Fort Collins, Colorado, Jan. 22, 2024 (GLOBE NEWSWIRE) -- The Vaccine Contract Manufacturing Market size was valued at USD 3.7 Billion in 2022 and is anticipated to reach USD 10.8 Billion by 2032 at a CAGR of 11.5%
The Vaccine Contract Manufacturing market benefits from technological advancements in vaccine production, resulting in higher yields, cost reductions, and improved vaccine efficacy. This drives the industry's growth and potential to address global health challenges effectively. Pharmaceutical companies and academic researchers are also developing inactivated vaccine candidates for various medical indications.
Many pharmaceutical and biotech companies outsource vaccine development and production to contract manufacturers with the necessary facilities and expertise. This helps to streamline the production process. Diseases like Zika, Ebola, and COVID-19 pose significant threats to public health, economies, and social structures and require urgent and effective vaccines to counteract their spread and impact.
The Global Vaccine Contract Manufacturing Market is seeing growth opportunities due to advancements in personalized and therapeutic vaccines. These vaccines target specific genetic or immunological factors and are gaining popularity in areas such as oncology and immunotherapy. This trend is creating opportunities for contract manufacturing organizations.
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Segmentation Overview:
The global vaccine contract manufacturing market has been segmented into vaccine type, workflow, application, and region. Attenuated vaccines dominated the vaccine contract manufacturing market as they are made using live, weakened forms of the microorganism responsible for the disease. The human use segment produced vaccines for human administration and had a greater market share. The demand for attenuated vaccines has increased due to their proven efficacy, prolonged immune responses, and the rising prevalence of infectious diseases. The demand for vaccines has been rising because of global health concerns, increased investment in R&D, and emerging infectious diseases, which will boost the growth of the human use segment.
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Vaccine Contract Manufacturing Market Report Highlights:
- The global vaccine contract manufacturing market growth is anticipated at a CAGR of 11.5% by 2032.
- The Vaccine Contract Manufacturing market is growing due to technological advancements, outsourcing, and the urgent need for vaccines for diseases like Zika, Ebola, and COVID-19. Personalized and therapeutic vaccines are also gaining popularity in areas such as oncology and immunotherapy, creating opportunities for contract manufacturing organizations.
- North America is expected to dominate the market in the coming years due to its robust infrastructure, extensive R&D activities, and the presence of leading pharmaceutical and biotech firms. The U.S. has been a major hub for vaccine development and manufacturing, with top-tier research institutions and a strong regulatory framework provided by the FDA. Significant government funding and public-private partnerships have boosted the market's resilience.
- Some prominent players in the vaccine contract manufacturing market report include Ajinomoto Co., Inc., Cytovance Biologics, Catalent, Inc., IDT Biologika GmbH, Curia Global, Inc., Merck & Co., Inc., ICON plc, Pharmaceutical Product Development, LLC (Thermo Fisher Scientific Inc.), Charles River Laboratories (Cobra Bio), Lonza, FUJIFILM Diosynth Biotechnologies U.S.A., Recipharm AB, SK bioscience, and Emergent BioSolutions.
Industry Trends and Insights:
- Health Canada has granted Emergent Notices of Compliance for both ACAM2000® (Smallpox Vaccine (Vaccinia Virus, Live)) and TEMBEXA® (brincidofovir) tablets and oral suspension. ACAM2000® vaccine is intended for active immunization against smallpox disease for high-risk individuals, while TEMBEXA® is meant for treating human smallpox disease in adult and pediatric patients, including newborns.
- SK Bioscience has started supplying Novavax's updated COVID-19 vaccine in Korea, which targets the XBB.1.5 variant. The vaccine has received emergency use authorization from the Ministry of Food and Drug Safety, making it the first approved vaccine in Asia and the fourth globally. This effort aims to provide a wider range of vaccine choices in Korea in addition to mRNA-based vaccines.
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Vaccine Contract Manufacturing Market Segmentation:
By Vaccine Type: Attenuated Vaccine, Inactivated Vaccine, Subunit vaccines, Toxoid Vaccines, and DNA Vaccines
By Workflow: Downstream (Fill & Finish Operations, Analytical & QC studies, Packaging), and Upstream (Mammalian Expression Systems, Bacterial Expression Systems, Yeast Expression Systems, Baculovirus/Insect Expression Systems, Others)
By Application: Human Use, and Veterinary
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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