Vaccine Contract Manufacturing Market Outlook 2031:
The global vaccine contract manufacturing market size was valued at USD 2.84 Billion in 2022 and is expected to reach USD 7.37 Billion by 2031 projected to expand at a CAGR of 11.18% during the forecast period, 2023 – 2031. The growth of the market is attributed to owing to the rising demand for vaccines for the treatment and prevention from diseases.
Vaccines manufacturing is a process of developing and preparation of potential drugs for the treatment of diseases where expertise in the field is required. Apart from ensuring the safety and effectiveness of the treatment of disease, the vaccines produced are aimed at preventing or annihilation of diseases infection. The market is largely influenced by the rise of chronic illness and infectious diseases, which are varied from one country to other.
Massive expenditures in the installation and development of equipment, facilities, and hiring skilled labor that seeks to continue localize supply of essential materials and components for vaccines are some key factors expected to influence the acceptance of contract services.
Moreover, certain countries need to update their equipment for manufacturing that requires them to indulge in partnerships with contract manufacturers to meet market demand. Increase in the number of product pipeline has fueled the demand for outsourcing services to decrease the timeline for their entry. Small scale and large scale firms are observed to be outsourcing to develop product pipeline at low cost.
Vaccine Contract Manufacturing Market Trends, Drivers, Restraints, and Opportunities
- Wide prevalence of infectious diseases and chronic illness along with the increasing number of the aging population globally is expected to boost the vaccine contract manufacturing market growth.
- Increasing awareness about vaccination and its benefits to cure and prevent from disease among a large number of people in developing countries is further anticipated to spur the global vaccine contract manufacturing market expansion.
- Favorable government policies to expand regular immunization programs for children and infants presents a key driving factor of the vaccine contract manufacturing market.
- Growing concerns for complications and financial requirement for vaccine production have pushed to focus on contract services for vaccine manufacturing. This is projected to propel the vaccine contract manufacturing market expansion.
- Requirement of huge investments in equipment, facilities, and hiring skilled labor are some of the major restraining factors that can hamper the vaccine contract manufacturing market growth.
Scope of Vaccine Contract Manufacturing Market Report
The report on the global vaccine contract manufacturing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Vaccine Contract Manufacturing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Vaccine Types (Attenuated, Inactivated, Subunit-based, Toxoid-based, and DNA-based), Workflows (Downstream [Packaging, Analytical & QC Studies, And Fill & Finish Operations], Upstream [Yeast Expression Systems, Bacterial Expression Systems, Mammalian Expression Systems, Baculovirus/Insect Expression Systems, And Others]), and Applications (Human Use and Veterinary)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Lonza Group; FUJIFILM Diosynth Biotechnologies U.S.A., Inc.; Ajinomoto Bio-Pharma Services, Inc.; Merck KGaA; Cytovance Biologics, Inc.; Catalent, Inc.; IDT Biologika GmbH; Albany Molecular Research, Inc.; PRA Health Sciences; ICON plc.; Pharmaceutical Product Development, LLC; Cobra Biologics; and Paragon Bioservices, Inc.
Vaccine Contract Manufacturing Market Segment Insights
Attenuated segment is expected to grow at a rapid pace
Based on vaccine types, the global vaccine contract manufacturing market is divided into attenuated, inactivated, subunit-based, toxoid-based, and DNA-based. The attenuated segment is expected to grow at a rapid pace in the coming years owing to wide approval of large number of the vaccine types.
However, the inactivated segment is anticipated to account for a key market share during the forecast period as they are safer and stable than other vaccine types.
Downstream segment is projected to expand at a considerable CAGR
On the basis of workflows, the global vaccine contract manufacturing market is bifurcated into downstream and upstream. The downstream segment is further divided into packaging, analytical & QC studies, and fill & finish operations. The upstream segment consists of yeast expression systems, bacterial expression systems, mammalian expression systems, baculovirus/insect expression systems, and others.
The downstream segment is projected to expand at a considerable CAGR during the forecast period owing to a high requirement for biotechnological tools and skilled personnel. Meanwhile, the upstream segment is anticipated to constitute a considerable market share during the forecast period due to advancements in bioprocessing techniques.
Human use segment is expected to exhibit a robust growth rate
Based on applications, the global vaccine contract manufacturing market is bifurcated into human use and veterinary. The human use segment is expected to exhibit a robust growth rate during the targeted period owing to wide range of illness and disease infections in humans.
On the other hand, the veterinary segment is anticipated to expand at a healthy CAGR during the forecast period due to increase in the demand for animal-based vaccines.
North America is anticipated to constitute a key market share
In terms of regions, the global vaccine contract manufacturing market share is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to constitute a key share of the market in the coming years owing to widespread manufacturing of vaccines in the region.
The market of Asia Pacific, however, is anticipated to grow significantly during the forecast period due to improving infrastructure and regulatory changes related to vaccine manufacturing and entering business contracts.
The global vaccine contract manufacturing market has been segmented on the basis of
- Analytical & QC Studies
- Fill & Finish Operations
- Yeast Expression Systems
- Bacterial Expression Systems
- Mammalian Expression Systems
- Baculovirus/Insect Expression Systems
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players competing in the vaccine contract manufacturing market are Lonza Group; FUJIFILM Diosynth Biotechnologies U.S.A., Inc.; Ajinomoto Bio-Pharma Services, Inc.; Merck KGaA; Cytovance Biologics, Inc.; Catalent, Inc.; IDT Biologika GmbH; Albany Molecular Research, Inc.; PRA Health Sciences; ICON plc.; Pharmaceutical Product Development, LLC; Cobra Biologics; and Paragon Bioservices, Inc. The main market players are continuously engaged in activities such as mergers and acquisitions, research and developments, investments for innovative products, and collaborations.