Biologics Contract Development and Manufacturing Organization (CDMO) Market Forecasts to 2028 – Global Analysis By Type (Mammalian, Non-mammalian (Microbial), Product (Biologics, Biosimilars), Service, Application and By Geography
According to Stratistics MRC, the Global Biologics Contract Development and Manufacturing Organization (CDMO) Market is accounted for $9.93 billion in 2020 and is expected to reach $25.48 billion by 2028 growing at a CAGR of 12.5% during the forecast period. Rising number of pharmaceutical and biopharmaceutical companies in the emerging economies, high demand for novel therapeutics applications, and increasing demand for small molecules and biologics are the major factors propelling the market growth. However, stringent government regulations in the drug approval process and lack of investment are hampering the market growth.
Biologics production has mushroomed in recent years with massive investments from big bio-pharma and contract manufacturing alike. The increasing outsourcing trend by small and large pharmaceutical companies represents a promising opportunity for contract development and manufacturing organizations (CDMOs). As pharma shifts its focus to more research and development and less in-house manufacturing, CDMOs are well positioned to fill the gap between their clients and the patient. CDMOs give pharmaceutical and biologic manufacturers one of the most important assets in today’s fast-paced world. By outsourcing manufacturing processes, pharmaceutical and biologic manufacturers can free-up the internal resources required to prioritise internal capacities and enhance process efficiencies.
Based on product, the biologics segment is going to have a lucrative growth during the forecast period owing to the most successful therapeutic drug classes and attracting huge investment for the biologics industry. Since biologics have been dominating the human drug development because of their long-lasting effects and ability to precisely address the molecular causes of disease, the CDMOs are increasing in demand thereby escalating growth of the segment.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the growing number of pharmaceutical companies in emerging economies such as India and China. In particular, global companies are choosing India owing to the high production of biosimilars in the country. Moreover, the low cost of manufacturing activities and skilled labor are the major factors drivers of this market region.
Some of the key players profiled in the Biologics Contract Development and Manufacturing Organization (CDMO) Market include AbbVie Contract Manufacturing, AGC Biologics, Binex Co. Limited, Boehringer Ingelheim Group, Catalent Inc., Fujifilm Diosynth Biotechnologies USA Inc., JRS Pharma, Lonza Group, Parexel International Corporation, PRA Health Sciences, Rentschler Biotechnologies, Samsung Biologics, Sandoz Biopharmaceuticals (Novartis AG), Toyobo Co. Limited, and Wuxi Biologics.
• Non-mammalian (Microbial)
• Contract Manufacturing Organization (CMO)
• Contract Research Organization (CRO)
• Big Pharma
• Generic Pharma
• Small Pharma
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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