Global Biopharmaceutical CMO and CRO Market Size By Product(Biosimilars, Biologics), By Source(Mammalian, Non-mammalian), By Service(Contract research, Contract Manufacturing), By Geographic Scope And Forecast
Global Biopharmaceutical CMO and CRO Market Size By Product(Biosimilars, Biologics), By Source(Mammalian, Non-mammalian), By Service(Contract research, Contract Manufacturing), By Geographic Scope And Forecast
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Biopharmaceutical CMO and CRO Market Size and Forecast
Biopharmaceutical CMO and CRO Market size is anticipated to be at USD 30.54 billion in 2021, it is expected to reach USD 58.43 billion by the end of 2030, growing at a CAGR of 7.2% from 2023 to 2030.
The important players’ growing investments in the biopharmaceutical industry in order to encourage productivity and efficiency have driven the bio manufacturers to put more emphasis on outsourcing operations. It has boosted the growth in the Biopharmaceutical CMO and CRO Market. The Global Biopharmaceutical CMO and CRO Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Biopharmaceutical CMO and CRO Market Definition
So, biopharmaceutical CMOs and CROs are basically companies that offer outsourced services to the biopharmaceutical industry. Think of them as helpers for pharmaceutical and biotechnology firms that might not have all the know-how, fancy labs, or the manpower they need. These CMOs and CROs do a bunch of stuff, like developing and manufacturing biologics under contract, figuring out the best ways to make things, running tests, and even helping with all that tricky regulatory stuff. Now, things like how complicated biologics are getting, the need for super-specialized skills and equipment, and the constant pressure to save money and work smarter all play a big role. Because everyone wants more biologics, and pharmaceutical companies are outsourcing more of their drug research and manufacturing, CMOs and CROs are seeing a huge surge in demand.
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Biopharmaceutical CMO and CRO Market Overview
The biopharmaceutical CMO and CRO industry has been greatly influenced by the COVID-19 pandemic, which has raised the demand for outsourcing medication development and manufacturing operations. The sector has also been impacted by supply chain interruptions, worker safety worries, and delays in clinical trials. As a result, several supply chain tactics have been reevaluated, and the usage of digital technology has risen.
In the upcoming years, the market for biopharmaceutical CMOs and CROs is anticipated to expand significantly due to a number of important variables. The growing trend of pharmaceutical firms outsourcing their drug research and manufacturing operations in order to concentrate on their core capabilities and cut expenses. Besides this, the expansion of biologics and biosimilars, calls for specialized manufacturing skills that many businesses might not possess. Furthermore, the expansion of new markets, especially in Asia, where the need for top-notch biopharmaceutical services is rising quickly.
Despite the growth-promoting factors, the market for biopharmaceutical CMOs and CROs may also be affected by a number of restrictions. Regulatory obstacles, such as the requirement to adhere to strict. Due to the high expense of outsourcing, some businesses—particularly those with limited financial resources—may choose not to use these services.
Along with the growth-promoting factors, there are a number of possibilities that can help the biopharmaceutical CMO and CRO market expand. Gene therapy and personalized medicine are receiving more attention, which opens up new potential for CMOs and CROs with specialized knowledge in these fields. Companies may broaden their markets and benefit from cheaper labor and manufacturing costs by taking advantage of the rise of emerging markets.
Biopharmaceutical CMO and CRO MarketSegmentation Analysis
The Biopharmaceutical CMO and CRO Market are segmented based on the product, source, service, and geography.
Biopharmaceutical CMO and CRO Market, By Product
Biosimilars
Biologics
The biological product is dominating the market and expected to sustain its dominance in the forecast period. The rise in demand is caused by biologics’ high specificity, sophisticated production processes, and greater effectiveness rate when compared to other therapeutic compounds.
Biopharmaceutical CMO and CRO Market, By Source
Mammalian
Non-mammalian
The mammalian segment holds the largest share in the Biopharmaceutical CMO and CRO Market. This can be explained by their ability to improve complex protein therapies with post-translational alterations that are human-like. This sector has also benefited substantially from the invention of revolutionary and better expression systems, elevated monitoring of process solutions, cell line engineering tools, automated screening techniques, and reusable devices.
Biopharmaceutical CMO and CRO Market, By Service
Contract research
Contract Manufacturing
The contract manufacturing is leading the market. Numerous CMOs, specifically opportunistic CMOs, are engaging in the biopharmaceutical industry and provide end-to-end coverage for biopharmaceutical companies, from cell culture by means of fill/finish services.
Biopharmaceutical CMO and CRO Market, By Geography
North America
Europe
Asia pacific
Latin America
Middle East and Africa
As a result of the presence of service providers in this region, North America currently holds the largest market share. Besides this, SMEs’ presence is also boosting the growth of this market in North America.
Key Players
The key players in the Biopharmaceutical CMO and CRO Market include Samsung Biologics, Boehringer Ingelheim, Lonza, Patheon, LabCorp, CMC Biologics JRS Pharma, FUJIFILM Diosynth Biotechnologies, RentschlerBiotechnologie, WuXi Biologics, PRA Health Sciences, Thermo Fisher Scientific Inc.
Key Developments
In June 2021, Catalent announced to acquisition RheinCell to improve the cell therapy of Catalent in the areas of CAR-T therapies.
In February 2021, Thermo Fisher Scientific announced the acquisition, this acquisition can strengthen the position of Thermo Fisher Scientific in the global market specifically in the clinical research services area.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Samsung Biologics, Boehringer Ingelheim, Lonza, Patheon, LabCorp, CMC Biologics JRS Pharma, FUJIFILM Diosynth Biotechnologies, RentschlerBiotechnologie, WuXi Biologics, PRA Health Sciences, Thermo Fisher Scientific Inc.
SEGMENTS COVERED
By product, By source, By service, and By geography.
CUSTOMIZATION SCOPE
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