November 22, 2019
According to the latest study titled ‘Global Biopharmaceutical CMO Market - Analysis By Region, By Country: Opportunities and Forecast (2018-2023) -- By Region (North America, Europe, APAC), By Country (U.S, Denmark, Germany, Switzerland, Korea, Japan, China)’ available with Market Study Report LLC, the global biopharmaceutical CMO market is estimated to grow with a CAGR of 14.36% through the year 2023.
Biopharmaceutical companies tend to hire contract manufacturing organizations (CMOs) for drug development as well as drug manufacturing. Increase in cases of chronic diseases, along with rising medical expenditure, and booming population are key factors driving the growth of biopharmaceutical CMO market.
The study examines the market for revenue shares of each segment and offers insight about the expansion strategies adopted by manufacturers. It analyses the competitive landscape of biopharmaceutical CMO market using SWOT analysis and Porter’s Five Force analysis methods. Information about the market dynamics influencing the market growth is also given in the report. It also provides strategic recommendations that can be incorporated by competitors to expand their business footprint.
Based on type, biopharmaceutical CMO market is segmented into mammalian and microbial. While considering the geographical landscape, the global biopharmaceutical CMO market is segmented into regions including Europe, North Americas, and APAC, with key focus on countries like U.S, China, Denmark, Switzerland, Germany, Japan, and Korea.
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As per the report, Europe biopharmaceutical CMO market held the largest regional share in the 2017. However, APAC biopharmaceutical CMO market is presumed to garner a decent growth in the upcoming years, owing to increasing population as well as growth in number of pharmaceutical requirements.
Some of the vendors that operate in biopharmaceutical CMO market are Lonza, Wuxi Biologics, Samsung Biologics, and Boehringer Ingelheim. Additionally, the report also assesses the financial strategies and performance of several companies operating in the biopharmaceutical CMO market.
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