Acumen Research and Consulting, recently published report “Biopharmaceutical CMO and CRO Market Size, Share, Trends, Growth and Forecast, 2019 - 2026”.
LOS ANGELES, May 20, 2019 (GLOBE NEWSWIRE) -- The Global Biopharmaceutical CMO & CRO Market is estimated to grow at CAGR above 7.5 % over the forecast time frame 2019-2026 and reach the market value around USD 39 billion by 2026.
The market is driven considerably by the growing interest in biological therapy for conventional drug developers. The outsourcing strategy has currently become a cost saving strategy for small-to medium-sized biomass manufacturers, which helps remove the need for expensive specialty equipment or recruitment and training.
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The decrease in R&D productivity and higher development costs has led to a high pressure for short-term profits and profit margins on biopharmaceutical producers. The Contract Manufacturing Organisations (CMOs) and contract research organizations (CRO's) have thus created lucrative opportunities to accelerate their activities.
Robust investment in risk capital is one of the key drivers for growth opportunities for CMOs. Venture capital funds are more trustworthy than public equity. The increased availability of life sciences venture funds will further enhance CMO growth. These CMOs and CROs, however, face competition from pharmaceutical and biotech companies' in-house departments. Several major pharmaceutical companies like Novartis have announced that the biomass production will continue in their own countries.
The biggest share in revenues was in 2018 in mammalian cell line-based bioproduction systems. Include growth of mammalian system titers and yields as responsible for this estimated share. CMOs standardize their mammalian systems, driving the segment's revenue growth. Contract Research Service is expected to be the fastest growing segment over the projected period due to increased investments in new therapeutic research programs. The CMOs benefit greatly from the continuous growth of biological products on the market.
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A number of US biopharmaceutical companies consider developing pharmaceutical products in Asian countries. The main cause of this is the growing R&D expenses at home and the presence in Asian countries of low-cost production facilities and cheap work. The key players will also build mutually beneficial alliances with other emerging CMOs in order to increase production capacity.
Key Findings
In 2018, the bioproductive system based on mammalian cell lines represented the largest sales share in the market.
Plant based systems for the production of large molecules are developed and explored as an economical alternative.
Because of the wide range of services from developing the cell lines to finishing packaging, contract manufacturing services have represented the biggest market share.
Recently, the biotechnological industry is more specialized, which has led to a large portion of the biopharmaceutical CMO & CRO market for the CMO & CROs being part of the clients ' biological strategies.
The biopharmaceutical industry in North America is recognized as an innovation market leader, which leads to a large portion of the region.
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Key Players & Strategies
Due to the presence of a large number of developed, medium to small CMOs and CROs, this market is fragmented in nature. Many market participants are held in private or form part of the portfolios of private equity firms. Some key CMOs are Boehringer Ingelheim GmbH, Lonza, Rentschler Biotechnologie GmbH, JRS Pharma (Celonic GmbH), TOYOBO Biologics, LTD, FUJIFILM Diosynth Biotechnologies U.S.A., Patheon, CMC Biologics, and WuXi Biologics.
In order for CMOs to improve the project performance and product quality their automation and innovative technologies are integrated in their plants. The interest of large molecular producers in the CMOs has thus driven them to congregate the mounting demand for biologics. Charles River Laboratories International (LC) Inc.; PRA Health Sciences; LabCorp; ICON plc.; and Parexel International Corporation are committed to offering contract research services for large molecular production. Contract research services for large molecular production.
It is observed that outsourcing services are crucial in the overcoming of business barriers. They can make footprints in foreign markets where governments regulate local jobs by domestic production. In addition to this, small companies also began to expand their non-GMP facilities as a result of the rising demand for these services.
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