Biopharmaceutical Contract Manufacturing Market Is Set to Expand at a CAGR Of 10.5% To reach US$ 18.7 Billion By the Year 2029

# Biopharmaceutical Contract Manufacturing Market Is Set to Expand at a CAGR Of 10.5% To reach US$ 18.7 Billion By the Year 2029 Reduced overall time to market investment in new drugs, access to expensive technologies, and greater flexibility are some advantages offered by biopharmaceutical manufacturing companies. On the back of these factors, several large companies have outsourced their biopharmaceutical manufacturing operations. Biopharmaceutical contract manufacturing is highly preferred among biopharmaceutical companies with limited in-house production capacity. Pharmaceutical companies mainly focus on core areas of competence, and hence, do not prefer to take financial risks in the event of formulating the final dose of medicines. This is anticipated to accelerate the growth of the global biopharmaceutical contract manufacturing market during forecast period, estimated to be valued at US$ 18.7 Bn by 2029. Key Takeaways of Biopharmaceutical Contract Manufacturing Market Study • Although microbial-based platforms are abundantly used for the production of pharmaceuticals, mammalian-based cell culture is expected to gain traction during the forecast period, owing to higher efficiency and increasing demand. • In terms of product type, monoclonal antibodies currently hold a larger share of the biopharmaceutical contract manufacturing market, due to their superior efficacy as well as increasing adoption for the treatment of chronic diseases. • North America is anticipated to be the most lucrative region in the global biopharmaceutical contract manufacturing market, offering growth opportunities to market players. • The commercial application of biopharmaceutical contract manufacturing is expected to contribute a higher share as compared to clinical application by the end of 2029. List of Key Players Covered in Biopharmaceutical Contract Manufacturing market are: • Catalent Inc. • Lonza Group Ag • Patheon N.V. (Thermo Fisher Scientific Inc.) • Abzena Plc. • Sandoz International GmbH (Novartis AG) • Fujifilm Diosynth Biotechnologies (FUJIFILM Holdings) • Baxter Pharmaceutical Solutions LLC (Baxter Inc.) • AbbVie Contract Manufacturing (AbbVie Inc.) • Samsung Biologics Co. Ltd. • ProBioGen AG • Pfizer Centre Source Ltd (Pfizer Inc.) • Novasep • Biomeva GmbH • Kbi Biopharma Inc • Rentschler Biotechnologie GmbH • Ajinomoto Althea Inc. (Ajinomoto Co., Inc.) “Asia Pacific is gaining attention among manufacturers for biologics production at reduced manufacturing cost. Emerging regions offering greater profit margins are major focus points for biopharmaceutical contract manufacturing, globally.” Regional Insights The U.S. dominates the North American region with a total market share of 91.0% in 2021 and is projected to continue experiencing high growth throughout the forecast period. Germany is set to exhibit a CAGR of over 11.5% in the European biopharmaceutical contract manufacturing market during the forecast period. In this region, the next generation therapy market is believed to be driven by biological treatment options compared to the pharmaceutical option. To remain ‘ahead’ of your competitors, request a report sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2982 China holds 34.8% share in the East Asia market in 2021 and is projected to increase at a CAGR rate of 13.5% during the forecast period. The growth of the biopharmaceutical contract manufacturing market in the country is growing because, most of the pharma and biopharma companies are focusing to capitalize on the growth.