DUBLIN, Jan. 28, 2023 /PRNewswire/ -- The "Biologics CDMO Secondary Packaging Market Size and Share Analysis by Type, Primary Package Type - Global Industry Revenue Estimation and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The biologics CDMO secondary packaging market has captured $1,711.7 million revenue in 2021, and it is projected to rise at a rate of 8.7% in the coming years, to generate $3,622.6 million revenue in 2030, according to P&S Intelligence. It is due to the rising pharmaceutical production and increasing incidence of infectious diseases, genetic disorders, and chronic diseases.
Expansion of Businesses Propels Industry
The surging expenditure by several companies to expand their businesses in various geographies propels the industry. For instance, Catalent Inc. invested $350 million in April 2022 to expand drug manufacturing in Bloomington, Indiana.
Over the years, biological product production has risen, which has driven the demand for materials for secondary packing. In the U.S., the pharmaceutical industry offers a wide array of new drugs to enhance patient outcomes.
Rising Biopharmaceutical Application Boosts Industry Growth
Moreover, the surging pace of improvements in biopharmaceutical manufacturing, for the creation of biologics that can enhance medical care, are driving the market. Small and medium-sized companies are focusing on collaborations with CDMOs to improve the success of their products and survive in an industry that is dynamic and continuously transforming.
Currently, there are more than 7,800 products in the development stage for various therapeutic areas, such as cardiovascular, cancer, neurology, and diabetes, on account of the major investments in research and development.
For instance, WuXi Biologics began a collaboration with BravoBio Co. Ltd. in January 2022 to boost the production of vaccines for infectious diseases. BravoBio utilizes the integrated platforms of WuXi Vaccines for conducting preclinical research, manufacturing clinical supplies in compliance with GMP, and ensuring the worldwide supply of vaccines.
High Success Potential of Clinical-Phase Products
Furthermore, around 70% of the clinical-phase projects have shown the potential to perform better than the current drugs for specific indications. The undertrial pipeline includes products that may offer physicians novel approaches to disease management.
Boxes Are Preferred Secondary Packaging among Biologics CDMOs
Blister Packs Hold Largest Industry Share
Under primary package type, blister packs captured the largest industry share in 2021, of 40%. This category is also projected to witness the fastest growth in the coming years. It is because the majority of the CDMOs offer secondary packaging services for this kind of primary package.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Voice of Industry Experts/KOLs
Chapter 5. Market Indicators
Chapter 6. Definition of Market Segments
6.1 By Type
6.2 By Primary Package Type
6.2.2 Blister Packs
6.2.5 Syringes and Vials
6.2.6 Prefilled Syringes
Chapter 7. Industry Outlook
Chapter 8. Global Market Size and Forecast
Chapter 9. North America Market Size and Forecast
Chapter 10. Europe Market Size and Forecast
Chapter 11. APAC Market Size and Forecast
Chapter 12. LATAM Market Size and Forecast
Chapter 13. MEA Market Size and Forecast
Chapter 14. Biologics CDMO Secondary Packaging Equipment Market
Chapter 15. Sterile Products Packaging Equipment Market
Chapter 16. Competitive Landscape
Chapter 17. Company Profiles
Chapter 18. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/vd134y-cdmo?w=5
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