SAN JOSE, Calif.--(BUSINESS WIRE)--The biopharmaceutical contract manufacturing market has grown at a compound annual rate of 13% over the last three years. The market for biopharmaceutical contract manufacturing services will continue to grow in 2017, and it will reach US$4.1 billion this year. HighTech Business Decisions forecasts market growth to continue, but at slightly lower rates over the next five years. In response to higher demand, many biopharmaceutical contract manufacturing organizations (“CMOs”) are adding new capacity. Total biopharmaceutical contract production capacity will increase 30% over the next two years.
In HighTech Business Decisions’ recently published industry study “Biopharmaceutical Contract Manufacturing 2017: Growing Markets, Capacities, and Innovations,” CMOs expect the industry to grow at mid-to-high single-digit rates over the next five years. The demand for production services using mammalian cell culture technology will grow at a faster pace than the overall industry growth rate.
William Downey, president of HighTech Business Decisions, explains, “We extensively interviewed 41 executives at pharmaceutical and biotechnology companies, as well as 23 respondents from contract manufacturing organizations worldwide. Over the past few years, the demand for outsource production increased at a rate greater than industry capacity. This resulted in higher overall industry capacity utilization rates. Over the next few years, CMOs are investing in capacity and technologies to meet future demand.”
Detailed analysis of the biopharmaceutical contract manufacturing market and practices is documented in HighTech Business Decisions’ latest report. This 900-page report with 250 summary data tables and charts provides in-depth analysis of the dynamic factors affecting the biopharmaceutical contract manufacturing industry, including, product demand, batch and tank size requirements, CMO selection, new equipment purchases, changes in outsource spending, capacity forecasts, contract terms, and much more.
About HighTech Business Decisions
HighTech Business Decisions is a market research and consulting firm specializing in biopharmaceutical contract manufacturing. The company has been producing in-depth public reports and customized benchmarking, market analysis and customer loyalty programs for 21 years. Visit us at www.HighTechDecisions.com