Report : Asia Pacific Biopharmaceutical Contract Manufacturing Market Forecast to 2027- Covid-19 Impact and Regional Analysis by Product (Biologics, Biosimilars); Service (Development Process, Final Dosage Operation, Analytical and Quality Control, Final Packaging), and Geography
The Biosimilars Segment byProductis expectedtogrowatA Fast Pace Duringthe Forecast Period
According to The Insight Partners market research study of ‘Asia Pacific Biopharmaceuticals Contract ManufacturingMarketForecast to 2027 - Covid-19 Impact and Regional Analysis by Product and Service,’ the Asia Pacificbiopharmaceuticals contract manufacturingmarket is expected to reach US$ 4,997.46 millionin 2027 from 2,580.70 million in 2019. The market is estimated to grow ata CAGR of 8.8% from 2020 to 2027. The report provides trends prevailing in the Asia Pacificbiopharmaceuticals contract manufacturing marketand the factors driving market along with those that act as hindrances.
Based on the product, the Asia Pacificbiopharmaceuticals contract manufacturing market is segmented into biologics and biosimilars.The biologicssegment held the largest share of the market in 2019; however, the biosimilar segment is estimated to register the highest CAGR in the market during the forecast period owing to increasing demand of biologics and research activities in niche markets and growing biologics pipeline. Moreover, reduced manufacturing and operating costs in the developing regions are attracting various multinational biopharma companies to carry out R&D projects onbiologic drugs.
The Asia Pacificbiopharmaceuticals contract manufacturing market is expected to grow, owing to the increasing outsourcing by pharmaceutical companies, growing biologics pipeline, robust advancement in R&D activities by the companies and growth in emerging markets. However, increasing competition among contract manufacturers is expected to restraint the growth of the market during the forecast years.
Lonza Group AG, Inno Biologics Ventures Sdn Bhd,WuXi Biologics,Samsung Biologics, and Ajinomoto Co., Inc. are the leading companies operating in the biopharmaceuticals contract manufacturing market.
The report segments Asia Pacific Biopharmaceuticals Contract Manufacturing market as follows:
Asia PacificBiopharmaceuticals Contract ManufacturingMarket – ByProduct
Asia PacificBiopharmaceuticals Contract ManufacturingMarket – By Service
Asia PacificBiopharmaceuticals Contract ManufacturingMarket– By Geography
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