U.S. Biopharmaceuticals Contract Manufacturing Market Size, Statistics 2033 Report
Shivani Mhatre
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In the rapidly growing field of the U.S. biopharmaceuticals contract manufacturing Market size was valued at USD 5.19 billion in 2023 and is projected to reach USD 7.83 billion by 2033, growing at a CAGR of 4.2% from 2024 to 2033 according to a new report by Nova One Advisor.
With a perpetual expansion of the biopharmaceutical industry, companies are facing production issues, such as the need for more expertise and sophisticated equipment while practicing in-house manufacturing. The maturity of biotechnology and the availability of external funding has resulted in growth of several early-stage bio/pharma companies. These companies are recognized as core customers of CMOs, as these organizations lack the capabilities to develop robust manufacturing operations.
The market is witnessing lucrative growth owing to rising R&D spending for the biologic’s development coupled with the presence of large number of FDA approved drugs in the country. U.S. is hosting many biopharmaceutical pipeline in various stages of development. More than 900 biologic molecules are under clinical investigation in the country. Steady growth in the number of new biological approvals in the country is anticipated to boost revenue generation for the market.
Increasing adoption and investment in advanced manufacturing technologies by CMOs based in the U.S. is propelling the market growth. In addition, quality services offered by service providers are driving the biopharma and CMO partnerships in the country. Also, expansion of foreign CMOs and CROs into the country is expected to propel the market growth.
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?Key Takeaways:
U.S. Biopharmaceuticals Contract Manufacturing Market Recent Developments
Key U.S. Biopharmaceuticals Contract Manufacturing Company Insights
The companies in U.S. biopharmaceuticals contract manufacturing market are focused on the expansion of their manufacturing capabilities as well as establishing new services to meet the growing demand of biopharmaceutical companies. Along with small players, these entities are also engaged in a partnership with established biopharma companies. All the major biopharmaceutical firms have a wide-ranging product pipeline and are investing in developing new products.
Key U.S. Biopharmaceuticals Contract Manufacturing Companies:
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. Biopharmaceuticals Contract Manufacturing market.
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