Contract Pharmaceutical Fermentation Services Companies to Enhance Production Capacity by 20% through 2026
2021-09-29
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Government Push to Novel Drug Development to Drive Contract Pharmaceutical Fermentation Services Market at 5.9% CAGR through 2026
The contract pharmaceutical fermentation services market study by Fact.MR offers compelling insights into key growth drivers and restraints impacting growth through 2026. The survey offers contract pharmaceutical fermentation services demand outlook and studies opportunities existing in key segments, including product type and platform. It also highlights key strategies adopted by market players to increase contract pharmaceutical fermentation services sales.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per the insights by Fact.MR, the global contract pharmaceutical market is anticipated to grow at a CAGR of 5.9% between 2017 and 2026.
The growing trend of utilizing microbial fermentation in a wide array of pharmaceutical products is creating a conducive environment for the expansion of the market. Pharmaceutical manufacturers often derive medical products from fermented components including active pharmaceutical ingredients (API). This is further spurring sales prospects.
Therefore, the market for contract pharmaceutical fermentation services grow in response to the rapid expansion of the pharmaceutical industry worldwide.
Besides these, the growing prevalence of diseases such as diabetes, cancer, anaemia, rheumatoid arthritis among others is boosting demand for bulk pharmaceutical products for applications in disease management. This in turn creating demand for time-efficient production of drugs.
The market will continue gaining from rising demand for generic medicines, biologics, and cell & gene therapies. Also, the recent outbreak of COVID-19 pandemic has catalyzed the production of corona-related vaccines along with various pharmaceutical products, thereby pushing growth in the market.
In the forthcoming years, increasing spending on research and development focusing on novel drug development will make contract pharmaceutical fermentation services highly sought-after. Against this backdrop, the report identifies the rising government investments in pharmaceutical R&D to boost outsourcing as a key growth driver.
The Asia-Pacific market is estimated to register rapid growth in the forthcoming years on account of the expansion of the manufacturing sector, favorable government regulations, and the presence of a highly skilled workforce in the region.
“Increasing use of contract pharmaceutical fermentation services in the development of novel drug formulations is anticipated to drive the market. Competition in the market is expected to get fiercer in the coming years. Consequently, leading players are expected to offer value-added services to gain edge over rivals,” said a Fact.MR analyst.
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Key Takeaways from Contract Pharmaceutical Fermentation Services Market Survey
Rising demand for organic drugs in Asia Pacific will enable the region exhibit high growth through the forecast period.
Expansion of the biopharmaceutical industry in the U.S. will continue supporting growth in North America.
Increasing demand in the U.K. and Germany backed by surging impetus towards the expansion of pharmaceutical industry will support growth in Europe.
Key Drivers
Increasing demand for generic medicines and biologics is fuelling the market growth.
The outbreak of COVID-19 pandemic created demand for novel therapeutics, in turn creating opportunities for contract pharmaceutical fermentation services market growth.
Increasing investments in research and development activities are boosting sales prospects.
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Competitive Landscape
Contract pharmaceutical fermentation services manufacturers are focusing on expanding their global footprint through acquisitions, partnerships, product offerings and technological developments.
For instance, in 2019, AbbVie, a research-based global pharmaceutical company entered into a strategic collaboration with Tizona Therapeutics to develop and commercialize CD39-targeted therapeutics, such as TTX-030, an antibody for treating cancer.
In 2019, Boehringer Ingelheim announced the initiation of capacity expansion at its commercial manufacturing site for biologics in China.
Some of the leading players operating in the contract pharmaceutical fermentation services market profiled by Fact.MR are:
• Aumgene Biosciences
• EKF Diagnostics – Stanbio
• Boehringer Ingelheim International GmbH
• Biocon
• AMRI
• Pfizer
• Lonza
• CordenPharma International
• Fujifilm Holdings Corporation
More Valuable Insights on contract Pharmaceutical Fermentation Services Market
Fact.MR, in its new report, offers an unbiased analysis of the global contract pharmaceutical fermentation services market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on contract pharmaceutical fermentation services market with detailed segmentation:
By Product Type
• Biotherapeutics
• Enzymes
• Peptides
• Plasmids
• Cytokines & Growth Factors
• Vaccines
• Others
By Platform
• Bacterial
• Fungal/Yeast
By Service
• Development Services
• Commercial Services
By End-User
• Pharmaceutical Companies
• Biotechnology Companies
• Animal Health Companies
• Animal Health Companies Institutes
By Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
Key Questions Covered in the Contract Pharmaceutical Fermentation Market Report
The market survey also highlights projected sales growth for contract pharmaceutical fermentation services market between 2018 and 2026
The report offers insight into contract pharmaceutical fermentation services demand outlook for forecast period 2018-2026
Contract pharmaceutical fermentation services market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Contract pharmaceutical fermentation services market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Explore Fact.MR’s Coverage on the Healthcare Domain
Medical Device Contract Manufacturing Market - The coronavirus pandemic, on the other hand, has posed significant challenges to the growth of the medical device contract manufacturing market. As a result of strict social distancing measures, production cycles have come to a halt, resulting in a large gap in the demand-supply equation. Manufacturing units are unable to produce adequate output, resulting in severe shortages. As healthcare facilities reorient their priorities, the demand for medical equipment for elective procedures has decreased.
Sterile Active Pharmaceutical Ingredient Market - Pharmaceutical companies are rapidly transitioning from in-house to outsourced manufacturing operations. North America exhibits a balance between in-house and outsourced sterile active pharmaceutical ingredient production. Approximately half of the world's largest pharmaceutical companies prefer in-house production of patented API and outsourcing of dosage form manufacturing. Companies, on the other hand, do not rely on sole producers, but rather collaborate with a variety of CMOs to manufacture finished dosage forms.
Prefilled Syringe Contract Manufacturing Market - The prefilled syringe contract manufacturing market is expanding rapidly as patient and healthcare professional demand for prefilled syringes rises. The zero wastage of drugs during treatment, as well as the proper quantity or zero calibration error of drugs for treatment, are driving up demand for these syringes and, as a result, the contract manufacturing market. Contract manufacturing of prefilled syringes lowers overall costs for companies that outsource manufacturing.
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Source: Fact.MR
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