With a flourishing biologics pipeline, biopharmaceutical companies are facing a shortage of adequate manufacturing facilities. In recent times, these companies are recognizing contract services as a fitting remedy for issues pertaining to manufacturing capacity. In the coming years, services offered by contract manufacturing organizations (CMO) and contract research organizations (CRO) are expected to grow and become more strategic, better planned, and targeted.
Contract services are recognized as a strategic competitive tool among biopharmaceutical companies owing to the benefits offered. Services offered by CMOs include primary and/or secondary manufacturing of drug product. CROs offer a broad range of services, including preclinical research, clinical research, assay development, drug discovery and development, biopharmaceutical development, and pharmacovigilance.
CROs and CMOs to Improve Drug Discovery and Development through M&As
Industrial experts expect an increase in mergers and acquisitions among CROs and CMOs in future. Alliances can help these organizations expand their capacities and enable drug innovation. To put this in perspective, in September 2017, Invicro acquired Imanova in order to boost its biomedical imaging capabilities. Enhancements in its capabilities will augment drug discovery and development from pre-clinical to late phase imaging studies. Moreover, better application of quantitative imaging biomarkers is anticipated to result in better research trial endpoints.
Market Insights
With soaring cost and regulatory pressures on drug manufacturers, the global biopharmaceutical CMO and CRO market is anticipated to tread along a healthy growth track. According to Grand View Research Inc., rising awareness regarding merits of CMOs and CROs is anticipated to provide a fillip to the market, enabling it to reach a value of US$ 37.8 billion by 2025. Contract services help in overcoming trade barriers for firms. These services enable them to create footprints in foreign markets and fulfill government regulations at the same time.
On the other hand, several biopharmaceutical giants are focusing on enhancing their own manufacturing capacities. This is poised to act as a major roadblock in market growth.
Some of the prominent companies operating in the market are FUJIFILM Diosynth Biotechnologies U.S.A. Inc.; Lonza; Boehringer Ingelheim GmbH; Patheon; and Samsung BioLogics.
In-Depth research report on Biopharmaceutical CMO & CRO Market:
https://www.grandviewresearch.com/industry-analysis/biopharmaceutical-cmo-cro-market
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