Liberal regulatory policies by governments and international agencies and the rising number of research studies will continue to boost the market growth.
Liberal regulatory policies by governments and international agencies and the rising number of research studies will continue to boost the market growth.
Fact.MR, Rockville MD: The global contract pharmaceutical fermentation services market is forecast to cross US $ 4 Bn valuation by the end of 2026. As per a study by Fact MR, evolution in the field of microbial fermentation has helped pharmaceutical manufacturers in deriving active pharmaceutical ingredients [APIs] using fermentation. This will create new demands for bulk supply of APIs for contract pharmaceutical fermentation services. Expansion of pharmaceutical industry and bulging demand for fermentation process will fuel the market growth.
According to the American Diabetes Association (ADA), in 2015 nearly 9.4% of total American population developed diabetes. According to a study by Fact MR, delegating the drug development and research especially for late stage drugs to contract pharmaceutical fermentation services is expected to improve the value chain efficiency and expand the market.
“Rising focus on commercializing drugs manufacturing to contract pharmaceutical fermentation services with the motive to reduce the cost of medicine and faster deployment of critical drugs is elevating the growth of contract pharmaceutical fermentation services market”, said a lead analyst at Fact.MR.
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Contract pharmaceutical fermentation services market: Key Findings
- Rising health expenditure and growing government funding for healthcare sector in developed countries like USA and European nations is assisting on rapid market growth.
- Booming pharmaceutical industry in North America makes it the global leader of contract pharmaceutical fermentation services market.
- Promotion of health awareness campaigns by government, increase in disposable income and rise in older population are few factors providing impetus to contract pharmaceutical fermentation services market growth in Asia Pacific region.
- Rising population along with outburst of modern healthcare system in china is expected to provide lucrative opportunities for market growth.
- Europe follows North America in terms of valuation due to favorable policies for growth of quality pharmaceutical companies.
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Contract pharmaceutical fermentation services market – Key Driving Factors
- Rising demand of faster production of pharmaceutical drugs has led to increased collaboration between pharmaceutical companies and contract pharmaceutical fermentation services accentuating the market growth.
- Quicker drug development capabilities of contract pharmaceutical fermentation service providers along with collaboration with molecule owners are forecast to increase the market growth.
- Developing demand of active pharmaceutical ingredients for manufacturing of pharmaceutical drugs will boost contract pharmaceutical fermentation service market growth.
Contract pharmaceutical fermentation services market – Key Restraints
- Acceptance of new optimization techniques is still in infancy phase, which is acting as a barrier to fermentation service market growth.
- Difficulty in controlling the affecting parameters, challenges associated with scale up and scale down fermentation are hindering the market growth.
- High capital investment required for establishing precise designing and manufacturing facilities for advanced medical products will constrict the market demand.
Contract pharmaceutical fermentation services market – COVID-19 Impact
COVID-19 pandemic damaged the world healthcare economy. The demand for development surged and overwhelmed the development programs. It positively influenced the contract pharmaceutical fermentation services market. The major pharmaceutical companies collaborated with contract pharmaceutical fermentation services for faster derivation of active pharmaceutical ingredients [APIs] required for vaccine development. With mutation in virus and rising prevalence of diseases associated with COVID-19 will propel the market demands to new heights.
Competitive Landscape
Some of the leading contract pharmaceutical fermentation service providers are Boehringer Ingelheim International GmbH, AbbVie, Inc., Pfizer, EKF Diagnostics – Stanbio, Lonza, Fujifilm Holdings Corporation, AMRI, Aumgene Biosciences, Biocon, and CordenPharma International. High saturation in the fermentation services market pushes the market players to look out of innovative methods and practices to gain competitive edge in the market. The key players are emphasizing on value-added service model which is expected to open door for newer opportunities for market growth.
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More Insights on the contract pharmaceutical fermentation service market
In its latest report, Fact.MR offers unbiased analysis of the contract pharmaceutical fermentation service market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (Cytokines & Growth Factors, Enzymes, Plasmids, Biotherapeutics, Peptides and Vaccines), Platform (bacterial, fungal), Services (Development services, commercial services) across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Source: Fact.MR