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Technavio unveils global biologics CDMO market 2022-2026

New York
Saturday, November 19, 2022, 17:00 Hrs  [IST]

Technavio, a leading market research and advisory company with global coverage focusing on identifying opportunities, trends and challenges to shape the market growth, has announced its latest market research report entitled ‘global biologics CDMO market 2022-2026.

The global biologics CDMO market size is set to grow by USD 8.65 billion from 2021 to 2026, according to the company. Moreover, the growth momentum of the market is expected to speed up at a CAGR of 12.20 per cent during the forecast period.

According to the company the key drivers of  the growth of the biologics CDMO market is attributed to factors such as the availability of cost-efficient resources in emerging markets. For instance, India is one of the most preferred countries for CDMOs. The country has more than 100 US FDA-approved manufacturing facilities, and the number of such facilities is growing. Pharma companies such as Lupin and Zydus Cadila have a strong presence in the country, which is increasing the share of the biologics CDMO market. India accounts for an estimated one-third of the revenue of the global biologics CDMO market.

Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors.

The mammalian segment will be a significant contributor to market growth during the forecast period. Mammalian cell culture is the process of growing animal cells in vitro in a flask or dish. There are four types of mammalian cells, namely epithelial cells, fibroblasts, lymphocytes, and macrophages. Human proteins with high therapeutic potential, such as clotting factors, tissue plasminogen activators, and erythropoietin, are produced with mammalian cell culture. Recombinant proteins from mammalian cells are used in therapeutics for various diseases, ranging from diabetes to cancer. Mammalian cell culture technology is one of the well-established technologies for the production of vaccines in bulk. Hence, the use of this technology by biopharmaceutical companies for bulk vaccine production is supporting revenue generation in this market segment.

North America will account for 41 per cent of the market's growth during the forecast period. This growth is attributed to factors such as rising patient awareness about the benefits of the use of biologics. Moreover, market growth in this region will be faster than the growth of the market in ROW. The US and Canada are the key countries for the biologics CDMO market in North America.

 

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