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Published: Dec 08, 2021
Contract Pharmaceutical Fermentation Services Market to Top US$ 4 Bn by 2026 as Demand for APIs Surges
In a recent market analysis, Fact.MR divulges compelling insights into factors influencing sales in the global contract pharmaceutical fermentation services market, offering a comprehensive analysis to the readers. The study covers recent developments in terms of segments of the market, including platform, service, product type, and end user across seven regions.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global contract pharmaceutical fermentation services market size is expected to reach US$ 4 Bn by 2026, expanding at 5.9% CAGR, opines Fact.MR. Ongoing expansion of the pharmaceutical industry is compelling manufacturers to invest in contract manufacturing to speed up the drug development process, which in turn is augmenting the growth in the market.
Increasing adoption for the development of active pharmaceutical ingredients (API), which is further creating demand for contract pharmaceutical fermentation services for bulk supply. In addition to this, growing applications in the production method for therapeutic proteins, intermediates, peptides, and fragmented antibodies are also increasing the demand in the market.
Through this process, manufacturers are developing drugs able to develop novel drug formulations cost-effectively. Burgeoning demand for novel drugs and vaccines is expected to fuel growth in the market in the forthcoming years.
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Besides this, collaborations among pharmaceutical companies and research organizations are expected to drive sales in the market. Contract pharmaceutical fermentation service providers offer time-efficient drug development and other analytical services, which is spurring demand for these services.
Further, increasing incidence of diseases such as cancer, diabetes, anaemia, and rheumatoid arthritis is spurring the demand for effective drug solutions. This is compelling manufacturers to invest in contract fermentation services to boost the production of pharmaceutical products for disease management, creating growth opportunities in the market.
“Stringent regulations regarding drug quality and formulations are expected to boost sales in the market. Further, growing popularity of online sales channels for generic drug delivery is spurring the demand for high-quality drugs, which is expected to fuel sales in the market through 2026,” says a Fact.MR analyst.
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Leading players operating in the global contract pharmaceutical fermentation services market are focusing on research and development to improve product offerings, catering to a growing consumer pool. Further, players are investing in mergers, acquisitions, collaborations, and partnerships to gain a competitive edge in the market.
For instance, in January 2019, AbbVie collaborated with Tizona Therapeutics, a privately held immunotherapy firm. Through this collaboration, the companies aim to manufacture and commercialize CD39-targeted therapeutics, such as TTX-030, an antibody for cancer.
Key Players in the Contract Pharmaceutical Fermentation Services Market Include:
More Valuable Insights on Contract Pharmaceutical Fermentation Services Market
Fact.MR provides an unbiased analysis of the contract pharmaceutical fermentation services market, presenting historical demand data (2013-2017) and forecast statistics for the period from 2018-2026. The study divulges compelling insights on the global contract pharmaceutical fermentation services market with a detailed segmentation on the basis of:
Key Questions Covered in Contract Pharmaceutical Fermentation Services Market Report
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