Overview and Scope
Biopharmaceutical CMO is a business that provides manufacturing services, with the capacity to produce small quantities for preclinical research and development and more significant numbers needed for clinical trials and commercialization. The biopharmaceutical CMO assists in lowering overall operational risk and time to market.
Sizing and Forecast
The biopharmaceutical cmo market size has grown rapidly in recent years. It will grow from $21.72 billion in 2023 to $24.68 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to increasing demand for biopharmaceuticals, globalization, rise in healthcare expenditure, regulatory support, increased research funding.
The biopharmaceutical cmo market size is expected to see rapid growth in the next few years. It will grow to $41.87 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to rise in telehealth and remote trials, global health initiatives, rise in disposable income, global health initiatives. Major trends in the forecast period include advanced therapies dominance, digitalization and industry 4.0, continuous manufacturing, sustainability and green practices.
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Segmentation & Regional Insights
The biopharmaceutical cmo market covered in this report is segmented –
1) By Product: Biologics, Biosimilars
2) By Source: Mammalian, Non-Mammalian
3) By Service: Manufacturing, Fill And Finish Operations, Analytical And QC Studies, Packaging
Top Major Players
Lonza Group AG
Fujifilm Diosynth Biotechnologies USA Inc.
Thermo Fisher Scientific Inc.
Samsung BioLogics Co. Ltd.
WuXi Biologics Co. Ltd.
North America was the largest region in the biopharmaceutical CMO market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biopharmaceutical cmo market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
An increase in the robustness of venture capital investments for the life science sector is expected to propel the growth of the biopharmaceutical CMO market. The life sciences sector refers to the businesses and organizations that conduct research and development on living beings. The robustness of venture capital investments is a feature describing the capacity of a model, test, or system to function correctly when its parameters or presumptions are changed. As the investment in the life science sector increases, there will be an increase in the manufacturing of biopharmaceuticals. For instance, in September 2021, according to JLL, a US-based company specializing in investment consultancy, the record amount of venture capital was raised in the UK over the last three months, with £1.9 billion raised between 1 June and 26 August 2021. This incredible investment brings the UK total for 2021 to £4.25 billion ($5.787 billion) YTD, up from £2.8 billion in 2020. Therefore, an increase in the robustness of venture capital investments for the life science sector is driving the biopharmaceutical CMO market growth.
Key Industry Players
Major companies operating in the biopharmaceutical cmo market include Lonza Group AG, Fujifilm Diosynth Biotechnologies USA Inc., Thermo Fisher Scientific Inc., Samsung BioLogics Co. Ltd., WuXi Biologics Co. Ltd., Lonza Ltd., JRS Pharma Group, CMC Biologics AS, Catalent Inc., Boehringer Ingelheim GmbH, Rentschler Biopharma SE, AGC Biologics Inc., Abzena Ltd., AbbVie Inc., AstraZeneca plc, Bayer AG, Biogen Inc., Bristol-Myers Squibb Co., Eli Lilly and Company, Gilead Sciences Inc., GlaxoSmithKline plc, Johnson & Johnson, Merck & Co., Novartis AG, Pfizer Inc., Roche Holding Ag, Sanofi SA, Takeda Pharmaceuticals Co., Teva Pharmaceutical Industries Ltd., Vertex Pharmaceuticals Company, Moderna BioTechnology Company
The biopharmaceutical cmo market report table of contents includes:
1. Executive Summary
2. Biopharmaceutical CMO Market Characteristics
3. Biopharmaceutical CMO Market Trends And Strategies
4. Biopharmaceutical CMO Market – Macro Economic Scenario
5. Global Biopharmaceutical CMO Market Size and Growth
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31. Global Biopharmaceutical CMO Market Competitive Benchmarking
32. Global Biopharmaceutical CMO Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Biopharmaceutical CMO Market
34. Biopharmaceutical CMO Market Future Outlook and Potential Analysis
35. Appendix
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