth across all regions worldwide. Since 2015, the biosimilars market has been growing at a CAGR of more than 50%, and the future looks even better, with several favorable factors supporting its high growth. The increasing acceptance of biosimilars in treating diseases, such as autoimmune diseases, cancer, and blood disorders, coupled with the low cost of biosimilars compared to branded biologics, are some of the major factors driving the market.
- With the increasing demand for biosimilars, rise in approved biosimilars, and robust pipeline, the demand for outsourcing biosimilars manufacturing is also equally increasing. As a result, many pharma and biotech companies outsource biosimilar R&D and manufacturing to CMOs & CDMOs, which propel the biosimilar contract manufacturing market growth. Outsourcing biosimilar manufacturing enables pharma/biotech companies to reach the market early, free up their resources and manufacturing facilities, focus more on their core businesses and minimize the costs of their drugs. As a result, the CMOs industry is witnessing remarkable growth during the last decade and is expected to continue an even better growth trajectory in the coming years. The CMOs industry is undergoing a paradigm shift. Off-late CMOs are no longer working as just a one-off manufacturing option but have become an integral part of the supply chain of pharma/biotech companies.
- In the beginning, major pharma companies continue to be significant contributors to the growth of the biopharma contract manufacturing market; contributions from biotechnology & life sciences companies also increasing in recent years, especially when the demand for biologics, including biosimilars, is at an all-time high worldwide. With the market entry of many biotech companies, there will be greater demand for contract manufacturing services in biologics, including the biosimilars market. Outsourcing the manufacturing function will enable biotech firms to introduce their products in the market without investing in building or upgrading their manufacturing units. As the costs of biosimilars must be kept significantly low, it makes sense for drug developers to outsource manufacturing activities to keep costs low. As a result, CMOs are witnessing healthy growth in their business from the biosimilar contract manufacturing market.
- The demand for contract manufacturing services is gaining momentum owing to the increase in investments by big pharma companies for the R&D of various biologics and biosimilars. Moreover, the significant advantage of the reduction in overall investment for developing and manufacturing drugs with contract manufacturing is expected to increase the adoption of contract manufacturing services by pharma/biotech companies in the coming years. Leading CMOs are expanding their existing manufacturing capacities to maintain their strong position in the biosimilar contract manufacturing market. For instance, in April 2018, Catalent Pharma Solutions completed a USD 5.5 million expansion program at its 200,000+ square foot Philadelphia, Pennsylvania manufacturing site to provide additional clinical packaging and storage capacity.
| Report Attribute | Details |
| No. of Pages | 306 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value (USD) in 2021 | $2260.6 Million |
| Forecasted Market Value (USD) by 2027 | $5560.84 Million |
| Compound Annual Growth Rate | 16.1% |
| Regions Covered | Global |
Market Dynamics
Market Opportunities & Trends
- Rise in Product Launches & Approvals of Biosimilars
- Favorable Policies Encouraging Use of Biosimilars
- Patent Expirations of Blockbuster Branded Biologic Drugs
- Rising Potential of Biosimilars in Emerging Markets
Market Growth Enablers
- Favorable Patient Demographics With Rise in Disease Burden
- Robust Pipeline of Biosimilars Boosting Contract Manufacturing
- Rising Investments for Developing Biosimilars
- High Cost of Biologics & Surge in Demand for Biosimilars
Market Restraints
- Quality Control and Supply Chain Issues With Contract Manufacturing
- Complexities & Limitations Involved in Manufacturing Biosimilars
- High Cost of Establishing Biomanufacturing Facilities
Segmentation by Source:
- Mammalian
- Non-mammalian
Segmentation by Scale of Operation:
- Commercial
- Research
Segmentation by Product:
- Finished Dosage Form (FDF
- Active Pharmaceutical Ingredients (APIs)
Segmentation by Indication:
- Oncology
- Blood Disorders
- Inflammatory & Autoimmune Disorders
- Others
Segmentation by Geography
- APAC
- China
- India
- Japan
- South Korea
- Australia
- North America
- US
- Canada
- Europe
- Germany
- Spain
- France
- Italy
- UK
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- South Arabia
- UAE
- Turkey
Key Vendors
- Lonza
- Boehringer Ingelheim International GmbH
- Catalent
- FUJIFILM
- Thermo Fischer Scientific
Other Prominent Vendors
- AbbVie
- Abzena
- AGC Biologic
- Alcami
- Almac Group
- Avid Bioservices
- Biocon
- Element Materials Technology
- Eurofins Scientific
- Fresenius Kabi
- Goodwin Biotechnology
- Kemwell
- mAbxience
- Merck KGaA
- Midas Pharma
- Novartis AG
- Pfizer
- Rentschler Biopharma
- Samsung Biologics
- WuXi Biologics
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
5 Report Assumptions & Caveats
6 Market at a Glance
7 Introduction
8 Premium Insights
9 Market Opportunities & Trends
10 Market Growth Enablers
11 Market Restraints
12 Market Landscape
13 Source
14 Scale of Operation
15 Product
16 Indication
17 Geography
18 Europe
19 North America
20 APAC
21 Latin America
22 Middle East & Africa
23 Competitive Landscape
24 Key Company Profiles
25 Other Prominent Vendors
26 Report Summary
27 Quantitative Summary
28 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/u3y8km
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
