New York, April 16, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biopharmaceutical Contract Manufacturing Market to 2027 - Global Analysis and Forecasts by Product ; Service, and Geography" - https://www.reportlinker.com/p05882104/?utm_source=GNW
Driving factors of the biopharmaceuticals contract manufacturing market are increasing trend of outsourcing among pharmaceuticals companies and elevating demand for biologics. However, growing competition in biopharmaceutical contract manufacturing industry is hindering the growth of the market.
The contract manufacturing organization (CMO) offers numerous benefits, including reducing investments in facilities and drug development costs, to pharmaceutical companies, thereby improving net cash flow.Outsourcing is cheaper and increases the efficiency of manufacturing processes.
Also, it allows pharmaceutical and biotechnology companies to redirect resources to other areas.A few years ago, the CMO industry was a niche service market, offering additional manufacturing capacity or specific services to pharmaceutical companies.
Presently, many pharmaceuticals and biotechnology companies outsource various services from early-stage drug development to commercial-scale manufacturing. As the pharmaceuticals industry is shifting from large-scale production to more niche and targeted therapies (personalized medicine), the demand for flexible operational capabilities, production scales, and multiple-product operations is leading to the rise in inclination toward CMOs.
The global biopharmaceuticals contract manufacturing market is segmented into product and services.The biopharmaceuticals contract manufacturing market, by product, is segmented into biologics and biosimilars.
The biologics segment held the largest share of the market in 2019, whereas the biosimilar segment is anticipated to register the highest CAGR in the market during the forecast period.Based on services, the market is segmented into development process, final dosage operations, and final packaging.
The development process held the largest share of the market in 2019, whereas analytical and quality control segment is estimated to register the highest CAGR in the market during the forecast period.
Some of the essential primary and secondary sources included in the report are The Pharma & Biopharma Outsourcing Association (PBOA), Centers for Disease Control and Prevention, and Organization for Economic Co-operation and Development.
Read the full report: https://www.reportlinker.com/p05882104/?utm_source=GNW
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Biopharmaceutical Contract Manufacturing Market to 2027 - Global Analysis and Forecasts by Product ; Service, and Geography
The biopharmaceuticals contract manufacturing market was valued at US$ 13,727. 13 million in 2019 and is expected to grow at a CAGR of 8. 2% from 2020 to 2027 to reach US$ 25,497. 26 million by 2027.
| Source: ReportLinker