The Biopharmaceutical CMO Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Biopharmaceutical CMO Market:
According to The Business Research Company’s Biopharmaceutical CMO Global
Market Report 2024, The biopharmaceutical cmo market size has grown rapidly in
recent years. It will grow from $21.72 billion in 2023 to $24.68 billion in
2024 at a compound annual growth rate (CAGR) of 13.6%. The
growth in the historic period can be attributed to increasing demand for
biopharmaceuticals, globalization, rise in healthcare expenditure, regulatory
support, increased research funding.
The biopharmaceutical cmo market size is expected to see rapid growth in the
next few years. It will grow to $41.87 billion in 2028 at a compound annual
growth rate (CAGR) of 14.1%. The growth
in the forecast period can be attributed to rise in telehealth and remote
trials, global health initiatives, rise in disposable income, global health
initiatives. Major trends in the forecast period include advanced therapies
dominance, digitalization and industry 4.0, continuous manufacturing,
sustainability and green practices.
An increase in the robustness of venture capital investments for the life
science sector is expected to propel the growth of the biopharmaceutical CMO
market. The life sciences sector refers to the businesses and organizations
that conduct research and development on living beings. The robustness of
venture capital investments is a feature describing the capacity of a model,
test, or system to function correctly when its parameters or presumptions are
changed. As the investment in the life science sector increases, there will be
an increase in the manufacturing of biopharmaceuticals. For instance, in
September 2021, according to JLL, a US-based company specializing in investment
consultancy, the record amount of venture capital was raised in the UK over the
last three months, with £1.9 billion raised between 1 June and 26 August 2021.
This incredible investment brings the UK total for 2021 to £4.25 billion
($5.787 billion) YTD, up from £2.8 billion in 2020. Therefore, an increase in
the robustness of venture capital investments for the life science sector is
driving the biopharmaceutical CMO market growth.
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The biopharmaceutical cmo market covered in this report is segmented –
1) By Product: Biologics, Biosimilars
2) By Source: Mammalian, Non-Mammalian
3) By Service: Manufacturing, Fill And Finish Operations, Analytical And QC
Studies, Packaging
Technological advancement is a key trend gaining popularity in the
biopharmaceutical CMO market. Major companies in the biopharmaceutical CMO
market are advancing in their new technologies and research and development
using Iot. The Internet of Things (IoT) refers to the application of networked
sensors and actuators to regulate and observe the environment, the objects that
move within it, and the people who act within it. A vast amount of data can be
produced by sensors, actuators, and other components integrated into
manufacturing machinery and networked computer systems. The data can be
analyzed for insights and opportunities to increase production efficiency,
automate monitoring and controlling tasks, and enable adaptable manufacturing
systems. For instance, in February 2022, M2Cloud, a Korea-based bio-cold chain
technology company, along with Thales, a France-based company specializing in
IoT communication modules, developed an IoT-based LTE monitoring system for
biopharmaceutical monitoring. It is helpful in the real-time monitoring of
freezers, refrigerated warehouses, etc., along with tracking the delivery boxes
being delivered in real-time. It can remotely verify temperature and position
information in real time by just turning on the power. With technologies designed
for biopharmaceutical management, it increases the safety of pharmaceutical
products.
The biopharmaceutical cmo market report table of contents includes:
1. Executive Summary
2.
Biopharmaceutical CMO Market Characteristics
3.
Biopharmaceutical CMO Market Trends And Strategies
4.
Biopharmaceutical CMO Market - Macro Economic Scenario
5. Global
Biopharmaceutical CMO Market Size and Growth
.
31. Global Biopharmaceutical CMO Market Competitive Benchmarking
32. Global
Biopharmaceutical CMO Market Competitive Dashboard
33. Key
Mergers And Acquisitions In The Biopharmaceutical CMO Market
34.
Biopharmaceutical CMO Market Future Outlook and Potential Analysis
35.
Appendix
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