DUBLIN–(BUSINESS WIRE)–Oct 13, 2020–
The “Biologics Outsourcing Global Market – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The biologics outsourcing global market is expected to grow at low teen CAGR to reach $87.5 billion by 2028
Biologics are the therapeutic entities composed of sugars, proteins, or nucleic acids and made from natural sources such as human, animal or microorganisms. Biologics also include live attenuated microorganisms (vaccines), allergenic extracts (allergy shots), human cells and tissues (for transplantation), cell and gene therapeutics. Similar to the conventional therapeutics, these drugs help in treating several diseases but are highly specific and more efficient in their disease healing mechanisms. The biologic entities like monoclonal antibodies and recombinant proteins target specific areas during their molecular mechanism of disease curing.
In 2019, seven out of the 10 blockbuster drugs were biologics, outnumbering small molecule drugs. Some of the top-selling biologics in 2019 include Humira ($19.1 billion), Keytruda ($11.0 billion), Avastin ($7.28 billion) and Opdivo ($7.20 billion). The growth of biologics market indirectly indicates the huge demand for services spanning all stages of biologic development starting from the preclinical stage to commercial manufacturing.
The high complexity associated with development and manufacturing of biologics and requirement of specialized equipments and skills for biomanufacturing is prompting the biopharma companies to turn to outsourcing as a viable option. Thus the CMO’s offering quality compliant, rapid bioproduction and supply services, scalable and flexible capacities with stable capabilities at competitive costs will become an integral part of the biopharmaceutical company.
The report specifically emphasizes on the rapidly evolving and high growth potential biologics contract manufacturing services market and cell line development services market. Biologics contract biomanufacturing services global market is expected to reach $57.1 billion by 2028 growing at a low teen CAGR from 2020 to 2028. The cell line