PUBLISHER: The Business Research Company | PRODUCT CODE: 1619461
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619461
Biopharmaceutical contract manufacturing organizations (CMOs) and contract research organizations (CROs) are companies that offer outsourced services to biopharmaceutical companies. CMOs are responsible for the manufacturing and production of drugs, while CROs focus on research and development activities, including clinical trials and regulatory support. Both types of organizations help biopharmaceutical companies lower costs and accelerate the drug development process.
The primary products offered by biopharmaceutical CMOs and CROs include biologics and biosimilars. Biologics are complex medicines derived from living organisms, used to treat a range of diseases such as cancer, autoimmune disorders, and infectious diseases. These organizations provide various services, including contract manufacturing and contract research, with different methods of production, encompassing both mammalian and non-mammalian sources.
The biopharmaceutical CMO and CRO market research report is one of a series of new reports from The Business Research Company that provides biopharmaceutical CMO and CRO market statistics, including the biopharmaceutical CMO and CRO industry global market size, regional shares, competitors with the biopharmaceutical CMO and CRO market share, detailed biopharmaceutical CMO and CRO market segments, market trends, and opportunities, and any further data you may need to thrive in the biopharmaceutical CMO and CRO industry. These biopharmaceutical CMO and CRO market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The biopharmaceutical CMO and CRO market size has grown strongly in recent years. It will grow from $31.29 billion in 2023 to $33.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth during the historic period can be attributed to several factors, increased investment in biopharmaceutical research and development, rising demand for innovative therapies, a growing pipeline of biologics, significant expansion in the biopharmaceutical sector, and advancements in outsourcing strategies employed by pharmaceutical companies.
The biopharmaceutical CMO and CRO market size is expected to see strong growth in the next few years. It will grow to $43.11 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated growth during the forecast period can be attributed to several key factors, the growing trend of outsourcing drug development and manufacturing, a heightened focus on cost-effective production methods, expansion into new therapeutic areas and drug pipelines, increased demand for personalized medicine, and higher investments in biotechnology startups. Major trends expected to shape this period include a rise in the adoption of automated and high-throughput technologies, increased use of advanced analytics and AI in drug development, growing demand for cell and gene therapies, greater integration of digital technologies in clinical trials, and an uptick in the outsourcing of complex biopharmaceutical processes.
The biopharmaceutical CMO (Contract Manufacturing Organization) and CRO (Contract Research Organization) market is expected to grow due to increasing investments in research and development. These investments are driven by factors such as the need for innovation, competitive pressures, evolving market demands, and government incentives. Enhanced R&D funding allows CMOs and CROs to develop improved manufacturing techniques and research processes, boosting their capabilities and efficiency. This focus on innovation attracts and retains clients by offering advanced solutions while ensuring regulatory compliance. For example, Eurostat reported in December 2023 that EU expenditure on R&D rose to €352 billion ($384.42 billion) in 2022, a 6.34% increase from €331 billion ($361.48 billion) in the previous year. This growing R&D investment is fueling the expansion of the biopharmaceutical CMO and CRO market.
Leading companies in the biopharmaceutical CMO and CRO market are forming strategic partnerships to improve services, boost efficiencies, and speed up drug development for biopharmaceutical firms. Strategic partnerships involve companies combining their strengths and resources to achieve shared goals and mutual success. For example, in June 2024, Abzena plc, a UK-based biopharmaceutical company, entered into a partnership with Argonaut Manufacturing Services Inc., a US-based contract manufacturing organization (CMO), to offer integrated drug development and manufacturing solutions. This collaboration aims to deliver faster, end-to-end drug development and manufacturing processes, enhancing efficiency, lowering costs, and streamlining biopharmaceutical production for their clients.
In June 2024, Great Point Partners, a US-based investment firm, acquired Lyocontract GmbH for an undisclosed amount. This acquisition enables Great Point Partners to enhance Lyocontract's contract manufacturing capabilities, including aseptic liquid filling, freeze-drying, and injectable medicine packaging. Lyocontract GmbH, based in Germany, is a CDMO specializing in drug product contract development and manufacturing.
Major companies operating in the biopharmaceutical cmo and cro market are Thermo Fisher Scientific Inc., Boehringer Ingelheim International GmbH, Eurofins Scientific SE, Lonza Group AG, Syneos Health Inc., Catalent Inc., Charles River Laboratories International Inc., Parexel International (MA) Corporation, Samsung Biologics Co. Ltd., CELLTRION INC., Medpace Holdings Inc., Fujifilm Diosynth Biotechnologies UK Limited, Almac Group, Pharmaron Beijing Co. Ltd., Worldwide Clinical Trials, KBI Biopharma, Inotiv Inc., Caidya, Rentschler Biopharma SE, Celerion Inc., TFS HEALTHCARE LIMITED
North America was the largest region in the biopharmaceutical CMO and CRO market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biopharmaceutical cmo and cro market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the biopharmaceutical cmo and cro market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The biopharmaceutical CMO and CRO market includes revenues earned by entities by providing services such as formulation development, quality control and assurance, clinical trial management, data management, and analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Biopharmaceutical CMO And CRO Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on biopharmaceutical CMO and CRO market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for biopharmaceutical CMO and CRO ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The biopharmaceutical CMO and CRO market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.