Biopharmaceutical Contract Manufacturing Market to Grow at a CAGR of 8.5% from 2021 to 2028

The rising outsourcing by pharmaceutical companies is one of the most key factors driving the growth of the Biopharmaceutical Contract Manufacturing Market

NEW YORK, UNITED STATES, November 16, 2022 /EINPresswire.com/ -- The rise of CMOs was fueled by the increasing number of drug manufacturing failures. In the past, pharmaceutical companies had undertaken manufacturing facilities to develop innovative drugs. However, to reduce the risk of overcapacities, the demand for manufacturing outsourcing has continuously risen. Recently, Revolo Biotherapeutics entered into a partnership with contract development and manufacturing organization (CDMO)—Northway Biotech—to manufacture Revolo’s binding immuno-regulatory protein 1805.

The partnership included services from cell line development to manufacturing protein with quality assurance and regulatory compliance support. Similarly, Gland Pharma has been manufacturing Remdesivir for four companies, including Mylan, since 2021. Also, the organization increased its manufacturing quotas due to high demand from the companies. In 2019, Samsung Biologics and GI Innovation signed a contract for immunochemotherapy. Under this agreement, Samsung Biologics was providing services ranging from f-cell lines development to production of Phase-I drug substances. The increasing number of contracts between biopharmaceutical companies and contract manufacturing companies shows an increasing market size for the biopharmaceutical contract manufacturing market.

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The biopharmaceutical contract manufacturing market is projected to reach US$ 27,868.50 million by 2028 from US$ 15,735.04 million in 2021; it is expected to grow at a CAGR of 8.5% from 2021 to 2028.

Biopharmaceutical contract manufacturing involves outsourcing various biopharmaceutical production and finishing processes to contract manufacturers. These processes include preclinical studies, cell line development, process development, validation, optimization, formulation development, drug substance manufacturing, drug product manufacturing, fill-finish operation, analytical and quality control studies, and packaging. The major advantage of outsourcing manufacturing and other processes to biopharmaceutical contract manufacturing companies is the decreased capital and operational costs involved in the manufacturing process. Biopharmaceutical contract manufacturing companies have a variety of gene expression systems that is approved by many regulatory agencies. These systems enable the companies in manufacturing of high-quality cGMP products at lesser costs and time.

The biopharmaceutical contract manufacturing market is majorly comprised of top players involving Lonza Group AG, Boehringer Ingelheim International GmbH, Inno Biologics Ventures Sdn Bhd, Thermo Fisher Scientific, AbbVie Inc., WuXi Biologics, General Electric, Samsung Biologics, Merck KGaA, and Ajinomoto Co., Inc, and Inno Bio Ventures Sdn Bhd.

The companies listed above are implementing various strategies that have resulted in the growth of the company and in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.

Below is the list of the growth strategies done by the players operating in the medical laser systems market:

In November-2021, Lonza announced the acquisition of an exosome manufacturing facility located in Lexington, Massachusetts (US) from Codiak BioSciences, a clinical-stage biopharmaceutical company pioneering the development of exosome-based therapeutics. Codiak will retain its pipeline of therapeutic candidates as well as its exosome engineering and drug-loading technologies. Codiak will receive as part of the deal approximately US$65 million of cGMP manufacturing services in kind.

In September-2021, Thermo Fisher invested US$ 82.5 million to expand its biologic drug substance manufacturing facility in St. Louis County. The new project will include a 58,000-square-foot expansion with two new manufacturing suites and the addition of nearly US$ 15 million in new manufacturing machinery and equipment over a two-year period, including the new ability to provide manufacturing and production support at both the 5,000-Liter processing scale as well as continued support at the 2,000-Liter processing scale.

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