The global vaccine contract manufacturing market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 9% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Vaccine contract manufacturing refers to the outsourcing of large-scale production of vaccines to contract manufacturing organizations (CMOs). These organizations offer numerous services, including pre-formulation work, formulation development, method development, stability studies, pre-clinical activities, registration batches and commercial manufacturing. Apart from this, they provide expertise and innovative technologies to expand the production chain of pharmaceutical companies. At present, the demand for outsourcing vaccine manufacturing activities is escalating worldwide on account of reduced development costs and complex production protocols.
Vaccination plays a pivotal role in improving human as well as veterinary health. It reduces the need for antibiotics and prevents diseases. The increasing awareness about vaccination and numerous associated benefits, such as protection from severe illnesses and infectious diseases, is catalyzing the demand for immunization programs and inoculations. This, in confluence with understanding the complexity of capital requirement for production, has led the leading pharmaceutical companies to outsource vaccine manufacturing. Apart from this, the lack of equipment and skilled labor for vaccine production in low-resource countries is also contributing to the global vaccine contract manufacturing market growth. Moreover, technological advancements, including the introduction of expression systems like the EB66 and GPEx and cell culture media platforms, are supporting the market growth. Furthermore, the alarmingly growing cases of coronavirus disease (COVID-19) in numerous countries have propelled the vaccine developers to sign outsourcing agreements with CMOs. This is creating a favorable outlook for the growth of the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global vaccine contract manufacturing market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, vaccine type, workflow and application.
Breakup by Vaccine Type:
Breakup by Workflow:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
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