Key Driver: Increasing Demand for Biopharmaceutical Product Manufacturing

Biopharmaceutical product manufacturing is rapidly growing & becoming increasingly competitive. The success of the clinical pipeline has led to an unprecedented number of new biologic launches & an increase in the share of new approvals from the U.S Food and Drug Administration. In addition to this, there has been significant growth in the research & development of orphan drugs as well. According to the European Medicines Agency statistics, 207 initial orphan marketing authorizations have been granted & 126 active initial authorizations of orphan drugs are to be marketed as of 2022. Therefore, the clinical research, as well as commercial manufacturing of orphan & niche drugs, would witness a substantial increase in the coming years.