Biologics CDMO Surges with Chronic Disease Rise and Innovation Demand
Increasing cases of chronic diseases and growth in ageing population has contributed in market growth. Growing demand for novel therapies and need for huge capital investment for innovative & advanced technologies in pharmaceutical companies is further expected to provide lucrative opportunities in Biologics CDMO domain.
Key Growth Drivers and Opportunities
Rising Prevalence of Cancer Diseases: Growing prevalence of cancer diseases has become a major factor in Biologics CDMO market growth. Different types of cancer are on the rise due to poor and unhealthy lifestyles. Breast cancer, lung cancer, liver and kidney cancer, and pancreatic cancer are on the rise. For instance, according to Center for Disease and Control and Prevention (CDC), In the United States in 2019, 1,752,735 new cancer cases were reported and 599,589 people died of cancer.
Emerging Pharmaceutical and Biotech Companies: Increasing need for CDMOs from emerging pharmaceutical and biotech companies has boosted the target market's growth. The rise in the number of clinical trials has become a major driver of target market expansion. According to Food and Drug Administration (FDA) there are around 50 ongoing clinical trials in cell and gene therapy by major and emerging biotech or pharmaceutical companies.
Challenges
There are several challenges faced by CDMOs, are cost pressure, fierce competition, consolidation, and constant technological innovations, which may hamper the market growth. The wrong innovative CDMO solution provider may lead to a bad customer experience and variations in the standards of customer service may lead to quality problems. Moreover, this may also lead to less control over the production process, which act as a challenges and disadvantages of CDMOs which in turn hampered the demand for Biologics CDMO
Innovation and Expansion
Samsung Wins USD 183 Mn Pfizer Vaccine Deal
In March 2023, Samsung Biologics signed a deal Pfizer to manufacture COVID-19 vaccines for Moderna. The value of the contract is USD 183 million and will run through the year 2029. This new deal worth 15% of Samsung's USD 1.2 billion revenue from 2021 year.
Given initiative shows how much Samsung Biologics is stepping up as a top player in the global CDMO scene. It also makes Pfizer's supply chain much more robust when it comes to mRNA vaccines. Plus, this long-term partnership is a clear sign that both companies are committed to being ready for future pandemics.
Lonza Invests $518M in Swiss Biologics Expansion
In July 2022, Lonza has planned to spend USD 518 million on a large-scale fill-finish manufacturing plant in Stein, Switzerland. This new facility is set to greatly enhance Lonza's capabilities in making sterile drug products.
It's specifically built to meet the growing demand for complex biologics and advanced therapies. This investment further strengthens Switzerland's reputation as a global leader in the biopharmaceutical sector.
Inventive Sparks, Expanding Markets
The key players operating the biologics CDMO market includes, Lonza Group, Catalent Inc., Samsung Biologics, Eurofins Scientific, Boehringer Ingelheim Group, FUJIFILM Diosynth Biotechnologies Inc., among others. Biologics CDMO companies are all about speeding up the process of creating new drugs, making sure that high-quality manufacturing can easily expand to meet demand for complex treatments. Their main goals are to foster innovation, improve efficiency, and help make healthcare accessible worldwide.
About Author:
Prophecy is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business.
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