Global Vaccine Contract Manufacturing Market to Grow at 8.8% During 2024-2032, Impelled by Rapid Outbreak of COVID-19

August 09, 2021 | Healthcare

According to the latest report by IMARC Group, titled "Vaccine Contract Manufacturing Market Report by Vaccine Type (Attenuated, Inactivated, Subunit-based, Toxoid-based, DNA-based), Workflow (Downstream, Upstream), Application (Human Use, Veterinary), and Region 2024-2032," the global vaccine contract manufacturing market reached a value of US$ 2.8 Billion in 2023. Vaccine contract manufacturing involves outsourcing of large-scale production of vaccines to Contract Manufacturing Organizations (CMOs) to offer cost-saving benefits to their clients. These contract organizations offer a vast array of services, including stability studies, pre-clinical activities, pre-formulation work, formulation development, registration batches, method development, and commercial manufacturing. The outsourcing of these services also assists in saving time and resources related to operations and management of production and research facilities. The CMOs also offer innovative technologies that aid in expanding the production chain of pharmaceutical companies.

Global Vaccine Contract Manufacturing Market Trends:

The global market is primarily driven by the increasing incidences of infectious diseases, such as coronavirus disease (COVID-19) and hepatitis-B, across the globe. Along with this, the rising awareness regarding the pivotal role of vaccines in improving health and boosting immunity has resulted in the growing demand for vaccine contract manufacturing on the global level. This is further supported by the reduced development costs and complex production protocols of vaccines. The market is also driven by the increasing demand for vaccine development from the private and government sectors. Numerous organizations are also undertaking initiatives to spread awareness regarding the importance of vaccination, which is creating a positive outlook for the market. Apart from this, the widespread integration of advanced technologies with contract manufacturing is also providing an impetus to the market growth. For instance, the advent of expression systems, including the EB66 and GPEx and cell culture media platforms, are acting as major growth-inducing factors. Some of the other factors contributing to the market growth include lack of skilled labor in numerous countries and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 8.8% during 2024-2032.

Market Summary:

  • On the basis of the vaccine type, the market is divided into attenuated, inactivated, subunit-based, toxoid-based, and DNA-based.
  • Based on the workflow, the market is bifurcated into downstream (fill and finish operations, analytical and QC studies and packaging) and upstream (mammalian expression systems, bacterial expression systems, yeast expression systems, baculovirus/insect expression systems and others).
  • On the basis of the application, the market is classified into human use and veterinary.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Ajinomoto Co. Inc., Albany Molecular Research Inc, Catalent Inc, Cobra Biologics Limited (Charles River Laboratories International Inc.), Cytovance Biologics Inc. (Hepalink USA Inc.), Fujifilm Holdings Corporation, ICON plc, IDT Biologika GmbH, Lonza Group AG, Merck KGaA, Pharmaceutical Product Development LLC and PRA Health Sciences Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Vaccine Type, Workflow, Application, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Ajinomoto Co. Inc., Albany Molecular Research Inc, Catalent Inc, Cobra Biologics Limited (Charles River Laboratories International Inc.), Cytovance Biologics Inc. (Hepalink USA Inc.), Fujifilm Holdings Corporation, ICON plc, IDT Biologika GmbH, Lonza Group AG, Merck KGaA, Pharmaceutical Product Development LLC and PRA Health Sciences Inc.
Customization Scope 10% Free Customization
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Vaccine Contract Manufacturing Market to Grow at 8.8% During 2024-2032, Impelled by Rapid Outbreak of COVID-19
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