Dublin, April 11, 2023 (GLOBE NEWSWIRE) -- The "Biosimilar Contract Manufacturing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented by Product (Recombinant Non-glycosylated Proteins v/s Recombinant Glycosylated Proteins), By Technology, By Application, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
Global Biosimilar Contract Manufacturing Market is anticipated to witness impressive growth during the forecast period.
This can be ascribed to the growing prevalence of various chronic diseases. Additionally, the increasing availability of cancer biosimilars with lowered prices and affordable treatment, along with the growing adoption of cost-effective healthcare systems across the globe, has increased the demand for biosimilar contract manufacturing.
Additionally, the growing geriatric population across the globe, susceptible to different kinds of chronic diseases, is further expected to increase the demand for biosimilar contract manufacturing, thereby fuelling market growth through 2028.
Besides, growing awareness of new therapy related to oncology and other chronic diseases is further expected to support the biosimilar contract manufacturing market during the forecast period.
Furthermore, the impending patent expiry of biological products alongside the launch of new biosimilars and increasing early entry of new players, are further expected to increase the demand for biosimilar contract manufacturing, thereby supporting the market growth. A total of 17 cancer or cancer-related biosimilar products have been approved by the US Food and Drug Administration since 2015.
Growing Prevalence of Chronic Disease is Propelling the Market's Growth
The increasing incidence of diabetes and easy availability of biosimilars at lower costs over branded insulins are expected to drive the demand for insulin biosimilars' adoption, thereby fuelling the market growth in the forecast period. The increasing demand for monoclonal antibodies is one of the major factors expected to boost market growth. Furthermore, recombinant glycosylated protein biosimilars are used for the treatment of blood disorders, cancers, and infectious diseases.
The most commonly occurring autoimmune disorders that can be treated by biosimilars are polyarticular spondylitis, plaque psoriasis, Crohn's disease, and arthritis. These conditions are commonly treated with biosimilars such as adalimumab and etanercept, making them the most preferred therapy for autoimmune disorders.
The high rate of these diseases is expected to increase the demand for biosimilars, thus boosting market growth in the forecast period. In 2019, 37.3 million Americans, or 11.3% of the population, had diabetes. Nearly 1.9 million Americans have type 1 diabetes, including about 244,000 children and adolescents.
Increasing Demand for Contract Research Organizations Are Driving the Market's Growth
The demand for contract manufacturing and services has been rapidly rising in the pharmaceutical market over the last few years. Some of the important Clinical Research Organizations (CROs) are IQVIA, Syneos Health, ICON, and Parexel. Contract research and manufacturing organizations help pharmaceutical companies in risk reduction, reduction in expenditures, aid in complex drug manufacturing processes, and shorten lead times.
Additionally, the growing demand for novel drug discovery and the increasing number of clinical trials pertaining to research and development in the pharma industry are likely to enhance the CRO market share in the future. Spain accounts for the sixth largest market for subsequent entry biologics in the European Union. The regulatory approval of biosimilars is likely to improve its demand in manufacturing and hence is expected to promote the market's growth.
Report Scope:
In this report, global biosimilar contract manufacturing market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Biosimilar Contract Manufacturing Market, By Product:
- Recombinant Non-glycosylated Proteins
- Recombinant Glycosylated Proteins
Biosimilar Contract Manufacturing Market, By Technology:
- Mammalian
- Non-Mammalian
Biosimilar Contract Manufacturing Market, By Application:
- Oncology
- Blood Disorders
- Growth Hormonal Deficiency
- Chronic & Autoimmune Disorders
- Rheumatoid Arthritis
- Others
Biosimilar Contract Manufacturing Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Key Topics Covered:
1. Service Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Biosimilar Contract Manufacturing Market Outlook
6. North America Biosimilar Contract Manufacturing Market Outlook
7. Europe Biosimilar Contract Manufacturing Market Outlook
8. Asia-Pacific Biosimilar Contract Manufacturing Market Outlook
9. South America Biosimilar Contract Manufacturing Market Outlook
10. Middle East and Africa Biosimilar Contract Manufacturing Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Competitive Landscape
14. Strategic Recommendations
A selection of companies mentioned in this report includes
- Catalent, Inc.
- Boehringer Ingelheim GmbH
- Alcami Corporation, Inc.
- Almac Group
- Lonza Group AG
- Biocon Limited
- Avid Bioservice, Inc
- Rentschler Biopharma SE
- Fujifilm Kyowa Kirin Biologics Co., Ltd.
- WuXi Biologics, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/imuk15
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