(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Feb. 13, 2024 (GLOBE NEWSWIRE) -- The "Global Biologics Outsourcing Market Report 2023" report has been added to ResearchAndMarkets's offering. Significant Growth in Biologics Outsourcing as Industry Demands Surge
As the global biologics outsourcing market continues its upward trajectory with a compound annual growth rate (CAGR) of 13.4%, a newly released report provides comprehensive insights into the industry's expansive growth. Despite global setbacks, such as the economic implications from the Russia-Ukraine war and ongoing COVID-19 challenges, the market is poised for a rise from $15.44 billion in 2022 to an impressive $29.39 billion in 2027.
Rising Cancer Incidence Propels Market Expansion
With cancer becoming increasingly prevalent worldwide, the demand for biologics outsourcing services is experiencing an unprecedented surge. Entities involved in this market are instrumental in accelerating cancer therapeutics development, offering a robust infrastructure and specialized expertise in manufacturing and bringing essential biologic therapies to clinical settings.
Innovative Developments Shaping the Future of Biologics Outsourcing
The market is witnessing a trend toward innovation and technological advancement, with leading players adopting new strategies to maintain and bolster their market presence. Collaborations and partnerships are streamlining the development process of biological drugs, offering a comprehensive suite of services spanning from discovery to commercialization.
North America Dominates the Market while Asia-Pacific Shows Promising Growth
While North America currently stands as the largest regional market for biologics outsourcing, regions such as Asia-Pacific are fast emerging as significant contributors to the market growth. This expansion highlights the global reach of the biologics outsourcing market and indicates diverse opportunities across various geographic landscapes.
Major players in the biologics outsourcing landscape include a range of pharmaceuticals, biotechnology industries, and contract development and manufacturing organizations (CDMOs). These key market players are charting the course for the market's direction with strategic movements such as mergers, acquisitions, and innovative service offerings.
Antibodies, recombinants, vaccines, and other proteins are among the main product types fueling market dynamics. Applications span oncology, cellular and gene therapies, blood product development, vaccine development, and stem cell research. Revenue streams for the market include cell line development, contract research services, and process optimization and related goods.
The comprehensive report, now available, offers an in-depth analysis that stakeholders, investors, and industry participants can leverage to understand the current landscape and future market scenarios in the biologics outsourcing sector.
Detailed Insights to Navigate the Biologics Outsourcing Landscape
The biologics outsourcing market research report provides exhaustive data, including market sizes, regional shares, and growth opportunities. By offering a detailed segmentation of the market, it equips readers with the crucial knowledge required to navigate through the intricacies of the industry.
The report analyzes the impact of external factors like the geopolitical landscape and inflation on the market. It emphasizes the increase in cancer incidences as a pivotal driver for market growth. Technological advancements that are setting new trends within the biologics outsourcing industry are meticulously covered.
As the biologics outsourcing market approaches a defining era of growth, driven by relentless innovation and a stark increase in demand, this report stands as an essential resource for anyone looking to adapt and thrive in this evolving industry.
A selection of companies mentioned in this report includes
AbbVie Inc. Thermo Fisher Scientific Inc. Boehringer Ingelheim GmbH Lonza Group Ag Catalent Inc. Sartorius Stedim Biotech S.A. Charles River Laboratories International Inc. WuXi Biologics Inc. Samsung Biologics Co. Ltd. Emergent BioSolutions Inc. CordenPharma GmbH Ajinomoto Bio-Pharma Services Syngene International Limited Rentschler Biopharma SE Albany Molecular Research Inc. KBI Biopharma Inc. Fujifilm Diosynth Biotechnologies Inc. Avid Bioservices Inc. BioVectra Inc. ProBioGen AG ABL Inc. Vibalogics GmbH JHL Biotech Inc. Goodwin Biotechnology Inc. Crown Bioscience Inc. Cytovance Biologics Inc. LakePharma Inc. AGC Biologics GmbH Biomay AG Polpharma Biologics S.A.
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