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Biotechnology Contract Manufacturing Market worth $24.8 Billion

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The global biotechnology contract manufacturing market is expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2023 to 2028 to reach $24.8 billion by 2028, according to a new report from MarketsandMarkets. Key factors driving this growth include increasing outsourcing of biologics manufacturing to contract development and manufacturing organizations (CDMOs), rising demand for cell and gene therapies, and investments in production capacity expansions by contract manufacturers.

The largest segment of the biotechnology contract manufacturing market in 2022 was manufacturing services, which includes upstream and downstream manufacturing processes for biologics. As biologic manufacturing is complex, biopharma firms are outsourcing more of these operations to leverage the expertise of contract manufacturers. The manufacturing of the biologic drug substance itself accounted for the greatest market share by type in 2022 due to growing R&D into novel targeted therapies like monoclonal antibodies, cell therapies, and gene therapies. These typically require specialized equipment and techniques best handled by CDMOs.

The Asia Pacific region is forecast to exhibit the fastest growth over the period at a CAGR of XX%, aided by rising pharmaceutical R&D spend, favorable regulations, increased government healthcare investments, and a large patient pool. Meanwhile, North America and Europe are expected to continue dominating market revenue due to their advanced biopharma and biotech industries.

Key players operating in the biotechnology contract manufacturing space include Lonza Group, Thermo Fisher Scientific, Catalent Inc., Samsung BioLogics Co. Ltd., WuXi Biologics, AbbVie Inc., FUJIFILM Holdings Corporation, Boehringer Ingelheim International GmbH, and Eurofins Scientific S.E. Strategic moves being made by these companies to capitalize on growth trends include licensing deals, partnerships, and investments in additional capacity.

The growth drivers behind producing these biological drugs via outsourced manufacturing arrangements include the complexity of biologics, the growing trend toward targeted and personalized therapies, and innovations in fields like cell therapies, gene therapies, and ADCs. However, challenges remain around meeting diverse and changing global regulations efficiently. Strict vigilance around intellectual property protection between clients and contract manufacturers also persists as an area needing attention. Nevertheless, the multiple upside opportunities appear set to propel vigorous expansion for the worldwide biotechnology contract manufacturing industry over the next five years.

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