Biologics Contract Development Market Size, Share & Trends Analysis Report By Source (Mammalian, Microbial), By Product Service Type, By Disease Indication (Oncology, Immunological Disorders), By Region, And Segment Forecasts, 2020 - 2027
New York, Sept. 09, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biologics Contract Development Market Size, Share & Trends Analysis Report By Source, By Product Service Type, By Disease Indication, By Region And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05965057/?utm_source=GNW
Biologics Contract Development Market Growth & Trends
The global biologics contract development market size is expected to reach USD 11.2 billion by 2027., expanding at a CAGR of 8.8% over the forecast period. The market comprises of organizations that offer services such as the development of cell lines, upstream and downstream processes, analytical methods, and formulations. These organizations specialize in developing and manufacturing stable cell lines that are extensively used in a number of important applications including drug screening, gene functional studies, and biologics production. The market is segmented on the basis of biological source, product service (Upstream and Downstream), and disease indication. Factors such as increasing adoption of advanced technologies for biologic development, favorable environment for clinical trials in developing countries, and an increase in outsourcing of R&D activities are paving way for the growth of the market.
Growing M&A and collaboration activities between biopharma companies and CDOs are yet another factor assisting in market growth, allowing more financial stability and amalgamation of advanced and specialized technologies. For instance, in February 2020, LakePharma, Inc., and NJ Biopharmaceuticals LLC, a CRO, providing integrated chemistry and biology services, announced a strategic alliance to offer streamlined Antibody-Drug Conjugate (ADC) development solutions for biotechnology and pharmaceutical sectors. Many biopharma and pharma companies are increasingly looking for outsourcing their activities as it helps accelerate workflow (speed) of the company, provides unique specialized services, decreases drug manufacturing costs, and provides expertise. These factors are expected to boost the biologics contract development and manufacturing organization market growth in the coming years.
Biologics Contract Development Market Report Highlights
• Mammalian source emerged as the largest product segment in 2019, as the majority of research activities are being carried out using mammalian cell lines
• The process development segment is expected to witness the highest CAGR over the forecast period, as many companies are opting to outsource for production of recombinant proteins and Monoclonal Antibodies (MABs)
• North America dominated the market in 2019. Increase in strategic acquisitions and partnerships and rise in demand for specialized testing services are likely to have a positive impact on the market
• In Asia Pacific, the market is expected to encounter the highest CAGR over the forecast period.
Read the full report: https://www.reportlinker.com/p05965057/?utm_source=GNW
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