What is Biopharmaceutical Contract Manufacturing?
Biopharmaceuticals contract manufacturing refers to pharmaceutical companies outsourcing the development and manufacturing of drugs. CMOs have become a known name among pharmaceutical companies due to their cost effective services. The CMOs offer a wide range of services including research and development, analytical services and final dosage preparation and packaging. Moreover, growing biopharma industry is offering lucrative opportunities for the growth of the market. The growth of the Biopharmaceuticals Contract Manufacturing market is attributed to the some key driving factors such as increase demand of biologics, growing biosimilar pipeline, stringent regulation and increasing outsourcing activities. However, increasing competition in the industry is expected to restraint the growth of the market during the forecast years.
The contract manufacturing market for biologics is growing at an unprecedented rate owing to increasing biologics pipeline, manufacturing complexity, and companies shifting their focus towards core activities. Presently, many pharmaceutical and biotechnology companies outsource varied services from early-stage drug development to commercial-scale manufacturing. The outsourcing is required to expedite research and development, speed up market entry, give access to novel technologies, regulatory expertise, and reduces risks at a competitive cost. Complexities in biologics development and production and increasingly stringent quality standards have driven drug manufactures to prefer contract manufacturer services. Moreover, many companies are opting CMOs services to speed up the development process and lower production costs. For instance, in 2019, Dyadic International, Inc. agreed with Luina Bio Pty Ltd for the development and commercialization of its specific targeted antigen and biological products.
- Lonza Group AG
- Boehringer Ingelheim International GmbH
- Inno Biologics Ventures Sdn Bhd
- Thermo Fisher Scientific
- AbbVie Inc.
- WuXi Biologics
- General Electric
- Samsung Biologics
- Merck KGaA
- Ajinomoto Co., Inc
The biopharmaceuticals contract manufacturing market, by service, is segmented into development process, final dosage operations, analytical and quality control and final packaging. In 2019, the development process accounted for the largest market share in the global biopharmaceuticals contract manufacturing market owing to cutting edge technologies, risk becomes higher for small drug manufactures. However, analytical and quality control services are expected to grow at a significant CAGR in the forecast period owing to stringent regulatory regulation and complex manufacturing requirements of biologics.