New York, USA, July 24, 2023 (GLOBE NEWSWIRE) -- Biosimilar Contract Manufacturing Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Biosimilar Contract Manufacturing Market Information By Product, Production Technology, Application, and Region – Forecast Till 2032, the market size was valued at USD 5.5 Billion in 2022 and is projected to grow from USD 6.5 Billion in 2023 to USD 26.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.90% during the forecast period (2023 - 2032).
Market Scope:
Although they are at the cutting edge of therapeutic progress, the high price of biologic medications means that they account for a disproportionate share of both public and private drug spending. Biosimilars, on the other hand, are an equally effective medicine that costs far less than its brand-name counterpart and hence hold greater potential as a long-term remedy. There has been a significant expansion of the use of biosimilars in a variety of therapeutic areas, and payment models are still developing. More items and companies are entering the biosimilar pipeline, which is expanding at a rapid rate.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 26.1 Billion |
| CAGR | 18.90% |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, Production Technology and Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing popularity of biosimilars in treating diseases, such as cancer, autoimmune diseases and blood disorders |
| Expansion of the biosimilar pipeline is anticipated to increase manufacturing demand |
Biosimilar Contract Manufacturing Market Competitive Outlooks:
Key Companies in the market of Biosimilar Contract Manufacturing include
- Boehringer Ingelheim GmbH
- Lonza, Catalent Inc.
- Biocon
- IQVIA Inc.
- AGC Biologics.
- Samsung Biologics.
- WuXi Biologics.
- Element Materials Technology
- Rentschler Biopharma SE
- Avid Bioservice, Inc.
- Alcami Corporation, Inc.
- Fujifilm Kyowa Kirin Biologics Co., Ltd.
- Thermo Fisher Scientific Inc.
- Almac Group
Biosimilar Contract Manufacturing Market Trends:
The primary market drivers boosting the growth of the market include the rising usage of biosimilars in the treatment of diseases including cancer, autoimmune problems, blood disorders, and others, and their cheaper cost when compared to biologics. Increased spending on research and development for biologics and biosimilars by big pharma is driving up the demand for contract manufacturing services. Pharmaceutical and biotechnology firms are predicted to boost their use of contract manufacturing services in the coming years as a result of the substantial benefit of reduced overall investment for developing and manufacturing pharmaceuticals with contract manufacturing. To keep their dominant position in the biosimilar contract manufacturing business, leading CMOs are increasing their current manufacturing capacities.
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COVID-19 Analysis:
During the epidemic, several biosimilars were approved for use in treating COVID-19. The vast majority of the drugs that received FDA approval during the COVID-19 epidemic were developed specifically to combat this virus. However, this did not affect the approval of biosimilar drugs. It is expected that the entire industry, including the manufacturing of cell and gene treatments in particular, will profit from the improvements in CMO capacity sparked by the pandemic. The COVID-19 pandemic accelerated growth in the biopharmaceutical contract manufacturing organization sector. It is anticipated that the baseline growth pattern will persist throughout the long run.
Biosimilar Contract Manufacturing Market Segmentation
By product
The recombinant non-glycosylated proteins market was the largest in the world in 2022. Recombinant non-glycosylated proteins include granulocyte colony-stimulating factors (G-CSFs), insulin, interferon, and human growth hormone.
Product Technology
The mammalian segment led the Biosimilar Contract Manufacturing Market in 2022. This is because employing mammalian cells for protein production has the considerable benefit of producing proteins with the appropriate post-translational modifications that offer a native structure.
By Application
The oncology sector was the most lucrative in the world market in 2022. The high price of cancer drugs and therapies is driving the search for low-cost therapeutic pharmaceuticals with great performance. This is increasing demand for biosimilar cancer drugs, which is driving the industry forward.
Biosimilar Contract Manufacturing Market Regional Analysis:
In 2022, 45.80% of the biosimilar contract manufacturing industry was located in Europe. Factors contributing to this include a well-defined regulatory environment for biosimilars and the presence of significant biopharmaceutical contract development and manufacturing businesses including Lonza, Boehringer Ingelheim GmbH, Rentschler Biopharma SE, and Element Materials Technology. A well-developed healthcare system and more frequent product launches have also contributed to the expansion of the regional market. Also, in Europe, the German Biosimilar Contract Manufacturing market maintained the highest share, while the British market was the fastest expanding.
In 2022, a sizable percentage of the biosimilar contract manufacturing market was generated in North America. There has been a surge in the approval of biosimilar versions of existing drugs, which is helping to speed up their adoption in the region. In addition, the North American Biosimilar Contract Manufacturing market was led by the United States, but it was Canada that showed the most growth.
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From 2023 to 2032, the market for biosimilar contract manufacturing in Asia Pacific is projected to expand at a rapid clip. The high prevalence of chronic diseases and the growing desire for less expensive medicinal goods are major factors in the region's development. The increasing importance of contract projects in countries like China, India, and South Korea is also expected to contribute considerably to the growth of the region. Cancer, diabetes, and autoimmune disorders are just some of the non-communicable diseases on the rise in the Asia-Pacific region as a result of fast urbanization, an aging population, and altered dietary and exercise patterns. This is increasing the need for low-cost treatments in the region and contributing to its development. In addition, the market for Biosimilar Contract Manufacturing was largest in China, but the market for this service in India was the fastest expanding in the Asia-Pacific.
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