BIOPHARMACEUTICAL CONTRACT MANUFACTURING MARKET ANALYSIS

Market Challenges And Opportunities

Companies operating in the global market are focusing on technological advancement such as use of Artificial Intelligence in biologics manufacturing is anticipated to propel the market growth over the forecast period. For instance in January 2020, iBioPharma Inc., a biotechnology company entered into collaboration EdgePoint AI, a division of Mateon Therapeutics to use EdgePoint’s proprietary artificial intelligence (AI)/blockchain-driven vision system for pharmaceutical manufacturing which known as TrustPoint Fabric. It provides highest level of compliance to the pharmaceutical industry’s standards for data integrity and enhanced automation capabilities which are expected to lower operating costs while improving quality for clients of iBio’s biologics contract development and manufacturing services.

Besides, existing companies are investing to increase its manufacturing capabilities. In October 2019, Mesoblast, an Australian-based regenerative medicine company and Lonza entered into an agreement for commercial manufacturing of Mesoblast’s allogeneic (off-the-shelf) cell therapy product candidate, remestemcel-L. The agreement enables Lonza to expand its Singapore cGMP facilities and also anticipates to introduce new technologies and process improvements which are expected to result in significant increase in its manufacturing yields and efficiencies.