Biologics Contract Manufacturing Asia 2022: Non-Singapore Company

The global demand for Contract Manufacturing Organizations (CDMO) is expected to benefit from the outbreak of the Coronavirus pandemic. The contract manufacturing company segment is anticipated to open up lucrative business growth opportunities. The global CMO market is expected to hit US$241.3 billion in 2024, with a compound annual growth rate (CAGR) of 9.80 percent from 2020 to 2024.

In Asia's biopharmaceutical contract manufacturing industry, the biologics segment had the largest market share in 2020. The contract manufacturing of biologics has seen a big uptick. This is due to difficulties in producing large-scale biologics on a small scale in-house. Sanofi, for example, has hired Boehringer Ingelheim to produce its biologics pipeline. Many organizations are turning to CMOs to expedite the development process and reduce production costs. These markets demonstrate and witness growth at a significant rate in the Asia region.