Biotechnology Contract Manufacturing Market: Global Size, Growth, Trends, Opportunities, Segments, Regional Analysis, and Forecast with Graphical to 2028

Biotechnology Contract Manufacturing Market: Global Size, Growth, Trends, Opportunities, Segments, Regional Analysis, and Forecast with Graphical to 2028
Biotechnology Contract Manufacturing Market in terms of revenue was estimated to be worth $16.6 billion in 2023 and is poised to reach $24.8 billion by 2028, growing at a CAGR of 8.3% from 2023 to 2028 according to a new report by MarketsandMarkets™
In the near future, the biotechnology contract manufacturing industry is poised for unprecedented growth and innovation. With a burgeoning demand for personalized medicines, advanced biologics, and cutting-edge therapies, contract manufacturing organizations (CMOs) will play a pivotal role in expediting drug development and production.

Biotechnology Contract Manufacturing Market in terms of revenue was estimated to be worth $16.6 billion in 2023 and is poised to reach $24.8 billion by 2028, growing at a CAGR of 8.3% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of this market is driven by the rising demand for biologics and biosimilars, increasing outsourcing of biologics manufacturing among biopharmaceutical companies, growing focus on personalized medicine, increasing collaborations between pharmaceutical companies and biologics contract manufacturers, and advancements in manufacturing technologies. Additionally, the rising demand for cell & gene therapies and the expansion of biologics manufacturing capacities by CMOs will provide growth opportunities in the biotechnology contract manufacturing market.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=163964739

The monoclonal antibody segment accounted for the largest share by molecule type in the biotechnology contract manufacturing market in 2022.

By molecule type, the biotechnology contract manufacturing market has been further categorized as monoclonal antibodies, cell therapy & gene therapy, antibody-drug conjugates, vaccines, therapeutic peptides & proteins, and other molecule types. The monoclonal antibodies segment held the largest share of the global biotechnology contract manufacturing market in 2022. This can be attributed to the growing demand for targeted therapies in the treatment of chronic diseases, increasing government initiatives for the development of monoclonal antibody drugs, and the growing number of mAb product candidates currently in development.

The mammalian expression segment accounted for the largest share of the biotechnology contract manufacturing market by source in 2022.

Based on the source, the global biotechnology contract manufacturing market has been segmented into mammalian expressions and non-mammalian expressions. The mammalian expression segment held the largest market share in 2022. The large share of this segment can be attributed to the high sensitivity of this system, its wide usage in the manufacturing of biopharmaceuticals, the growing number of approved biologics based on mammalian expression systems, and the expansion of mammalian-based cell culture capacity by CMOs.

North America region accounted for the dominant share of the biotechnology contract manufacturing market in 2022.

The biotechnology contract manufacturing market in North America has experienced significant growth in recent years. The strong pharmaceutical and biotech industry, the presence of a well-established pharmaceutical industry, the rising demand for biosimilars and biologics, and the increasing outsourcing of manufacturing services by pharmaceutical & biopharmaceutical companies contribute to the growth of the biotechnology contract manufacturing market in the North American region. Additionally, the presence of highly advanced manufacturing technologies makes this region an attractive market for contract manufacturing organizations (CMOs).

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=163964739

Biotechnology Contract Manufacturing Market Dynamics:

Drivers:

  1. Rising demand for biologics and biosimilars
  2. Increasing outsourcing of biologics manufacturing among biopharmaceutical companies
  3. Growing focus on personalized medicine
  4. Increasing collaborations between pharmaceutical companies and biologics CMOs
  5. Advancements in manufacturing technologies

Restraints:

  1. Intellectual property rights issues

Opportunities:

  1. Rising demand for cell and gene therapies
  2. Significant growth opportunities offered by emerging countries
  3. Expansion of biologics manufacturing capacities by CMOs
  4. Strong emphasis on drug development

Challenge:

  1.  Complying with regulatory reforms

Key Market Players:

Key players in the biotechnology contract manufacturing market include Lonza (Switzerland), Thermo Fisher Scientific Inc. (US), Catalent, Inc. (US), Samsung Biologics (South Korea), WuXi Biologics (China), Boehringer Ingelheim International GmbH (Germany), FUJIFILM Holdings Corporation (Japan), AbbVie, Inc. (US), Eurofins Scientific (Luxembourg), GenScript Biotech Corporation (US), AGC Inc. (Japan), Merck KGaA (Germany), JSR Corporation (Japan) and among others.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=163964739

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/biotechnology-ccontract-manufacturing-market-163964739.html


Posted

in

by

Tags: