Biopharmaceutical CMO And CRO Market Is Expected To Reach USD 49.2 Billion By 2028

 San Francisco, 22 April 2021: The Report Biopharmaceutical CMO And CRO Market Size, Share & Trends Analysis Report By Source (Mammalian, Non-mammalian), By Service Type (Contract Manufacturing, Contract Research), By Product, And Segment Forecasts, 2021 - 2028

The global biopharmaceutical CMO and CRO market size is expected to reach USD 49.2 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.6% from 2021 to 2028. The market is significantly driven by the growing interest of conventional drug developers in biological therapeutics. At present, outsourcing has become a cost-saving strategy for small to medium-sized bio-manufacturers as it helps in eliminating the need for establishing costly specialized facilities or hiring and training personnel.

The global market for biopharmaceutical CMO and CRO is expected to thrive during the pandemic owing to positive pipeline development across modalities. For instance, Lonza and Moderna announced a ten-year collaboration for the commercial manufacturing of the COVID-19 vaccine. Such developments compensated for minor delays in clinical trials that occurred during the first half of 2020. The contract manufacturing organization segment is projected to unlock lucrative growth opportunities over the foreseeable future.

The decline in R&D productivity and increased development costs have resulted in high pressure on biopharmaceutical manufacturers pertaining to short-term earnings and profit margins. This, in turn, has created lucrative opportunities for the CMOs and CROs to accelerate their business operations.

The mammalian source segment dominated the market in 2020. CMOs are engaged in standardizing their mammalian systems, thereby driving the revenue growth in the mammalian segment. Plant-based expression systems are developed and explored as a cost-effective alternative for the production of large molecules.

The robustness of venture capital investments is one of the important supportive factors that has created opportunities for the growth of CMOs. Venture capital funds are considered more reliable than public equity. An increase in the availability of venture funds for life sciences is expected to bolster the growth of CMOs.

However, these CMOs and CROs are facing competition from in-house departments of pharmaceutical and biotechnology companies. Several big pharma companies like Novartis announced to keep their biomanufacturing process in-house.

Some key CMOs are Lonza; Boehringer Ingelheim GmbH; Patheon; Samsung BioLogics; and FUJIFILM Diosynth Biotechnologies U.S.A., Inc. The key players are involved in establishing mutually beneficial alliances with other emerging CMOs to scale up their production capabilities.

Access Research Report of Biopharmaceutical CMO And CRO Market @ https://www.grandviewresearch.com/industry-analysis/biopharmaceutical-cmo-cro-market

Biopharmaceutical CMO & CRO Market Report Highlights

• Based on source, mammalian cell line-based bioproduction system accounted for the largest revenue share of 54.0% in 2020 due to the growth in mammalian system titers and yields
• By service type, contract manufacturing services accounted for the largest share of 57.7% in 2020 owing to the presence of a wide range of services from cell line development to the final packaging of the product
• Contract research services are expected to expand at the fastest CAGR of 8.4% over the forecast period. This can be attributed to increasing investment in research programs for the development of novel therapeutics
• In terms of product, biologics held the largest share of 81.8% in 2020. In recent times, biologics manufacturing is becoming more specialized, as a result of which CMOs have become an integral part of the biologics production strategies of clients
• North America held the largest share of 33.8% in 2020. The North American biopharmaceutical research industry is recognized as a leader in biopharmaceutical innovations. Several biopharma companies from the U.S. are considering Asian countries for the development of pharma products. This is primarily due to the growing costs of R&D in their home country and the presence of low-cost production facilities and cheap labor in Asian countries

List of Key Players of the Biopharmaceutical CMO & CRO Market

• Boehringer Ingelheim GmbH
• Lonza
• Inno Biologics Sdn Bhd
• Rentschler Biotechnologie GmbH
• JRS PHARMA
• BIOMEVA GmbH
• ProBioGen
• FUJIFILM Diosynth Biotechnologies U.S.A., Inc.
• TOYOBO CO., LTD.
• Samsung BioLogics

Access Press Release of Biopharmaceutical CMO And CRO Market @ https://www.grandviewresearch.com/press-release/global-biopharmaceutical-cmo-cro-market