The global ”biopharmaceutical contract manufacturing organizations (CMO) market“ is projected to showcase an impressive growth owing to the increasing need to outsource the manufacturing process in the biopharmaceutical industry, observes Fortune Business Insights™ in an upcoming report, titled, “Biopharmaceutical CMO Market Size, Share & Industry Analysis, By Service Type (Bio-manufacturing [Upstream, Downstream] Fill & Finish Operations, Analytical & QC Studies, Packaging), By Product ( Monoclonal Antibodies, Vaccines, Recombinant Proteins, Antisense, RNAi, & Molecular Therapy, Others) and Regional Forecast, 2020-2027.” These organizations allow pharmaceutical companies to outsource some aspects of their business, which saves their valuable time and aids them to focus on the development of drugs.
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The COVID-19 contagion has compelled the world to develop a vaccine for the virus at a rapid pace. This is expected to drive the market for biopharmaceutical CMOs. However, the scale at which the production is assumed to take place is a major challenge for most of the renowned players. At Fortune Business Insights™, we are providing actionable insights by closely studying multiple aspects of the current scenario. We are also offering firsthand information on various market trends through our comprehensive research reports.
Highlights of the Report:
While making the report, we segmented the market on the basis of product, type, consumption, distribution channel, and region. Based on the segmentation, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included the study of core competencies of key players and their market share to anticipate the degree of competition. The bottom-up procedure was conducted to arrive at the overall size of the market.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Increasing Adoption of CMOs in Biopharmaceutical Space to Drive Growth
The rising demand for specialized work force and the high cost associated with the facility setup have resulted in the increasing adoption of CMOs in the biopharmaceutical industry. This is expected to drive the growth of the global biopharmaceutical CMO market. In addition, increasing mergers and acquisitions among key players and rising venture capital investments are some of the major factors enhancing the demand, which is anticipated to further strengthen growth. However, the rising competition among prominent players is expected to restrain growth.
The global biopharmaceutical CMO market is expected to be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the global biopharmaceutical CMO market due to the rising demand for CMOs because of the presence of several small and mid-sized players with limited sources in this region. Europe is likely to have substantial market growth throughout the forecast period owing to the robustness of venture capital investments, and the increasing availability of venture funds. Asia Pacific is expected to witness growth with the highest CAGR during the forecast period due to the increasing mergers and acquisitions among key players and growing demand for CMOs. On the other hand, Latin America and the Middle East and Africa is projected to have a lucrative growth in the biopharmaceutical CMO market in the upcoming years.
Presence of Major Biopharmaceutical Facilities in U.S. to Help North America Dominate
The U.S. being home to the largest market for biopharmaceuticals, North America is projected to lead the global biopharmaceutical CMO market. According to the Pharmaceutical Research and Manufacturers Association (PhRMA), the firms present in the U.S. collectively conduct more than 50% of the world’s R&D in pharmaceuticals.
The market in Asia Pacific is estimated to expand at rapid pace during the forecast period. Cost associated benefits, such as, lower labor costs and operating costs from outsourcing in Asian countries are expected to drive the growth in the region.
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A List of Key Manufacturers Operating In the Global Biopharmaceutical CMO Market Report:
- Rentschler Biotechnologie SE
- Boehringer Ingelheim GmbH
- Kemwell Biopharma
- Inno Bio Ventures Sdn Bhd
- ProBioGen AG
- FUJIFILM Diosynth Biotechnologies U.S.A., Inc.
- TOYOBO CO., LTD.
Adopting Expansion Strategies to Aid Key Players to Gain Share
Prominent enterprises operating in the global biopharmaceutical CMO market are focusing on expanding their businesses. They are adopting expansion strategies, mergers and acquisitions, in order to increase their shares. For instance, in April 2016, Recipharm announced the acquisition of the Pharmaceutical Contract Development and Manufacturing Operations (CDMO) of Kemwell.
- In November 2019, JW Pharmaceutical launched its joint-stock company and a CMO business in Vietnam.
- In February 2017, Sanofi and Lonza entered into a strategic partnership to establish a large-scale biologics production facility in Switzerland.
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What are the key segments in the market?
By Service Type
- Fill & Finish Operations
- Analytical & QC Studies
- Monoclonal Antibodies
- Recombinant Proteins
- Antisense, RNAi, & Molecular Therapy
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
With tables and figures helping analyse worldwide Global biopharmaceutical CMO Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
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