Contract Pharmaceutical Fermentation Services Market Report through 2018-2026
This report provides prognosis and analysis of the contract pharmaceutical fermentation services market. It offers historical data along with forecast data for 2026.
[UKPRwire, Wed Mar 13 2019] FactMR has actively published a new research study titled “Contract Pharmaceutical Fermentation Services Market Report through 2018-2026” to its broad online database. This assessment works to discourse the major trends, opportunities and drivers motivating the contract pharmaceutical fermentation services market during 2018-2026. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants. As per research findings, the global “keyword” market is expected to showcase impressive growth at 5.9% CAGR during the period until 2026.
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The contract pharmaceutical services manufacturing market is fairly fragmented, with manifold contract manufacturing organizations (CMOs) showing high dependence on limited number of clients. To gain a competitive edge in this highly fragmented market, contract pharmaceutical fermentation services’ providers are creating unique strategies based on prevailing pharmaceutical industry landscape and trends.
To capitalize on the growing trend of pharmaceutical companies avoiding internal capacity investment to embrace outsourcing, contract pharmaceutical fermentation services’ providers continue to embed advancing technology in their processes. Further, several contract pharmaceutical fermentation services providers are indulging into collaborations with local integrators. To move ahead of the competition in contract pharmaceutical fermentation services market, leading players are focusing on extending and diversifying their businesses, as pharmaceutical industries turn to outsourcing to CMOs to underpin gains.
- January 2019 - A leading player in contract pharmaceutical fermentation services market, AbbVie, has collaborated with a privately held immunotherapy firm, Tizona Therapeutics, to manufacture and commercialize CD39-targeted therapeutics, such as TTX-030, an antibody for treating cancer.
- March 2018 - AbbVie, Inc. won Life Science Leader CMO award for contract manufacturing and reinforced its position in contract pharmaceutical fermentation services market.
- January 2019 - Another leading player in contract pharmaceutical fermentation services market, Boehringer Ingelheim International GmbH announced commencement of its capacity expansion at the company’s commercial manufacturing site for biologics located in China.
- December 2018 - Lonza announced plans about establishing a bio manufacturing base in China. Lonza has inked an agreement with GE Healthcare under which GE Healthcare will provide a biologics facility to a site in Guangzhou. The base is anticipated to be functional in 2020.
Detailed profiles of other leading market players operating in contract pharmaceutical fermentation services market have also been included in contract pharmaceutical fermentation services market report. Key players operating in contract pharmaceutical fermentation services market include AbbVie, Inc., Aumgene Biosciences, EKF Diagnostics-Stanbio, Boehringer Ingelheim International GmbH, Biocon, AMRI, Pfizer, Lonza, CordenPharma International, and Fujifilm Holdings Corporation.
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The overall pharmaceutical industry has been changing and developing at a rapid pace with several manufacturing firms struggling with massive challenges caused by high market growth, frequently changing regulations, novel therapy and medicine forms as well as progressing digitization. To address such challenges, pharmaceutical medicines’ manufacturers are increasingly mimicking already existing manufacturing equipment to further transfer them to contract manufacturing service providers. Being the core for production of a wide range of pharmaceutical based products, microbial fermentation has frequently evolved in recent past. As a result several pharmaceutical manufacturers are deriving medical products from fermented products encompassing active pharmaceutical ingredients (API), which is further creating demand for contract pharmaceutical fermentation services for bulk supply. The growing adoption of microbial fermentation as a production method for therapeutic proteins, fragmented antibodies, intermediates, peptides, etc., has become an optimal economic route for pharmaceutical companies to meet production demand and market delivery time. This burgeoning demand for fermentation processes in tandem with the rapidly expanding pharmaceutical industry are likely to fuel growth in contract pharmaceutical fermentation services market in forthcoming years.
Growing Demand for Time-Efficient Drug Development to Underpin Market Growth
Though the pharmaceutical industry is rapidly changing and accelerating, the basic understanding of diverse diseases at a molecular level is improving constantly. This growing understanding of different diseases is further accelerating the demand for faster production. Amid the burgeoning production demand, several pharmaceutical companies are increasingly collaborating with contract pharmaceutical fermentation services’ providers to introduce innovative molecules in the market. Further the growing prevalence of diverse diseases, such as cancer, anemia, diabetes, rheumatoid arthritis, etc., is likely to boost demand for diverse pharmaceutical products with applications in disease management.
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