BIOSIMILAR CONTRACT MANUFACTURING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The Global Biosimilar Contract Manufacturing Market is estimated to be valued at USD 10.70 Bn in 2024 and is expected to reach USD 30.03 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 15.9% from 2024 to 2031. Biosimilars are biological products designed to have highly similar therapeutic effect to an already approved biologic product, known as the reference product or originator product. With the patent expiry of several blockbuster biologics, biosimilars provide an opportunity for patient access to more affordable healthcare. Contract manufacturing organizations (CMOs) aid pharmaceutical companies in manufacturing biosimilars to exacting quality standards through process development and scaling up. Offloading biosimilar manufacturing to CMOs allows drug makers to focus on core competencies such as R&D.
Market Dynamics:
The global biosimilar contract manufacturing market growth is driven by the growing demand for affordable biosimilars due to patent expiration of biologics and increasing focus on biosimilars due to their cost-effectiveness. However, high capital investment requirements for setting up biosimilar manufacturing facilities and stringent regulatory standards for biosimilars pose challenges to market players. On the other hand, emerging markets, such as Asia Pacific and Latin America, present significant revenue potential with improving healthcare infrastructure and patient access to biosimilars in these regions. Contract manufacturers have opportunities to provide end-to-end services from cell line development to commercial manufacturing of biosimilars and help expand market reach.
Key Features of the Study:
- This report provides in-depth analysis of the global biosimilar contract manufacturing market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global biosimilar contract manufacturing market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Biocon, Amgen, Pfizer, Boehringer Ingelheim, Lonza, Catalent, Wuxi Biologics, AbbVie, Merck KGaA, Rentschler Biopharma, Almac Group, Fujifilm Diosynth Biotechnologies, Evonik Industries, and Avid Bioservices
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global biosimilar contract manufacturing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global biosimilar contract manufacturing market
Market Segmentation
Market Segmentation
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