The contract manufacturing organization (CMO) offers many benefits to pharmaceutical companies, including reducing investments in facilities and drug development costs, thereby improving net cash flow. Outsourcing is cheaper and enhances the efficiency of manufacturing processes. It allows pharmaceutical & biotechnology companies to redirect resources to other areas. In the past few years, the contract manufacturing industry was a niche service market offering more manufacturing capacity or specific services to pharmaceutical companies. The rise of CMOs was fueled by the rising number of drug manufacturing failures. Pharmaceutical companies undertook many manufacturing facilities to develop innovative drugs in the past. However, the demand for manufacturing outsourcing has continuously risen to reduce the risk of overcapacities. Moreover, several pharmaceutical companies are refocusing on their core capabilities, such as research and development, leading to divestments of in-house manufacturing capacities, further growing reliance on CMOS for manufacturing. Furthermore, the CMOs are vital in providing additional benefits to mitigate the risk of supply shortages by offering various sites for pharmaceutical companies with multisite supply strategies and backup capacities. For instance, in 2019, Samsung Biologics and GI Innovation signed a contract for immunochemotherapy. Under this agreement, Samsung Biologics provided services ranging from f-cell lines development to the production of phase-I drug substances. Therefore, the rising outsourcing of development, manufacturing, fill and finish, and packaging operations to contract manufacturing companies are expected to create significant market opportunities for market players, leading to the subsequent growth of the biopharmaceutical contract manufacturing market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 7,127.97 Million |
| Market Size by 2028 | US$ 12,847.38 Million |
| CAGR (2021 - 2028) | 8.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Biopharmaceutical Contract Manufacturing Market is valued at US$ 7,127.97 Million in 2021, it is projected to reach US$ 12,847.38 Million by 2028.
As per our report North America Biopharmaceutical Contract Manufacturing Market, the market size is valued at US$ 7,127.97 Million in 2021, projecting it to reach US$ 12,847.38 Million by 2028. This translates to a CAGR of approximately 8.8% during the forecast period.
The North America Biopharmaceutical Contract Manufacturing Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Biopharmaceutical Contract Manufacturing Market report:
The North America Biopharmaceutical Contract Manufacturing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Biopharmaceutical Contract Manufacturing Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Biopharmaceutical Contract Manufacturing Market value chain can benefit from the information contained in a comprehensive market report.
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