#Global Tech News
Vaccine Contract Manufacturing Market Size to Reach Revenues of around USD 4 Billion by 2026 – Arizton
The global vaccine contract manufacturing market size to reach USD 4 billion by 2026, growing at a CAGR of 13% during the period 2021-2026.
CHICAGO, ILLINOIS, UNITED STATES, May 3, 2021 /EINPresswire.com/ — In-depth analysis and data-driven insights on the impact of COVID-19 included in this global vaccine contract manufacturing market report.
The vaccine contract manufacturing market is expected to grow at a CAGR of approximately 13% during the period 2020?2026.
Key Highlights Offered in the Report:
1. The global vaccine contract manufacturing market is expected to grow with an incremental growth of around USD 2 billion and absolute growth of around 104% during the forecast period.
2. In scale of operation, the commercial segment has the highest share of around 64% due to high uptake of vaccines as well as growing vaccine pipeline and is likely to witness highest incremental growth of around USD 1.3 billion during the forecast period.
3. Subunit vaccines have a major share of around 33% among the other types of vaccines that include live-attenuated, inactivated, RNA vaccines, and others.
4. Fill and finish services in the service segment had a high share of around 67% and is expected to witness an incremental growth of around USD 1.4 billion during the forecast period.
5. North America accounted for the highest share of around 35% in the vaccine contract manufacturing market with the US accounting for a share of over 90% and Canada with a share of approximately 10%.
6. The advent of COVID-19 has increased the need for vaccines and major vaccine developers and manufacturers formed international alliances to fulfill the high demand for vaccines.
• Market Size & Forecast by Revenue | 2020?2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by scale of operation, vaccine type, services, and geography
• Competitive Landscape – 14 key vendors and 48 other vendors
Vaccine Contract Manufacturing Market – Segmentation
• The global commercial vaccine contract manufacturing market accounted for over 64% in 2020. There has been a high demand for contract manufacturing services due to the growth in infectious diseases and the onset of endemics and pandemics worldwide. North America expects to contribute maximum revenue to the commercial vaccine market due to the increased focus to prevent deaths caused by vaccine-preventable diseases.
• Sub-unit vaccines accounted for a major share of approx. 34% in 2020, and they are likely to witness the highest incremental growth of over USD 633 million during the forecast period. Growing infectious diseases leading to endemic/pandemics, majorly due to decreasing immunization coverage in many regions, have made national and international bodies implement vaccination programs strictly, allowing more people to get vaccinated.
• The fill/finish services market expects to grow at a CAGR of approx. 13% during 2020-2026. Fill/finish services are subject to extreme scrutiny by regulatory agencies and tend to be costly in the manufacturing process. Hence, vaccine manufacturers outsource these services to CMOs, which help them meet unexpected demands, source policies or better matching scales. Moreover, biopharmaceutical companies outsource fill-and-finish needs to gain access to specialized technology.
Vaccine Contract Manufacturing Market by Scale of Operation
Vaccine Contract Manufacturing Market by Vaccine Type
• Live Attenuated
Vaccine Contract Manufacturing Market by Services
• Analytical & QC Studies
• Cell/Virus Banking
Vaccine Contract Manufacturing Market – Dynamics
Vaccination is one of the most powerful and economical tools against potentially lethal infectious diseases. According to the WHO, up to 3 million human lives are saved each year due to vaccination. Though vaccines have been manufactured for several decades, vaccine development technology has seen recent significant improvements and new vaccine modalities on the rise. In addition, the COVID-19 pandemic has highlighted the need for innovative and faster manufacturing capabilities to address the demand for vaccines. With the advent of epidemics and pandemics in previous years, the manufacturing of vaccines has been the most important task for manufacturers. The race for developing a vaccine is intensifying, and various countries are speeding up their production capacity on a larger scale. Vaccine developers are approaching contract manufacturers to utilize their manufacturing facilities for large-scale production of vaccines in the midst of outbreaks such as COVID-19.
Key Drivers and Trends fueling Market Growth:
• Global Vaccination Programs for COVID-19
• Growing Agreements Between Vaccine Developers and Contract Manufacturers
• Favorable Patient Demographics & Growing Vaccinations of Newborns and Children
• Effect of Epidemics & Pandemics on Vaccine Development
Vaccine Contract Manufacturing Market – Geography
Major factors driving the growth of the North American vaccine contract manufacturing market include growing population, the prevalence of infectious diseases, increasing demand for vaccines, expanding biopharmaceutical industry, growing urbanization and industrialization, increased demand for introduction of vaccines, and rising awareness of vaccines in developing countries. The demand for vaccines has been growing in the North American region due to the prevalence of infectious or vaccine-preventable diseases. These diseases are considerable effects of international travel, global warming, bioterrorism, the presence of vectors, and the growing importation of wildlife. Infectious diseases such as Tuberculosis, Haemophilus influenzae type b (Hib), Hepatitis B, Meningococcal Meningitis, Tetanus, Diphtheria, Measles, Yellow Fever, And Whooping Cough accounted for the most common infectious diseases in North America.
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Vaccine Contract Manufacturing Market by Geography
• North America
• South Korea
• Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
• Ajinomoto Bio-Pharma
• Albany Molecular Research (AMRI)
• Cytovance Biologics
• Emergent BioSolutions
• IDT Biologika
• Merck KGaA
• Serum Institute of India
• Siegfried Holding
Other Prominent Vendors
• Cobra Biologics
• Baxter BioPharma Solutions
• Goodwin Biotechnology
• KBI Biopharma
• Bavarian Nordic
• Charles River Laboratories
• Boehringer Ingelheim
• Samsung Biologics
• Meridian Life Science
• Wacker Biotech B.V
• Jubilant HollisterStier
• Kemwell Biopharma
• Northway Biotech
• Midas Pharma
• Pharmaceutics International Inc. (Pii)
• Singota Solutions
• Thermo Fisher Scientific
• Kaneka Eurogentec
• Richter-Helm BioLogics
• Ology Bioservices
• Corden Pharma
• Cerbios Pharma
• BSP Pharmaceuticals
• JOINN Biologics
• Eurofins Scientific
• Esco Aster
• Genovior Biotech
• AGC Biologics
• Amaran Biotech
• Eden Biologics
• Cell Culture Company
• Taron Solutions
• Axcellerate Pharma
• WuXi Biologics
• Therapure Biopharma
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