The global vaccine contract manufacturing market size is expected to reach USD 4.0 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a 9.3% CAGR during the forecast period. The market is anticipated to witness significant growth over the coming years thanks to rising demand for vaccine development from the private sector as well as governments in industrialized and developing countries.
Vaccine contract services offer cost-saving benefits to their clients. They also help save time in operations and management of a production and research facility. These advantages associated with Contract Manufacturing Organizations (CMOs) are expected to benefit emerging players, start-ups, and small players who lack adequate facilities and resources required for vaccine development.
Increase in pricing pressure, regulatory challenges, and patent expiration in recent times are expected to adversely impact the market. Contract services are considered “strategic competitive weapons” among vaccine manufacturers as they help overcome the aforementioned issues.
A number of international healthcare organizations are engaged in estimating and predicting the quantity of goods as well as financial need required for conducting immunization programs. Some of the factors considered for this estimation are quantity of vaccines, estimated time of delivery, product type, and vial size. Participation of international healthcare organizations in vaccination programs is expected to positively influence the growth of contract manufacturers.
Access Full Insights: https://www.grandviewresearch.com/industry-analysis/vaccine-contract-manufacturing-market
Further key findings from the report suggest:
- Contract services for development of attenuated vaccines accounted for the major share in the market based on vaccine type. This can be attributed to the fact that these vaccines offer immunity for a lifetime with only one or two doses
- DNA vaccines form the fastest-growing segment by type, with several kinds already being tested on humans
- Based on workflow, downstream processing dominated the market mainly due to the necessity of mature and reliable biotechnology tools for product recovery. Various research initiatives in the space are also contributing in advancing downstream workflows
- By application, contract services for the development of human-use vaccines held the largest share owing to their high adoption to develop vaccines against influenza and other illnesses
- Lonza; IDT Biologika GmbH; FUJIFILM Diosynth Biotechnologies U.S.A., Inc.; and Merck KGaA are some of the major players offering services for vaccine development.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:Sherry James
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Grand View Research, Inc
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
For More Information: www.grandviewresearch.com
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
For More Information: www.grandviewresearch.com
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