Progress in the development of vaccines in emerging countries has substantially reduced the deaths from infectious diseases and is driving the demand for contract vaccine manufacturing market.
According to the latest Arizton's market research report, the contract vaccine manufacturing market size to reach around USD 4 billion by 2026, growing at a CAGR of approximately 13% during the forecast period.
Growth Analysis of the Global Contract Vaccine Manufacturing Market
The advent of various pandemics and epidemics is creating buzz for vaccines across the globe. Major factors driving the demand for contract manufacturers include continuous cost-cutting efforts, decreased time to market, growing specialty firms that lack in-house manufacturing facilities, and increase in outsourcing. Progress in the development of vaccines in emerging countries has substantially reduced the deaths from infectious diseases and is driving the demand for contract vaccine manufacturing market. WHO is constantly working with countries to enhance the global vaccination coverage. Dose-spare technologies in developing vaccines have the potential to boost the vaccine production during pandemics. Contract vaccine manufacturing market is gaining significant traction and will witness heavy demand until the impact is under control.
What’s Trending in the Market?
- Albany Molecular Research actively entering to collaborate agreements with third parties for the development and manufacture of certain products in both API and drug product segments.
- The UK government funded USD 121 million for the scale-up vaccine production at the Cell and Gene Therapy Catapult manufacturing innovation center in Braintree, Essex, and USD 112 million for the Vaccines Manufacturing and Innovation Centre (VMIC) in Oxfordshire.
- Pfizer plans to produce BNT162, the COVID-19 vaccine in millions of doses.
- The production of AstraZeneca’s COVID-19 vaccine has influenced the market share of vaccine contract manufacturing.
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by scale of operation, vaccine type, services, and geography
- Competitive Landscape – 14 Key Company Profiles and 48 Other Prominent Vendors
North America and APAC Insights in the Contract Vaccine Manufacturing Market
With the increasing demand for vaccines in North America owing to the prevalence of infectious or vaccine-preventable diseases. To mitigate the petition for vaccine across the region, vaccine developers are approaching vaccine contract manufacturers to outsource their manufacturing services. North America comprises of large numbers of contract manufacturing organizations compare to other regions. Regulations pertaining to the advancement of vaccines in the US and Canada is the major factors soaring the growth of the market across the region. The presence of many biopharmaceutical manufacturing facilities in North America is the major factor to produce more vaccines by contract manufacturers.
Greater investments due to the high focus of government bodies on R&D across European regions are driving the vaccine outsourcing industry. Australia has signed four deals of Pfizer-BioNTech, Oxford-AstraZeneca, Novavax, and Covax vaccines. Such deals are prioritizing contract manufacturing in this region. The contract vaccine manufacturing market in APAC is expected to around 1 billion by 2026. China and India are expected to offer low manufacturing and operational cost which is witnessing high growth rate in contract vaccine manufacturing market.
Strategies Adopted by the Global Contract Vaccine Manufacturing Market
The emergence of several startups and players are intensifying the competition in the global contract vaccine manufacturing market. Established players are entering various strategic alliances and co-marketing agreements to elevate the market competitiveness and penetration. Manufacturers are creating long term relationship with distributors and suppliers for scaling up production to expand their geographical presence in the contract vaccine manufacturing market. The global vaccine manufacturing market is concentrated with key players such as Ajinomoto, Albany Molecular Research, Catalent, Cytovance Biologics, Emergent BioSolutions, FUJIFILM Diosynth Biotechnologies, GSK, ICON, IDT Biologika, Lonza, Merck KGaA, Pfizer CentreOne, Recipharm, and Siegfried. The surge in competition and the emergence of several companies, major players are getting more active to focus on diverse contract manufacturing services as required by end-users.
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