Growing biopharmaceutical pipeline and lack of adequate manufacturing capabilities are two key factors that are driving partnership between large molecule manufacturers and Contract Manufacturing Organizations (CMOs). Contract manufacturers are engaged in broadening their service portfolio to meet the companies demands with respect to regulatory standards and new services.
NEWARK, DE / ACCESSWIRE / August 6, 2024 / The biopharmaceutical contract manufacturing market is expected to be valued at USD 10.7 billion in 2024. The market is projected to progress at a CAGR of 8.8% and reach a market value of USD 25.1 billion by 2034.
The market is witnessing a surge in demand for various reasons. Biologics are complex molecules that require specialized expertise for their manufacture. Therefore, pharmaceutical companies prefer outsourcing their manufacturing processes to CMOs.
Small and mid-sized biopharmaceutical companies lack the resources and expertise to manufacture biologics in-house, further contributing to the demand for CMOs. The biopharmaceutical market is expanding globally, and efficient manufacturing processes are necessary to keep up with the increasing demand.
Request a Sample Now:
https://www.futuremarketinsights.com/reports/sample/rep-gb-2982
The trend driving growth in this market is the use of cell and gene therapies, which require specialized manufacturing facilities and expertise. Contract manufacturing organizations can provide these facilities and expertise, which is why the demand for their services is increasing rapidly.
The risk of intellectual property theft is a major concern for market players. Contract manufacturers frequently operate with several clients and there is a risk that confidential information will be shared or stolen. This is expected to hamper the market's growth over the forecast period. 
This may result in legal challenges and harm the contract manufacturer's reputation. The sector is continuously evolving and new technology and procedures emerge on a regular basis. To stay competitive, contract manufacturers must keep up with the latest advancements.
"The increased usage of biologics in a variety of therapeutic areas, a growing need for customized treatment, and the emergence of new manufacturing technologies that allow for more efficient and cost-effective biopharmaceutical production drive the market's progress," Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Biopharmaceutical Contract Manufacturing Market:
The global biopharmaceutical contract manufacturing market is estimated to register a CAGR of 8.8% through 2034.
The market is expected to reach a valuation of USD 25.1 billion by 2034.
The mammalian-based segment is anticipated to dominate the market, accounting for 73.0% of the market share in 2024.
With a 51.0% market share, the monoclonal antibodies segment is estimated to dominate the market in 2024.
Competitive Landscape:
The biopharmaceutical contract manufacturing industry is getting more competitive as the demand for biologics and biosimilar rises. Companies have a solid reputation for offering high-quality contract manufacturing services to the biopharmaceutical industry. However, some smaller market participants are gaining traction and competing with the larger corporations by providing specialized services and innovative technologies.
16 Key Companies of the Biopharmaceutical Contract Manufacturing Market:
Catalent Inc.
Lonza Group Ag
Patheon N.V. (Thermo Fisher Scientific Inc.)
Abzena Plc.
Sandoz International GmbH (Novartis AG)
Fujifilm Diosynth Biotechnologies (FUJIFILM Holdings)
Baxter Pharmaceutical Solutions LLC (Baxter Inc.)
AbbVie Contract Manufacturing (AbbVie Inc.)
Samsung Biologics Co. Ltd.
ProBioGen AG
Pfizer Centre Source Ltd (Pfizer Inc.)
Novasep
Biomeva GmbH
Kbi Biopharma Inc
Rentschler Biotechnologie GmbH
Ajinomoto Althea Inc. (Ajinomoto Co., Inc.)
Buy this Report Now:
https://www.futuremarketinsights.com/checkout/2982
Key Biopharmaceutical Contract Manufacturing Market Segments:
By Platform Type:
Mammalian Based
Microbial Based
By Product Type:
Monoclonal Antibodies
Recombinant Protein
Vaccine
Insulin
Growth factor
Interferons
Others
By Application Type:
Clinical
Commercial
By Therapeutic Area Type:
Autoimmune Diseases
Oncology
Metabolic Diseases
Ophthalmology
Cardiovascular Diseases
Infectious Diseases
Neurology
Respiratory Disorders
Others
By Region:
North America
Latin America
East Asia
South Asia
Europe
Oceania
MEA
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Have a Look at the Related Report from the Biopharmaceutical Contract Manufacturing Market:
The IVD contract manufacturing market had an estimated market share worth US$ 12.9 billion in 2023, and it is predicted to reach a global market valuation of US$ 46 billion by 2034, growing at a CAGR of 12.1% from 2024 to 2034.
The global high potency API contract manufacturing market garnered a market value of US$ 8 Billion in 2022 and is expected to accumulate a market value of US$ 16 Billion by registering a CAGR of 7% in the forecast period 2022 to 2032. Because of the rising frequency of cancer cases globally, the usage of HPAPIs is increasing, which is driving the market.
The global critical care patient monitoring products market is likely to generate sales amounting to USD 46.5 billion in 2024. Over the assessment period from 2024 to 2034, the critical care patient monitoring products market CAGR is projected to expand to 13.3% culminating in an industry size of USD 161 billion by the end of 2034.
The global  wound filler market is estimated to be worth USD 614.7 million in 2024 and is projected to reach a value of USD 948.7 million by 2034, expanding at a CAGR of 4.4% over the assessment period of 2024 to 2034.
The global  liposuction market is estimated to be worth USD 5323.7 million in 2024 and is likely to achieve USD 10278.5 million by 2034, inferring a CAGR of 6.8% between 2024 and 2034.
The global  dialyzer reprocessing machines and concentrates market is expected to reach a value of USD 1299.2 million in 2024 and is projected to reach a value of USD 2198.2 million by 2034. Sales are expected to rise at a CAGR of 5.4% in the forecast period. A dialyzer reprocessing machines and concentrate's revenues in 2023 were valued at USD 1234.1 million.
The global neuroendocrine carcinoma treatment market is likely to generate revenue amounting to USD 1,976 million in 2024. Over the assessment period, the industry is projected to expand at an 8.1% CAGR, reaching an industry size of USD 4,305.7 million by the end of 2034.
The  smart wheelchair market is anticipated to record a value of USD 185.7 million in 2024. The industry is projected to witness a CAGR of 7.8% in the ten-year time frame. The revenue projection for smart wheelchairs is going to be USD 393.5 million by 2034.
The  meningococcal vaccine market has been experiencing significant growth in the past few years, thanks to the rising incidences of the disease worldwide. The valuation, as of 2024, is estimated to be around USD 3950.2 million and is slated to reach USD 9014 million by the end of 2034. Inferring to the ongoing trends, the industry is very likely to showcase a CAGR of 8.6% for the forecast period of 2024 to 2034.
The  dental ceramic market forecast suggests that the sector is on track to reach USD 385.6 million in 2024. The projected elevation of the global dental ceramic market size is set to help the industry reach USD 664.9 million by 2034. This growth is likely to be accomplished at a moderate CAGR of 5.6% throughout the forecasted era.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:      
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Website: https://www.futuremarketinsights.com
LinkedIn | Twitter | Blogs | YouTube
SOURCE: Future Market Insights Inc.