Biosimilar Contract Manufacturing Market Thriving with the Rising Approval of Biosimilars, Arizton Predicts the Industry to witness More than 2X Growth in Next 6 Years

June 8th, 2023 Arizton Advisory & Intelligence Releases

The research study on the "Biosimilar Contract Manufacturing Market – Global Outlook & Forecast 2022-2027", recently published by Arizton Advisory & Intelligence, states that the biosimilar contract manufacturing market will grow at a CAGR of 16.19% during 2021-2027.

Market Overview

With the increasing demand for biosimilars, rise in approved biosimilars, and robust pipeline, the demand for outsourcing biosimilars manufacturing is also equally increasing. As a result, many pharma and biotech companies outsource biosimilar R&D and manufacturing to CMOs & CDMOs, which propel the biosimilar contract manufacturing market growth. Outsourcing biosimilar manufacturing enables pharma/biotech companies to reach the market early, free up their resources and manufacturing facilities, focus more on their core businesses and minimize the costs of their drugs. As a result, the CMOs industry has witnessed remarkable growth during the last decade and is expected to continue an even better growth trajectory in the coming years. The CMOs industry is undergoing a paradigm shift. Off-late CMOs are no longer working as just a one-off manufacturing option but have become an integral part of the supply chain of pharma/biotech companies.

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In the beginning, major pharma companies continue to be significant contributors to the growth of the biopharma contract manufacturing market; contributions from biotechnology & life sciences companies also increasing in recent years, especially when the demand for biologics, including biosimilars, is at an all-time high worldwide. With the market entry of many biotech companies, there will be greater demand for contract manufacturing services in biologics, including the biosimilars market. Outsourcing the manufacturing function will enable biotech firms to introduce their products in the market without investing in building or upgrading their manufacturing units. As the costs of biosimilars must be kept significantly low, it makes sense for drug developers to outsource manufacturing activities to keep costs low. As a result, CMOs are witnessing healthy growth in their business from the biosimilar contract manufacturing market.

Biosimilar Contract Manufacturing Market Report Scope

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Post-Purchase Benefit

Robust Pipeline of Biosimilars Boosting Contract ManufacturingThe global biopharmaceutical industry is experiencing significant expansion fueled by the emergence of biosimilars, resulting in a surge of new products, players, and production facilities. As a result, the number of approved and investigational biosimilars is on the rise, leading to a dramatic increase in competition among biosimilars and their reference products in the coming years.

Biosimilars have made inroads into new therapeutic segments, with evolving reimbursement models further driving their adoption. The biosimilars pipeline is rapidly progressing and expanding, with more products and companies engaging in manufacturing. In 2019, biosimilars witnessed sustained growth, averaging 20% annually. However, this growth rate has accelerated to an average of 27% per year over the past five and a half years.

With several commercially viable biosimilars approaching patent expiry and lacking product protection, multiple biosimilars are currently in the pipeline. The number of biosimilars in development, particularly targeting popular reference products, has experienced a significant increase of over 50% on a yearly basis in the past 18 months. This remarkable growth in the biosimilar pipeline also extends to other reference products, although they may be less popular. This trend is expected to persist in the short term as existing biosimilar companies expand their portfolios of products in development while new developers continue to enter the field.

Therefore, the rapid growth of biosimilars is reshaping the global biopharmaceutical industry, leading to heightened competition and an expanding pipeline. The increasing number of biosimilars targeting popular reference products, along with the entry of new players, underscores the dynamic nature of the market.

Europe Takes the Lead in Global Biosimilar Contract Manufacturing Market

Europe has emerged as the dominant player in the global biosimilar contract manufacturing market, capturing a substantial 39.44% share in 2021. This trend is expected to continue as Europe is projected to experience a robust compound annual growth rate (CAGR) of 15.14% during the forecast period. The region's success can be attributed to a well-defined regulatory framework for biosimilars and a mature biosimilar industry, with key companies such as Lonza, Boehringer Ingelheim GmbH, and Rentschler Biopharma SE driving the demand for contract manufacturing services.

Germany, France, the UK, Italy, and Spain are among the major countries contributing to the biosimilar contract manufacturing market growth in Europe. These nations benefit from established infrastructure and expertise in the biosimilar sector, further bolstering the region's market position.

Europe & North America holds the second-largest global biosimilar contract manufacturing market share. Factors such as the increasing prevalence of chronic conditions like inflammatory and autoimmune diseases, including cancers and blood disorders, and favorable regulatory policies and guidelines contribute to the region's consistent growth. The North American biosimilar contract manufacturing market was valued at USD 626.41 million in 2021, with strict regulatory standards ensuring that only biosimilars demonstrating highly similar physicochemical, biological, and clinical performances gain regulatory agency endorsement.

During the forecast period, the Asia-Pacific (APAC) region is poised to witness the fastest growth in the global biosimilar contract manufacturing market. The rising patient population with major inflammatory and autoimmune disorders drives the demand for biosimilars in the region. Additionally, APAC benefits from cost-effective treatment options, attracting medical travelers seeking affordable healthcare. Factors such as rapid urbanization, increased research and development expenditures, and the growing trend of biosimilar manufacturing outsourcing contribute to the region's continuous market expansion.

On the other hand, Latin America and the Middle East & Africa held minimal shares in the biosimilar contract manufacturing market in 2021. However, these regions are anticipated to experience gradual growth as biosimilar manufacturers begin outsourcing their products to contract manufacturers. Furthermore, regulatory adjustments are being made to facilitate the manufacturing and registration of biosimilars, which will significantly expand the market in these regions.

Hence, Europe leads the global biosimilar contract manufacturing market, with Europe, North America, and APAC driving the industry's growth. With a well-established regulatory framework, strong industry presence, and increasing demand for biosimilars, these regions are set to shape the future of biosimilar contract manufacturing.

Market Segmentation

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Major Companies

Lonza, Boehringer Ingelheim International GmbH, Catalent, FUJIFILM, Thermo Fischer Scientific, AbbVie, Abzena, AGC Biologic, Alcami, Almac Group, Avid Bioservices, Biocon, Element Materials Technology, Eurofins Scientific, Fresenius Kabi, Goodwin Biotechnology, Kemwell, mAbxience, Merck KGaA, Midas Pharma, Novartis AG, Pfizer, Rentschler Biopharma, Samsung Biologics and WuXi Biologics

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Arizton's Expertise in the Healthcare Industry

Arizton offers syndicate and custom market intelligence & competitive intelligence solutions across MedTech, pharmaceuticals, and life sciences & biotechnology markets within the healthcare industry. Arizton's healthcare vertical provides unbiased research and evidence-based analysis to support business decisions and comprehensive end-to-end solutions to its customers, covering all dimensions of the healthcare value chain. We track various devices (equipment, implants, and hospital supplies) and drugs (patented, generic, & OTC) across North America, Europe, APAC, Latin America, and the Middle East & Africa regions. The healthcare reports provide historic and forecast data for 20+ key countries worldwide. We track product approvals/launches, M&A activities, and collaboration/partnership activities among pharma/biotech, medical device, and life sciences companies. Our pharmaceutical portfolio tracks 15+ therapy areas with a major focus on immunology, oncology, rare & genetic diseases, dermatology, and metabolic diseases. Our medical devices and life sciences portfolio covers in-vitro diagnostics, healthcare IT, patient monitoring, cardiovascular devices, medical imaging, personal protective equipment, clinical laboratory services, and CMO/CDMO services.

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