Report : South and Central America Biopharmaceutical Contract Manufacturing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Biologics and Biosimilar), Service (Process Development, Fill and Finish Operation, Analytical and QC Studies, and Packaging), and Source (Mammalian and Microbial-Based Biologics/Non-Mammalian)
Biologics Segment to Dominate South and Central America Biopharmaceutical Contract Manufacturing Market during 2019–2028
According to a new market research study on “South and Central America Biopharmaceutical Contract Manufacturing Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Service, and Source,” is expected to reach US$ 866.71 million by 2028 from US$ 564.89 million in 2021. The market is estimated to grow at a CAGR of 6.3% from 2021 to 2028. Rising outsourcing by pharmaceutical companies is the major factor driving the growth of the South and Central America biopharmaceutical contract manufacturing market. However, surge in competition in industry may hinder the growth of South and Central America biopharmaceutical contract manufacturing market. The report provides trends prevailing in the South and Central America biopharmaceutical contract manufacturing market along with the drivers and restraints pertaining to the market growth.
The South and Central America biopharmaceutical contract manufacturing market is segmented into product, service, source, and country. The South and Central America biopharmaceuticals contract manufacturing market, by product, is segmented into biologics and biosimilar. The biologics segment held the largest share of the market in 2020. Based on biologics the market is further segmented into monoclonal antibodies , recombinant proteins , vaccines , and others. In 2020, the monoclonal antibodies segment held the largest share South and Central America biopharmaceutical contract manufacturing market. Based on service, the South and Central America biopharmaceuticals contract manufacturing market has been segmented into process development, fill and finish operations, analytical and QC studies, and packaging. The process development segment held the largest share of the market in 2020. Based on process development the market is further segmented into downstream processing and upstream processing. In 2020, the downstream processing segment held the largest share South and Central America biopharmaceutical contract manufacturing market. Based on source, the South and Central America biopharmaceuticals contract manufacturing market has been segmented into mammalian and microbial/non-mammalian-based biologics. The mammalian segment held the largest share of the market in 2020. Similarly, based on country, the market is segmented into the Brazil, Argentina, and rest of South and Central America. Brazil contributed a substantial share in 2020.
AbbVie Inc., Ajinomoto Co. Inc, Boehringer Ingelheim International GmbH, General Electric Company, Lonza, MERCK KGAA, Samsung Biologics, THERMO FISHER SCIENTIFIC INC, and WUXI BIOLOGICS are among the leading companies in the South and Central America Biopharmaceutical Contract Manufacturing Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2022, Boehringer Ingelheim announces collaboration with MabGenesis to discover and develop novel monoclonal antibodies in canine. This collaboration aims to discover innovative therapeutic antibodies in canine using the MabGenesis’ platform technologies.
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