Market Insights on Biopharmaceutical Contract Manufacturing covering sales outlook, demand forecast & up-to-date key trends
Reduced overall time to market investment in new drugs, access to expensive technologies, and greater flexibility are some advantages offered by biopharmaceutical manufacturing companies. On the back of these factors, several large companies have outsourced their biopharmaceutical manufacturing operations. Biopharmaceutical contract manufacturing is highly preferred among biopharmaceutical companies with limited in-house production capacity.
Pharmaceutical companies mainly focus on core areas of competence, and hence, do not prefer to take financial risks in the event of formulating the final dose of medicines. This is anticipated to accelerate the growth of the global biopharmaceutical contract manufacturing market during forecast period, estimated to be valued at US$ 18.7 Bn by 2029.
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Key Takeaways of Biopharmaceutical Contract Manufacturing Market Study
List of Key Players Covered in Biopharmaceutical Contract Manufacturing market are:
“Asia Pacific is gaining attention among manufacturers for biologics production at reduced manufacturing cost. Emerging regions offering greater profit margins are major focus points for biopharmaceutical contract manufacturing, globally.”
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Regional Insights
The U.S. dominates the North American region with a total market share of 91.0% in 2021 and is projected to continue experiencing high growth throughout the forecast period.
Germany is set to exhibit a CAGR of over 11.5% in the European biopharmaceutical contract manufacturing market during the forecast period. In this region, the next generation therapy market is believed to be driven by biological treatment options compared to the pharmaceutical option.
China holds 34.8% share in the East Asia market in 2021 and is projected to increase at a CAGR rate of 13.5% during the forecast period. The growth of the biopharmaceutical contract manufacturing market in the country is growing because, most of the pharma and biopharma companies are focusing to capitalize on the growth.
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Biopharmaceutical Contract Manufacturing Market , Biopharmaceutical Contract Manufacturing Market Size , Biopharmaceutical Contract Manufacturing
Jul 07, 2022