Biological Product Manufacturing Market 2024 Growth Analysis By Manufacturers, Regions, Type And App
Biological products or biologics are therapeutic preparations that consist of natural complex biomolecules derived from living things. Active pharmaceutical ingredients (API), vaccines serum, and hematological products (whole blood and plasma derivatives), recombinant DNA products, cell cultures (micro-organisms or eukaryotic cells), gene therapy and cell therapy products, antigens, allergens, antivenoms, etc. are some examples of biological products. Due to the recent advances in supply chain management and favorable federal regulations, the biological products manufacturing industry has become a lucrative market for startups, contractual manufacturing companies, and strategic collaborations, equipped with skilled workers and affordable pricing. Increase in investments for R&D by various organizations, with an aim of manufacturing cost reduction and economical yet sustainable biological product manufacturing are serving as opportunities for many companies and collaborations in biological product manufacturing industries.
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Major market players in the global biological product manufacturing market have various advantages such as cutting edge technologies, superior research and development, technologically advanced instruments, and skilled workforce to ensure proper assembly and delivery of the product. The biological product manufacturing market is driven by extensive R&D, along with increasing demand from health care providers across the world for advanced biological products, and growing focus by market players to provide quality products. However, competitive costs of therapeutic products, requirement of highly skilled labor for high value low volume biological product manufacturing, limited availability foreign capital, and stringent regulatory affairs regarding the manufacture of biological products are restraining the global biological product manufacturing market.
The global biological product manufacturing market has been segmented based on product type, end-user, application, and region. In terms of product type, the market is classified into bio-pharmaceutical products and biotechnological/biological products. The bio-pharmaceutical products segment includes vaccines, immunoglobulins, serum and other blood related product, allergens, antigens, antivenoms, and toxoids. The biotechnological/biological products segment includes micro-organism or eukaryotic cell culture, recombinant DNA technology products, gene therapy product, and cell therapy product. The biopharmaceuticals products segment accounted for the largest share of the global biological product manufacturing market. Based on end-user, the biological product manufacturing market has been segmented into hospitals, research and academic institutes, clinics and specialty trials, diagnostic labs, and others. The hospitals end-user segment accounted for the largest share of the global biological product manufacturing market, followed by research and academic institutes.
Superior technological advancements serve as a major opportunity in the biological product manufacturing market. Rising incidence of chronic diseases across the world, availability of better diagnostic facilities, advances in the drug discovery and pharmaceutical R&D sector, and rising government initiatives are some of the factors attributed to the high growth of the biological product manufacturing market. Increasing focus on discovery of heat labile or temperature sensitive products, advanced biopharmaceutical research in medicine, and invention of effective means to treat various diseases are expected to boost the growth of the biological product manufacturing market.
In terms of region, the global biological product manufacturing market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is projected to expand at a higher CAGR during the forecast period driven by factors such as low labor cost, less capital investment for manufacturing, increasing adoptions of new techniques in manufacturing of biological product, and favorable governmental policies. North America dominated the global biological product manufacturing market in 2015 due to factors such as new and technologically advanced products introduced in the market, significant investments in research and development of advanced products, and increasing patient demand for better health care facilities.
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Key players in the biological product manufacturing market are Lonza, Advanced Life Sciences Holdings, Inc., Pfizer, Inc., Johnson & Johnson, Invitrogen, Amgen, Abbott Laboratories, Piramal Healthcare, and Shenhua Group Corp. Ltd.
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