PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514977
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514977
Vaccine Contract Manufacturing Market size was valued at USD 2,900.10 Million in 2023, expanding at a CAGR of 8.00% from 2024 to 2032.
The practice of a pharmaceutical firm (the contract manufacturer) producing vaccines for another corporation, or the client is known as vaccine contract manufacturing. Through this agreement, the customer can create vaccines under their specifications and needs by utilizing the contract manufacturer's manufacturing experience, facilities, and capabilities.
Vaccine Contract Manufacturing Market- Market Dynamics
Rising demand for vaccines and the biotechnology industry are expected to propel market demand
The global demand for vaccines continues to rise due to expanding vaccination programs, increasing the prevalence of infectious diseases, and the need for new vaccines to combat emerging pathogens. This demand drives pharmaceutical companies to seek contract manufacturing partners to scale up production efficiently. Vaccine manufacturing often requires specialized facilities, technologies, and expertise. Contract manufacturers with established capabilities in vaccine production can offer efficient solutions, enabling pharmaceutical companies to focus on research, development, and distribution. Thus, advancement in research and technology is playing a vital role in market growth.
Vaccine manufacturing is highly regulated by health authorities worldwide including FDA, and EMA. Contract manufacturers with established regulatory compliance expertise can expedite the approval process and ensure adherence to quality standards, reducing time to market for new vaccines. Many pharmaceutical companies may face limitations in their internal manufacturing capacities. Contract manufacturers provide additional capacity, flexibility, and scalability to meet fluctuating demand and supply vaccines globally. Therefore, to enhance manufacturing capabilities, vaccine contract manufacturing complements the market growth with changing demands.
Vaccine Contract Manufacturing Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.00% over the forecast period (2024-2032)
Based on Vaccine Type segmentation, the attenuated segment was predicted to show maximum market share in the year 2023, owing to the high prevalence of viral illness.
Based on Product Type segmentation, the single vaccine segment was predicted to show maximum market share in the year 2023, owing to high monovalent vaccine types.
Based on Application segmentation, the human use segment was the leading Application in 2023, owing to the rising demand for vaccination among humans.
Based on End User segmentation, pharmaceutical companies' segment was the leading End User in 2023, owing to a high number of ongoing developments in pharma companies for vaccine manufacturing.
On the basis of region, North America was the leading revenue generator in 2023, owing to the presence of top market players.
The Global Vaccine Contract Manufacturing Market is segmented on the basis of Vaccine Type, Product Type, Application, End User, and Region.
The market is divided into four categories based on Vaccine Type: attenuated, inactivated, DNA-based, and toxoid-based. The attenuated vaccine segment dominates the market. High demand for viral infections is boosting the demand for attenuated vaccines.
The market is divided into two categories based on Product Type: single vaccine and combination vaccine. The single vaccine segment dominates the market. Combination vaccine is anticipated to grow at the highest rate during the forecast period.
The market is divided into two categories based on the Application: human use and veterinary. The human use segment dominates the market. The rising need for vaccination in human beings to avoid and pre-immune against viral & severe diseases is augmenting segment demand.
The market is divided into three categories based on End User: biopharmaceutical companies, research laboratories, and others. The biopharmaceutical companies segment dominates the market and is expected to maintain its high dominance during the forecast period. Increasing number of vaccines need & manufacturing at biopharma companies is fueling market growth.
Vaccine Contract Manufacturing Market- Geographical Insights
Worldwide, the Vaccine Contract Manufacturing market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The Asia-Pacific region is witnessing rapid growth in vaccine contract manufacturing, driven by lower production costs, growing biopharmaceutical industry, and increasing investments in healthcare infrastructure. Countries like India and China are becoming key players in global vaccine supply chains, offering competitive advantages in cost-effective manufacturing and large-scale production capabilities.
The market for Vaccine Contract Manufacturing is characterized by stiff competition among few key companies. Several prominent contract manufacturing organizations (CMOs) dominate the market include Lonza, Catalent, Samsung Biologics, etc. These players in the vaccine contract manufacturing market are continuously expanding their production capacities to meet increasing demand. Companies are investing in advanced biotechnological platforms and manufacturing technologies to improve vaccine production efficiency and yield.
In October 2023, Vaxcyte and Lonza Group collaborated for global commercial manufacturing of broad-spectrum Pneumococcal Conjugate Vaccines (PCVs).
In December 2023, Ajinomoto Co., Inc. bought All Forge Biologics Holdings, LLC shares. The facility was targeted to boost production abilities for manufacturing biologics.