Pune, India, Jan. 22, 2021 (GLOBE NEWSWIRE) -- The global Biopharmaceutical CMO Market is projected to showcase an impressive growth owing to the increasing need to outsource the manufacturing process in the biopharmaceutical industry, observes Fortune Business Insights™ in an upcoming report, these organizations allow pharmaceutical companies to outsource some aspects of their business, which saves their valuable time and aids them to focus on the development of drugs.
While making the report, we segmented the market on the basis of product, type, consumption, distribution channel, and region. Based on the segmentation, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included the study of core competencies of key players and their market share to anticipate the degree of competition. The bottom-up procedure was conducted to arrive at the overall size of the market.
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Increasing Adoption of CMOs in Biopharmaceutical Space to Drive Growth
The rising demand for specialized work force and the high cost associated with the facility setup have resulted in the increasing adoption of CMOs in the biopharmaceutical industry. This is expected to drive the growth of the global biopharmaceutical CMO market. In addition, increasing mergers and acquisitions among key players and rising venture capital investments are some of the major factors enhancing the demand, which is anticipated to further strengthen growth. However, the rising competition among prominent players is expected to restrain growth.
The COVID-19 contagion has compelled the world to develop a vaccine for the virus at a rapid pace. This is expected to drive the market for biopharmaceutical CMOs. However, the scale at which the production is assumed to take place is a major challenge for most of the renowned players. At Fortune Business Insights™, we are providing actionable insights by closely studying multiple aspects of the current scenario. We are also offering firsthand information on various market trends through our comprehensive research reports.
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Presence of Major Biopharmaceutical Facilities in U.S. to Help North America Dominate
The U.S. being home to the largest market for biopharmaceuticals, North America is projected to lead the global biopharmaceutical CMO market. According to the Pharmaceutical Research and Manufacturers Association (PhRMA), the firms present in the U.S. collectively conduct more than 50% of the world's R&D in pharmaceuticals.
The market in Asia Pacific is estimated to expand at rapid pace during the forecast period. Cost associated benefits, such as, lower labor costs and operating costs from outsourcing in Asian countries are expected to drive the growth in the region.
Adopting Expansion Strategies to Aid Key Players to Gain Share
Prominent enterprises operating in the global biopharmaceutical CMO market are focusing on expanding their businesses. They are adopting expansion strategies, mergers and acquisitions, in order to increase their shares. For instance, in April 2016, Recipharm announced the acquisition of the Pharmaceutical Contract Development and Manufacturing Operations (CDMO) of Kemwell.
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Industry Developments-
- In November 2019, JW Pharmaceutical launched its joint-stock company and a CMO business in Vietnam.
- In February 2017, Sanofi and Lonza entered into a strategic partnership to establish a large-scale biologics production facility in Switzerland.
A List of Key Manufacturers Operating In the Global Biopharmaceutical CMO Market Report:
- Rentschler Biotechnologie SE
- Lonza
- Boehringer Ingelheim GmbH
- Kemwell Biopharma
- Inno Bio Ventures Sdn Bhd
- ProBioGen AG
- FUJIFILM Diosynth Biotechnologies U.S.A., Inc.
- TOYOBO CO., LTD.
- Others
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Market Segmentations:
By Service Type
• Bio-manufacturing
o Upstream
o Downstream
• Fill & Finish Operations
• Analytical & QC Studies
• Packaging
By Product
• Monoclonal Antibodies
• Vaccines
• Recombinant Proteins
• Antisense, RNAi, & Molecular Therapy
• Others
By Geography
• North America (USA, Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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