Global Biopharmaceutical CMO & CRO Market is Expected to Reach $27.95 Billion by 2028: Players Include Toyobo, Samsung Biologics, Patheon, AbbVie and Binex - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Biopharmaceutical CMO & CRO Market Size, Share, Growth Analysis, By Source, By Service - Industry Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The global biopharmaceutical CMO and CRO Market was valued at USD 20.1 billion in 2021, and it is expected to reach a value of USD 27.95 billion by 2028, at a CAGR of 4.4 % over the forecast period (2022-2028).

Companies Mentioned

• Boehringer Ingelheim GmbH
• Lonza Group AG
• Inno Biologics Sdn Bhd
• Rentschler Biopharma SE
• JRS Pharma
• Biomeva GmbH
• ProBioGen AG
• Fujifilm Diosynth Biotechnologies U.S.A., Inc.
• Toyobo Co., Ltd.
• Samsung Biologics
• Patheon
• CMC Biologics
• WuXi Biologics
• AbbVie Inc.
• Binex Co., Ltd.
• Charles River Laboratories International, Inc.
• PRA Health Sciences
• Parexel International Corporation

The abbreviations for contract research organisations and contract manufacturing companies in the pharmaceutical industry are biopharmaceutical CMO and CRO, respectively. A company that provides full-service drug manufacturing to other pharmaceutical companies in order to develop new medications is known as a contract manufacturing organisation (CMO).

On a contract basis, contract research organisations (CROs) offer research services to the pharmaceutical, biotechnology, and medical device industries. This includes preclinical research, clinical trials, the development of biological assays, and the marketing of those assays.

The biopharmaceutical industry's CMO and CRO are essential to its success. Directly impacted by the biopharmaceutical industry are the CMO and CRO. Consumer demand for biopharmaceutical treatments has been a major driver of the biopharmaceutical industry's phenomenal growth. The biopharmaceutical industry is expanding quickly globally and already makes up more than 20% of the entire pharmaceutical industry.

Segments covered in this report

Global Biopharmaceutical CMO and CRO Market is segmented based on the source, service, product, and region. Based source, the market is segmented into mammalian, and non-mammalian.

Based on service, the market is segmented into contract manufacturing (process development, downstream, upstream, fill & finish operations, analytical & QC studies, and packaging), contract research (oncology, inflammation & immunology, cardiology, neuroscience, and others).

Based on product, the market is categorized into biologics (monoclonal antibodies (MAbs), recombinant proteins, vaccines, antisense, RNAI, & molecular therapy, and others), biosimilars. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.

Driver

There have been a lot of mergers and acquisitions in the biopharmaceutical industry recently. Through these mergers, the contract manufacturing and service sectors for biopharmaceuticals hope to grow their businesses and maintain their competitiveness. Contract bio producers are probably going to be under more pressure as a result of new pharmaceuticals, new bioprocessing techniques, and a significant change in the bio/pharmaceutical market's commodity structure.

As a result of these worries, alternative business models are being developed more frequently to satisfy the needs of their various stakeholders and customers. The biopharmaceutical CMO and CRO market is anticipated to grow quickly in the coming years as a result of these factors. The market is expected to grow and manufacturing capacity to rise with the implementation of single-use systems in these production facilities. Throughout the forecast period, this is expected to present fresh opportunities for market expansion globally.

Restraint

The biopharmaceutical CMO market has profit margins of more than 30%, as opposed to the pharmaceutical CMO market for biopharmaceuticals, which has profit margins of 5% to 10%. Investments in new manufacturing facilities and equipment to speed up biomanufacturing are the main factors limiting the market's growth to some extent.

The market's expansion is also hampered by the limited outsourcing employed by well-established biopharmaceutical companies. The regulatory environment and the complexity of the service itself have both been reported to make contract negotiations between CMOs and customers difficult. Due to issues like intellectual property rights, warranties, and confidentiality, client-CMO negotiations can be challenging.

Market Trends

New growth strategies are being used by the major players in the biopharmaceutical CMO and CRO industries. One of the most important ways to boost market growth is to increase R&D spending and activity.

Other growth strategies to gain a competitive edge in the global market include geographic expansions, new product development, teaming up with other industry players, distribution network expansion, and mergers and acquisitions.

The COVID-19 vaccine will be produced commercially by a partnership between Lonza and Moderna over a ten-year period. Clinical trial delays in the first half of 2020 were made up for by these discoveries. The industry of contract manufacturing companies is anticipated to exhibit significant growth potential in the near future.

As a result of declining R&D efficiency and rising development costs, the short-term revenues and profit margins of biopharmaceutical businesses are coming under increasing pressure. This has created attractive opportunities for CMOs and CROs to accelerate their commercial operations.

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