Biopharmaceutical CMO & CRO Market Witnessed Unprecedented Growth in 2020 Due to COVID-19 Pandemic | Grand View Research, Inc.

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According to a new report published by Grand View Research, the global biopharmaceutical CMO and CRO market size was estimated at USD 29.4 billion in 2021 and is expected to reach USD 32.43 billion in 2022.

The Global biopharmaceutical CMO and CRO market the size should reach $54.1 billion by 2030recording a 6.6% CAGR during the forecast period, according to a new report from Grand View Research, Inc. Post-pandemic, the market is driven by the growing interest of conventional drug developers in biological therapeutics. Currently, outsourcing has become a cost-cutting strategy for small and medium-sized biomanufacturing companies, as it helps eliminate the need to establish expensive specialized facilities or hire and train staff. Post-pandemic recovery has begun with positive pipeline developments across all modalities.

For example, Lonza and Moderna announced a ten-year collaboration for the commercial manufacture of the COVID-19 vaccine. These developments compensated for minor delays in clinical trials that occurred during the first half of 2020. The contract manufacturing organization segment is expected to open up lucrative growth opportunities in the foreseeable future. Declining R&D productivity and rising development costs have put a lot of pressure on biopharmaceutical manufacturers regarding short-term profits and profit margins. This, in turn, has created lucrative opportunities for CMOs and CROs to accelerate their business operations.

The strength of venture capital investments is one of the important supporting factors that has created opportunities for the growth of CMOs. Venture capital funds are considered more reliable than public stocks. An increase in the availability of venture capital funds for life sciences should support the growth of CMOs. However, these CMOs and CROs would face competition from internal departments of pharmaceutical and biotech companies. Several large pharmaceutical companies like Novartis have announced that they will maintain and expand their in-house biomanufacturing processes over the next few years.

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Highlights of the Biopharmaceutical CMO and CRO Market Report

Biomanufacturing system based on non-mammalian cell lines is expected to be the fastest growing segment during the forecast period

Innovative strategies are implemented to identify and explore the potential of various microbes

This can be attributed to increased investment in research programs for the development of new therapies

The North America market is recognized as a leader in biopharmaceutical innovations, resulting in a strong share of 33.97%

Additionally, the presence of multiple service providers and a higher concentration and number of biopharmaceutical companies in the region are supporting the growth of the market.

Key players are involved in establishing mutually beneficial alliances with other emerging CMOs to increase their production capabilities.

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Segmentation of the biopharmaceutical CMO and CRO market

Grand View Research has segmented the global Biopharmaceutical CMO and CRO market based on source, service, product, and region:

Biopharma CMO & CRO Sources Outlook (Revenue, USD Million, 2017 – 2030)

• Mammal

• Non-mammalian

Biopharmaceutical CMO & CRO Services Outlook (Revenue, USD Million, 2017 – 2030)

• Contract Manufacturing

• Process development

• Downstream

• Upstream

• Filling and finishing operations

• Analytical studies and QC

• Packaging

• Research under contract

• Oncology

• Inflammation and immunology

• Cardiology

• Neuroscience

• Others

Biopharma CMO & CRO Product Outlook (Revenue, USD Million, 2017 – 2030)

• Organic Products

• Monoclonal antibodies (mAb)

• Recombinant proteins

• Vaccines

• Antisense, RNAi and molecular therapy

• Others

• Biosimilars

Biopharma CMO & CRO Regional Outlook (Revenue, USD Million, 2017 – 2030)

North America

• United States

• Canada

• Europe

• Germany

• France

• Asia Pacific

• China

• India

• Latin America

• Brazil

• Middle East and Africa

• South Africa

List of Predictive Analytics Market Key Players

Boehringer Ingelheim GmbH.

Lonza Group SA.

Inno Biologics Sdn Bhd

Rentschler Biopharma SE.

JRS Pharma.

Biomeva GmbH

ProBioGen AG.

FUJIFILM Diosynth Biotechnologies USA, Inc.

Toyobo Co., Ltd.

Samsung Organics

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About Grand View Research

Grand View Research is a market research and consulting firm based in the United States and India. It is headquartered in San Francisco. We provide business information, syndicated research reports, and custom research reports to large as well as small and medium sized businesses. Our database contains thousands of in-depth statistics and analysis on over 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional and global business environment.

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