Increasing chronic disease is expected to drive the growth of global biosimilar contract manufacturing in the forecast period, 2024-2028.
According to TechSci Research report, “Biosimilar Contract Manufacturing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, the global biosimilar contract manufacturing market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the increasing prevalence of diabetes, various type of cancers, neurological disorders, and availability of biosimilar at lower costs over branded products across the globe. Additionally, increasing focus on contract developments in countries like China, India and increasing prevalence of auto immune diseases are expected to create lucrative opportunities for the market growth in coming years. Besides, increasing research and development activities in biotechnology industry is further expected to support the market growth. Similarly, growing demand for low cost and highly efficient therapeutics is also expected to create significant growth during the forecasted period. Also, the growing demand for manufacturing along with the growing production of microbial products such as cytokines, hormones, enzymes, and MABs will drive the growth of the market during the forecasted period.
However, high cost of biosimilar drugs and subsequent therapies for the treatment of chronic diseases tend to slow down the growth of global biosimilar contract manufacturing market in the forecast period. Similarly, high risks and complications associated with biosimilar drugs and lack of skilled professionals may hamper the biosimilar contract manufacturing market growth during the forecast period. Also, poor reimbursement scenario and lack of insurance coverage for cancer treatment in emerging countries can further restrict the growth of global biosimilar contract manufacturing market.
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The global biosimilar contract manufacturing market can be segmented by product, by technology, by application and by region.
Based on the Product, the global biosimilar contract manufacturing market can be divided into Recombinant Non-glycosylated Proteins v/s Recombinant Glycosylated Proteins. The recombinant non-glycosylated protein segment dominated the market in 2021 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to the increasing demand for monoclonal antibodies and the rising incidence of diabetes. Similarly, increasing cancer cases around the world are also demanding for biosimilar contract manufacturing market during the forecasted years.
Based on Application, the market can be segmented into Oncology, Blood Disorders, Growth Hormonal Deficiency, Chronic & Autoimmune Disorders, Rheumatoid Arthritis, Others. The oncology segment is expected to dominate during the forecast period on account of increasing prevalence of cancer, including liver, lung, blood cancers and high cost of cancer drugs and treatment.
Major companies operating in global biosimilar contract manufacturing market are:
- Catalent, Inc.
- Boehringer Ingelheim GmbH
- Alcami Corporation, Inc.
- Almac Group
- Lonza Group AG
- Biocon Limited
- Avid Bioservice, Inc
- Rentschler Biopharma SE
- Fujifilm Kyowa Kirin Biologics Co., Ltd.
- WuXi Biologics, Inc.
On August 25, 2021, Cipla Limited, a leading global pharmaceutical company, and Kemwell Biopharma Private Limited, a leading biopharmaceutical Biopharmaceuticals Contract Manufacturing (CDMO) announced the execution of a joint venture agreement to develop, manufacture and commercialize biosimilars for global markets.
On August 28, 2020, iBio and Planet Biotechnology entered into an exclusive worldwide license agreement for the development of a COVID-19 therapeutics.
on April 13, 2021, Lonza, a leading global Biopharmaceuticals Contract Manufacturing (CDMO)/ CMO, and Junshi Biosciences, an innovative Chinese pharmaceutical company collaborated to accelerate the development and manufacturing of biologics using Lonza’s GS Xceed® Gene Expression System.
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“The North American region is expected to dominate in the global biosimilar contract manufacturing market due to the increasingly developed biosimilar contract organizations in the developing countries. Furthermore, increasing developed healthcare infrastructure and increasing product introductions are further contributing to the demand for biosimilar contract manufacturing. Similarly, growing approvals of biosimilar drugs in recent years and growing demand for less expensive therapeutic products, and the high prevalence of chronic diseases are expected to drive market growth over the years. Additionally, the increasing the incidence of non-communicable diseases such as diabetes and autoimmune disorders is fueling the demand for cost-effective treatments and will drive market growth over the years. Besides, increasing demand for less expensive therapeutic products and increasing prevalence of chronic diseases like cancers in the region are further expected to create lucrative opportunities for the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Biosimilar Contract Manufacturing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Product (Recombinant Non-glycosylated Proteins v/s Recombinant Glycosylated Proteins), By Technology (Mammalian v/s non-Mammalian), By Application (Oncology, Blood Disorders, Growth Hormonal Deficiency, Chronic & Autoimmune Disorders, Rheumatoid Arthritis, Others), By Region and Competition”, has evaluated the future growth potential of global biosimilar contract manufacturing market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global biosimilar contract manufacturing market.
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