Dublin, June 05, 2024 (GLOBE NEWSWIRE) -- The "Global Biosimilar Contract Manufacturing Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global biosimilar contract manufacturing market accounted for USD 7.48 billion in 2023 and is expected to reach at USD 48.67 billion by 2034 with a CAGR of 18.56% during the forecast period 2024-2034.
The rise in the popularity of biosimilars for treating various diseases such as cancer & autoimmune disorders, the lower cost of biosimilar compared to biologics, increasing adoption of biosimilars, expiration of patents for major biologics, escalating need for affordable yet potent medications, growing demand for cost-effective & highly efficient therapeutics, surge in biosimilar pipeline, rising regulatory approvals, and increasing novel biosimilar development efforts by industry players are some of the key factors boosting the market growth.
By products, recombinant non-glycosylated proteins was the highest revenue-grossing segment in the global biosimilar contract manufacturing market in 2023 owing to the increase in diabetes cases has led to the availability of biosimilars at lower prices compared to branded insulins. Additionally, recombinant glycosylated proteins is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for monoclonal antibodies, increase in cancer diagnoses, and growing trend of collaborations among industry stakeholders. Biosimilars of recombinant glycosylated proteins are employed in the treatment of blood disorders, cancers, and infectious diseases.
By production technology, mammalian was the highest revenue-grossing segment in the global biosimilar contract manufacturing market in 2023 owing to the utilizing mammalian cells for protein expression offers a significant advantage such as the production of mammalian proteins with accurate post-translational modifications, ensuring a native structure. Additionally, non-mammalian is predicted to grow at the fastest CAGR during the forecast period owing to the increase in partnerships between industry participants.
By application, oncology was the highest revenue-grossing segment in the global biosimilar contract manufacturing market in 2023 owing to the significant occurrence of cancer, including liver, stomach, breast, colorectal, lung, & blood cancers, rising need for cost-effective therapeutic medications that deliver high efficacy, and increasing number of approvals by regulatory agencies. Additionally, chronic & autoimmune disorders is predicted to grow at the fastest CAGR during the forecast period owing to the increasing incidence of chronic and autoimmune conditions.
North America is anticipated for the highest revenue share during the forecast period owing to the rise in the use of biosimilars, coupled with substantial biopharmaceutical contract development & manufacturing capabilities, a robust healthcare infrastructure, rise in product releases, advancements in biosimilar production technology, and the expanding range of advanced services offered by industry participants. Additionally, Asia Pacific is predicted to grow at fastest CAGR during the forecast period owing to the increase in the authorization of biosimilar medications, rising need for more affordable therapeutic options, growing prevalence of chronic & non-communicable diseases, heightened demand for cost-effective treatments and the expansion efforts of market participants.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Production Technology, and Application
- Market Forecast for 5 Regions and 17+ Countries
- Exhaustive Company Profiles of Top 10+ Market Players
Global Biosimilar Contract Manufacturing Market Segmentation, by:
- Product
- Recombinant Glycosylated Proteins
- Recombinant Non-glycosylated Proteins
- Production Technology
- Non-Mammalian
- Mammalian
- Application
- Chronic & Autoimmune Disorders
- Growth Hormonal Deficiency
- Rheumatoid Arthritis
- Blood Disorders
- Oncology
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Companies Featured:
- Boehringer Ingelheim Biopharmaceuticals GmbH
- Fujifilm Kyowa Kirin Biologics Co. Ltd.
- Element Materials Technology
- Thermo Fisher Scientific Inc.
- Rentschler Biopharma SE
- Alcami Corporation Inc.
- Avid Bioservices Inc.
- Samsung Biologics
- WuXi Biologics
- AGC Biologics
- Almac Group
- Catalent Inc.
- IQVIA Inc.
- Biocon
- Lonza
For more information about this report visit https://www.researchandmarkets.com/r/oqz2qs
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