Biopharmaceuticals Contract Manufacturing Market Size,Share, Demand And ForecastPosted by Neha Bora on February 1st, 2021 San Francisco, 1 Feb 2021: The Report Biopharmaceuticals Contract Manufacturing Market Size, Share & Trends Analysis Report By Source (Mammalian, Non-mammalian), By Product (Biologics, Biosimilars), By Service (Process Development), And Segment Forecasts, 2021 - 2028 The global biopharmaceuticals contract manufacturing market size is expected to reach USD 25.1 billion by 2028 registering a CAGR of 5.7%, according to a new report by Grand View Research, Inc. 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 company demands with respect to regulatory standards and new services. The reliance of companies on CMOs for the production of biologics and biosimilars is expected to rise over the forecast period as a consequence of changes adopted by the CMOs. This is evident through growing investment in collaborations of companies with CMOs as well as continuous efforts taken up for expanding the service portfolio. The supply chain of biopharmaceuticals remained robust and was largely unaffected worldwide during the coronavirus outburst. Also, biopharmaceutical contract manufacturers are observing increased demand related to the Covid-19 vaccine and therapeutics. Thus, the future holds numerous opportunities for the global market. For instance, in 2020, AstraZeneca and Oxford Biomedica signed a one-year clinical and commercial supply agreement for the manufacturing of AstraZeneca’s Covid-19 vaccine candidate, AZD1222. The future growth of CMOs is highly dependent on the promising opportunities offered by the biopharmaceutical industry, the bioprocessing industry, and the contract service industry. Expansion of fill-and-finish services and increasing robustness of venture capital investments for the life science sector are two important opportunities that are anticipated to drive the market. For instance, in 2019, Shanghai HaiHe Biopharma Co. Ltd. raised USD 146.6 million as venture capital for its large cancer drug portfolio, which they shall utilize along with their outsourcing partner Zhejiang Jiuzhou Pharmaceutical Co., Ltd. Access Research Report of Biopharmaceuticals Contract Manufacturing Market @ https://www.grandviewresearch.com/industry-analysis/biopharmaceuticals-contract-manufacturing-market Biopharmaceuticals Contract Manufacturing Market Report Highlights
List of Key Players in Biopharmaceuticals Contract Manufacturing Market
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