Global Pharmaceutical Fill and Finish Outsourcing Markets, 2021-2028: Rising Market Consolidation & Growing Market for Biotherapeutics – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Pharmaceutical Fill and Finish Outsourcing Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Finished Products (Solids, Semi-Solids, Liquids) and Content (Organic Substances Isolated from Animal Origin, Organic Substances Isolated from Microorganisms, Others)” report has been added to ResearchAndMarkets.com’s offering.
The pharmaceutical fill and finish outsourcing market is projected to reach US$ 4,010.51 million by 2028 from US$ 2,657.04 million in 2021 and is expected to grow at a CAGR of 6.1% from 2021 to 2028.
Rising demand for biopharmaceuticals globally is expected to drive the global pharmaceutical fill and finish outsourcing market over the forecast period. Biotechnology and pharmaceutical companies primarily outsource products from contract manufacturing organizations to meet their fill-and-finish needs and reduce the risk factor associated with the same. Large-scale organizations outsource at least a portion of their fill-and-finish needs to lower supply chain risks.
The surge in demand for biologic products for parenteral administration and liquid formulation development in pre-filled syringes and auto-injectors have favorably impacted the growth of the biopharmaceutical industry globally. Rising investment in biopharmaceutical sectors is driving the growth of the concerned industry.
Private investments led by health tech and biopharma companies witnessed a typical year-over-year rise in biotech investment in the first half of 2020. The surge was led by 26 financings of US$ 100 million-plus, totaling over US$ 5 billion. The first quarter of 2021, on the other hand, climbed to US$ 23.4 billion in private investments. This trend continued into the second quarter of 2021, with total investment in health tech and biopharma equaling US$ 3.9 billion.
However, an upsurge in competition in the contract manufacturing sector is expected to critically impact the market growth over the next seven years. Technological innovation is expected to propel the overall growth of the pharmaceutical fill and finish outsourcing market in future years.
The global pharmaceutical fill and finish outsourcing market is segmented into state of finished products and content. Based on state of finished products, the market is categorized into liquids, solids, and semi-solids. The liquid segment accounted for the largest share in 2021 and is expected to continue during the forecast period.
The liquid segment is expected to witness the largest share during the forecast period. Moreover, the growth of consumables is expected to increase in applications of vials in lyophilization. Rising demand for prefilled syringes in the plastic pre-filled syringe industry and consumables is expected to drive the fill-finish liquid segment during the forecast period, which will drive the demand for pharmaceutical fill and finish outsourcing.
By content, the pharmaceutical fill and finish outsourcing market is segmented into organic substances isolated from microorganisms, organic substances isolated from animals, and inorganic substances.
Based on content, the organic substances isolated from microorganisms segment will record a dominating share in the coming years. The microorganisms essentially prevent the air transfer into the anaerobic bottles. This also helps reduce the contamination of products and maintain efficiency until it reaches consumers.
Key Market Dynamics
Market Drivers
- Rising investment in Biopharmaceutical Sector
- Elevating Demand for Biologics
Market Restraints
- Up-surging Competition in Contract Manufacturing Industry
Market Opportunities
- Growing Market for Biotherapeutics
Future Trends
- Rising Market Consolidation
Company Profiles
- Abbott
- Teva Pharmaceutical Industries Ltd
- Dr. Reddy’s Laboratories
- Sun Pharmaceutical Industries Ltd
- Piramal Enterprises Ltd
- MabPlex International Ltd
- Wockhardt
- Cytovance Biologics
- Thermo Fisher Scientific Inc. (Patheon N.V.)
- Boehringer Ingelheim International GmbH
For more information about this report visit https://www.researchandmarkets.com/r/8sjnaq
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
