Dublin, June 15, 2023 (GLOBE NEWSWIRE) -- The "Global Vaccine Contract Manufacturing Market 2023-2028 by Function, Type, Applications, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Vaccine Contract Manufacturing Market is estimated to be USD 2.84 Bn in 2023 and is expected to reach USD 5.2 Bn by 2028, growing at a CAGR of 12.84%.
The COVID-19 pandemic has had a significant impact on the vaccine contract manufacturing market. The lockdown measures during the pandemic resulted in a shortage of vaccines for various diseases, which impeded the growth of the vaccine contract manufacturing market.
However, there was a rapid acceleration in research and development, as well as clinical trials worldwide to develop safe and effective vaccines for COVID-19, leading to increased demand and manufacturing of vaccines and ultimately driving the growth of the market.
Technological advancements and cost benefits, such as continuous manufacturing and automation, are driving factors in the vaccine contract manufacturing market. Continuous manufacturing, which involves uninterrupted production processes, allows for faster and more efficient production. Automation in vaccine manufacturing can reduce the risk of human error, increase efficiency, and lower costs. Robotics can perform repetitive tasks, such as filling and labeling, resulting in higher throughput and reduced labor costs.
Despite these drivers, the high costs associated with vaccine manufacturing pose a challenge to the market. The cost of vaccines is influenced by various factors, including research and development costs, manufacturing costs, distribution costs, and regulatory requirements.
Manufacturing vaccines requires specialized equipment and facilities, and maintaining high-quality control standards adds to the costs. However, favorable government policies and guidelines aimed at ensuring widespread vaccination coverage present an opportunity for the vaccine contract manufacturing market to grow in the forecast period.
Another challenge for the market is the trend of pharmaceutical companies opting to manufacture their products in-house to gain strategic control over the manufacturing process. This can be a complex and time-consuming process that requires significant investments in infrastructure, equipment, and personnel. However, some pharmaceutical companies may choose this approach, posing a challenge to the vaccine contract manufacturing market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 136 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2.84 Billion |
| Forecasted Market Value (USD) by 2028 | $5.2 Billion |
| Compound Annual Growth Rate | 12.8% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Rising Technological Advancements and Cost Benefits in Infrastructure and Operational Benefits
- Favorable Patient Demographics and Growing Vaccinations of New-Borns and Children
Restraints
- Rising High Costs of Vaccines
Opportunities
- Rising Global Demand to Cater to the Growing Population of Varied Age Groups
- Favorable Government Insights and Guidelines to Speed up Vaccine Manufacturing
Challenges
- Pharma Companies Manufacturing Operations in House to Gain Strategic Control
Companies Mentioned
- AbbVie Contract Manufacturing
- AGC Biologics
- Baxter BioPharma Solutions
- Biomay Ag
- BioMerieux SA
- Boehringer Ingelheim (C.H. Boehringer Sohn Ag & Co. Kg)
- Catalent Inc.
- Emergent BioSolutions Inc.
- GE Healthcare Life Sciences
- GenScript Biotech Corp.
- Goodwin Biotechnology Inc.
- IDT Biologika GmbH
- Innovent Biologics Inc.
- JSR Life Sciences LLC
- Lonza Group
- Merck & Co.
- ProBioGen Ag
- Rentschler Biopharma SE
- Richter-Helm BioLogics GmbH & Co. Kg
- Thermo Fisher Scientific Inc.
- Vetter Pharma International GmbH
Market Segmentation
The Global Vaccine Contract Manufacturing Market is segmented based on Function, Type, Applications, and Geography.
- By Vaccine Type, the market is segmented into various types of vaccines, including Attenuated vaccine, DNA Vaccines, Inactivated Vaccine, Live-attenuated Vaccines, RNA Vaccines, Subunit Vaccines, and Toxoid Vaccines. Among these, inactivated vaccines and live-attenuated vaccines are currently the most widely used types of vaccines. Inactivated vaccines, such as the flu vaccine and the polio vaccine, are popular due to their safety and effectiveness, and they can be manufactured using traditional methods.
- By Function, the market is categorized into two segments: Downstream and Upstream. Both downstream and upstream processing is crucial in vaccine manufacturing, and the market share for each segment can vary based on the client's specific requirements and the type of vaccine being developed. However, in general, upstream processing, which involves more complex and costly steps, may account for a larger portion of the market share compared to downstream processing.
- By Applications, the market is divided into two categories: Human Use and Veterinary. Human vaccines typically hold a larger market share compared to veterinary vaccines, owing to the larger global population of humans compared to animals and the higher demand for vaccines to prevent and manage infectious diseases in humans.
- By Geography, the market is categorized into regions including the Americas, Europe, Middle East & Africa, and Asia-Pacific. The Asia-Pacific region is known to have the largest market share due to its large population and significant healthcare development. Additionally, various government initiatives aimed at increasing vaccination awareness are driving the growth of the market in the region during the forecast period.
For more information about this report visit https://www.researchandmarkets.com/r/njdg0f
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