Biologics Contract Manufacturing Industry Overview

The global biologics contract manufacturing market size was valued at USD 14.2 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 10.5% from 2022 to 2030. 

There was unparalleled growth in 2020 due to the COVID-19 pandemic. The main drivers for this growth were the rise in investments by the government and prominent players in the biopharmaceutical market to increase productivity and efficiency. Biotechnology outsourcing of biologics has become a new trend. Biotech contract manufacturing is witnessing an increase in inquiries as well as orders, mostly related to coronavirus vaccines and therapeutics. Currently, Lonza has received over 40 inquiries about projects related to COVID-19. The COVID-19 pandemic has resulted in the disruptions in the supply chain.

Gather more insights about the market drivers, restrains and growth of the Global Biologics Contract Manufacturing Market