New York, Feb. 09, 2022 (GLOBE NEWSWIRE) — According to our new research study on “Pharmaceutical Fill and Finish Outsourcing Market Forecast to 2028 – COVID-19 Impact and Global Analysis By State of Finished Products (Solids, Semi-Solids, and Liquids) and Content (Organic Substances Isolated from Animal Origin, Organic Substances Isolated from Microorganisms, and Inorganic Substances)”, published by The Insight Partners.
Pharmaceutical Fill and Finish Outsourcing Market Analysis: Competition Landscape and Key Developments
Abbott, Teva Pharmaceutical Industries Ltd, Dr. Reddy’s Laboratories, Sun Pharmaceutical Industries Ltd, Piramal Enterprises Ltd, MabPlex International Ltd, Wockhardt, Cytovance Biologics, Thermo Fischer Scientific Inc. (Patheon N.V.), and Boehringer Ingelheim International GmbH are among the key companies operating in the pharmaceutical fill and finish outsourcing market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to tap into prevailing business opportunities.
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In January 2021, Thermo Fisher Scientific announced its viral vector manufacturing services through the acquisition of Henogen S.A., Novasep’s viral vector manufacturing business in Belgium, costing approx. US$ 875 million.
In December 2021, Prestige Biopharma announced a partnership with Dr. Reddy Laboratories for the supply and commercialization of Prestige Biopharma’s proposed “Trastuzumab” biosimilar in selected Latin American and Southeast Asian countries.
| Report Coverage | Details |
| Market Size Value in | US$ 2,657.04 million in 2021 |
| Market Size Value by | US$ 4,010.51 million by 2028 |
| Growth rate | CAGR of 6.1% from 2021 to 2028. |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 158 |
| No. Tables | 57 |
| No. of Charts & Figures | 70 |
| Historical data available | Yes |
| Segments covered | State of Finished Products, and Content |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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The pharmaceutical fill and finish outsourcing market growth is driven by the rising investment in the biopharmaceutical sector and elevating demand for biologics.
Rising demand for biologics is one of the most impacting factors responsible for the growth of the pharmaceutical fill and finish outsourcing market. Biologics are composed of top-selling drugs and represent one of the fastest-growing pharmaceutical industry segments. Top pharma companies produce biologic drugs in-house that challenge market growth. These drugs are categorized as high margins and high-value products, as large companies focus on the security of supply, ensuring reliable quality, IP protection of proprietary cell strains, and manufacturing process. Therefore, pharma companies are more comfortable and willing to outsource the secondary manufacturing and packaging stages of their biologic products. For example, Fujifilm Corp. invested around US$ 928 million into Fujifilm Diosynth Biotechnologies, a CDMO of biologics and advanced therapies. Furthermore, as per the DCAT report, CDMOs are proceeding with large-scale expansion projects in traditional biomanufacturing and cell and gene therapy manufacturing. Rising industry demand from the increased development of biologic drugs drives traditional biomanufacturing. Such factors positively impact the growth of the overall market for pharmaceutical fill and finish outsourcing.
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Pharmaceutical outsourcing is an economically beneficial option for the top pharma companies. Today, the pharmaceutical industry is under intense pressure from payers and healthcare systems, delivering value-based medicines. With drug pricing coming under immense pressure from payers and policymakers, the need to realize cost efficiency has intensified. For example, 17 largest pharmaceutical multinationals will have to reduce their annual operating costs by around US$ 36 billion if they want to maintain the lead of R&D activity and operating margins. In such cases, outsourcing offers financial advantages such as strong growth of contract manufacturing (CMOS), contract research organizations (CROs), and contract sales organizations (CSOs) that provide the pharma companies the ability to scale up the resources. Countries such as China and India are becoming popular for pharmaceutical outsourcing by offering services at a low cost. The shift toward outsourcing strategies by pharmaceutical companies helps establish a successful and stable business relationship, improves outsourcing processes and internal resources planning, and reduces business risks.
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