Biologics Contract Manufacturing Market To Exceed US $ 47.3 Billion By 2031, Finds TMR Study | News

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ALBANY, NY, January 7, 2022 / PRNewswire / – A study by Transparency Market Research (TMR) predicts that the global contract manufacturing market for biologics will grow at a CAGR of 12.2% during the forecast period, 2021 to 2031.

Several healthcare professionals focus primarily on the use of monoclonal antibodies as a key therapy in the treatment of blood cancer. Thus, to capitalize on these trends, biopharmaceutical companies are expanding their capacity to produce monoclonal antibodies.

Several companies operating in the biologics contract manufacturing market are working with other companies to stimulate the production of oblituximab and to support its commercialization. In addition, they are focused on meeting the growing global demand for Oblituximab.

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Biologics Contract Manufacturing Market: Key Findings

  • With the increasing use of biotechnology drugs such as monoclonal antibodies and recombinant proteins, there is a significant growth in the use of glass drug containment solutions as well as drug delivery devices for new drugs. generation. This factor is believed to help the biologics contract manufacturing market to develop at a rapid pace and achieve the valuation of US $ 47.3 billion by 2031.

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  • Companies in the contract manufacturing market for biologics are increasing their R&D activities to develop RNA-based COVID-19 vaccines, as the demand for these vaccines increases. As a result, several companies are adopting merger and deal strategies to meet the growing demand for COVID-19 vaccines around the world.
  • the North America the market is expected to grow at a CAGR of 11.7% during the forecast period and reach US $ 19.5 billion by 2031, says TMR’s report on the Biologics Contract Manufacturing Market. This can be attributed to the presence of leading players in the regional pharmaceutical industry. In addition, the increasing use of next-generation technologies, such as chimeric antigen receptor (CAR) -T cell therapies, checkpoint inhibitors (e.g. PD1), monoclonal antibodies (mAb ) and antibody-drug conjugates (ADCs) play a key role. role in regional market expansion.

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Biologics Contract Manufacturing Market: Drivers of Growth

  • Rising cases of osteoporosis and rheumatoid arthritis are driving the demand for biologics, which in turn creates revenue-generating opportunities for the biologics contract manufacturing market.
  • Market expected to be driven by expanding biopharmaceutical industry and promising drug pipeline

Biologics Contract Manufacturing Market: Competition Landscape

  • Many players are focused on using reliable and advanced technologies, high-tech analytical services and next-generation manufacturing equipment to stay ahead of the competition, notes the global market survey contract manufacturing of organic products.
  • Major Players Operating in Biologics Contract Manufacturing Market Employ M&A Strategies to Expand Production Capabilities
  • Several companies are focused on launching manufacturing plants in new geographies. It is estimated that such activities will stimulate the market in the near future.

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Biologics Contract Manufacturing Market: Key Players

Some of the major players featured in the report include:

  • Samsung Biologics Co., Ltd.
  • Lonza Group
  • Cambrex Company
  • Patheon by Thermo Fisher Scientific, Inc.
  • Fujifilm Holding Company
  • Siegfried Holding AG
  • Boehringer Ingelheim
  • AbbVie, Inc.
  • WuXi organic products
  • Pharmaceuticals Recipharm.
  • Catalent, Inc.

Segmentation of the contract manufacturing market for organic products

Type

  • Monoclonal antibodies
  • Recombinant proteins
  • Vaccines
  • Molecular therapy
  • Others (RNAi, antisense RNA, etc.)

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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