Global Biologics Contract Development market trends 2024, Forecast To 2033
29 Feb, 2024
The biologics contract development market size has grown rapidly in recent years. It will grow from $6.94 billion in 2023 to$7.7 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to biologics market growth, rise in biopharmaceuticals, complexity of biologics, patent expirations, cost efficiency. The biologics contract development market size is expected to see rapid growth in the next few years. It will grow to $11.68 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to digitalization and data analytics, risk management, flexibility and scalability, burgeoning investment in R&D, precision medicine and personalized therapies. Major trends in the forecast period include regenerative medicine, risk mitigation strategies, global collaborations, advanced technologies, technological integration.
Global Biologics Contract Development Market Key Driver
The biologics contract development market is expected to witness growth propelled by the increasing prevalence of chronic diseases. Chronic illnesses necessitate ongoing medical attention, driving demand for novel drugs, including biologics. According to the World Health Organization's April 2021 data, chronic diseases account for approximately 71% of global deaths, with 41 million deaths annually. Thus, the surge in chronic diseases fosters the growth of the biologics contract development market, reflecting its anticipated market sizes for 2023, 2024, and 2028.
Get A Free Sample Of The Global Biologics Contract Development Market ReportGlobal Biologics Contract Development Market Segments
The global biologics contract development market covered in this report is segmented –
1) By Source: Microbial, Mammalian, Others Soruces
2) By Indication: Oncology, Immunological disorders, Cardiovascular disorders, Hematological disorders, Others Indications
3) By Product Service: Cell Line Development, Process Development, Others Product Services
By Geography: The regions covered in the biologics contract development market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the biologics contract development market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biologics contract development market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Biologics Contract Development Industry Players
WuXi Biologics, Abzena Ltd., Fujifilm Diosynth Biotechnologies, KBI Biopharma, AGC Biologics, Thermo Fisher Scientific Inc, LakePharma Inc., GenScript Biotech Corporation, Bionova Scientific Inc., Boehringer Ingelheim GmbH, STC Biologics, Siegfried Evionnaz SA, BioAgilytix Labs Inc., Samsung BioLogics, Forge Biologics, Lonza Group, Catalent Inc., AbbVie Inc., Cytovance Biologics, Emergent BioSolutions, Eurofins CDMO, Meridian Life Science Inc., Merck Group, Patheon N.V., ProBioGen AG, Rentschler Biopharma SE, Sartorius AG, Syngene International Limited, Vibalogics GmbH, Yposkesi, ZymoGenetics Inc.
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Biologics Contract Development Market Overview
Biologics contract development refers to companies that provide biologics development and manufacturing services to pharmaceutical corporations on a contract basis. The biologics contract development is used to outsource the manufacturing of biologics on contracts to focus on the marketing, R&D, and branding of products.
Biologics Contract Development Global Market Report 2023 provides data on the global biologics contract development market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The biologics contract development market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.