- The biologics contract manufacturing market is estimated to gain revenue-generating opportunities owing to rising efforts to commercialize ublituximab for the treatment of blood cancer
- Biotech and pharmaceutical companies are entering into agreements and mergers with contract manufacturers to cater to the rising demand for COVID-19 vaccines
ALBANY, N.Y., Jan. 7, 2022 /PRNewswire/ -- A study by Transparency Market Research (TMR) projects the global biologics contract manufacturing market to expand at a CAGR of 12.2% during the forecast period, 2021 to 2031.
Several healthcare professionals are mainly focusing on the use of monoclonal antibodies as a key therapeutic in the blood cancer treatment. Thus, to capitalize on such trends, biopharmaceutical companies are expanding their production capabilities in monoclonal antibodies.
Several enterprises operating in the biologics contract manufacturing market are collaborating with other companies in order to boost the production of ublituximab as well as support its commercialization. Furthermore, they are focused on catering to the globally increasing demand for ublituximab.
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Biologics Contract Manufacturing Market: Key Findings
- With the growing use of biotech 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 next-gen drugs. This factor is estimated to help the biologics contract manufacturing market to expand at rapid pace and gain the valuation of US$ 47.3 Bn by 2031.
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- Companies in the biologics contract manufacturing market are increasing their R&D activities in order to develop RNA-based COVID-19 vaccines, as the demand for these vaccines is increasing. As a result, several companies are adopting the strategies of mergers and agreements to meet the rising demand for COVID-19 vaccines from across the globe.
- The North America market is expected to expand at a CAGR of 11.7 % during the forecast period and reach US$ 19.5 Bn by 2031, states the TMR report on the biologics contract manufacturing market. This can be attributed due to the presence of leading players in the regional pharmaceutical industry. Moreover, rise in the use of next-gen technologies, such as chimeric antigen receptor (CAR)-T-cell therapies, checkpoint inhibitors (e.g. PD1), monoclonal antibodies (mAbs), and antibody drug conjugates (ADCs) is playing a key role in the regional market expansion.
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Biologics Contract Manufacturing Market: Growth Boosters
- Increase in cases of osteoporosis and rheumatoid arthritis is boosting the demand for biologics, which, in turn, is resulting in revenue-generation opportunities for the biologics contract manufacturing market
- The market is projected to be driven by the expansion of the biopharmaceutical industry and a promising drug pipeline
Biologics Contract Manufacturing Market: Competition Landscape
- Many players are focusing on the utilization of dependable and advanced technologies, hi-tech analytical services, and next-gen manufacturing equipment in order to stay ahead of the competition, notes the survey on the global biologics contract manufacturing market
- Major players operating in the biologics contract manufacturing market are using strategies of mergers and acquisitions in order to expand their production capabilities
- Several companies are focusing on the launch of manufacturing plants in newer geographies. Such activities are estimated to drive the market in the near future.
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Biologics Contract Manufacturing Market: Key Players
Some of the key players profiled in the report include:
- Samsung Biologics Co., Ltd.
- Lonza Group
- Cambrex Corporation
- Patheon by Thermo Fisher Scientific, Inc.
- Fujifilm Holding Corporation
- Siegfried Holding AG
- Boehringer Ingelheim
- AbbVie, Inc.
- WuXi Biologics
- Recipharm Pharmaceuticals.
- Catalent, Inc.
Biologics Contract Manufacturing Market Segmentation
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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