Biopharmaceutical CMO & CRO Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
“Biopharmaceutical CMO & CRO Market Worth $37.8 Billion By 2025�
The global biopharmaceutical cmo & cro market size is expected to reach USD 37.8 billion by 2025, at a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The market is significantly driven by the growing interest of conventional drug developers in biological therapeutics. At present, outsourcing has become a cost-saving strategy for small to medium sized biomanufacturers, as it helps eliminate the need for establishing expensive specialized facilities or hiring and training personnel. The decline in R&D productivity and increased development costs has resulted in high pressure on biopharmaceutical manufacturers pertaining to short-term earnings and profit margins. This, in turn, has created lucrative opportunities for the Contract Manufacturing Organizations (CMOs) and Contract Research Organizations (CROs) to accelerate their business operations. Robustness of venture capital investments is one of the important supportive factors that have created growth opportunities for CMOs. Venture capital funds are considered more reliable than public equity. Increasing availability of venture funds for life sciences is expected to further bolster the growth of CMOs. However, these CMOs and CROs are facing competition from in-house departments of pharmaceutical and biotechnology companies. Several big pharma companies like Novartis announced to keep their biomanufacturing process inhouse. For Latest research study :@ https://www.grandviewresearch.com/industry-analysis/biopharmaceutical-cmo-cromarket
Mammalian cell line-based bioproduction systems held the largest market share in terms of revenue in 2018. Factors responsible for this estimated share include growth in mammalian system titers and yields. CMOs are
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