Global Bio CMO Market: Size & Forecasts with Impact Analysis of Covid-19 (2020-2024 Edition)
Lonza Group, Boehringer Ingelheim, Samsung Biologics and Wuxi Biologics are key companies in the global bio CMO market. The company profiling of these companies has been done in the report.
By: Daedal Research
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global bio CMO has also been forecasted for the years 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The global bio CMO market has witnessed stable growth in the past few years and is expected to grow at a healthy rate during the forecasted period (2020-2024), the market is anticipated to further propel with a poised growth rate. The growth of global bio CMO market would be supported by the growth drivers such as rising pharmaceutical industry, growth in biosimilar industry, rise in drug approvals etc. However, the growth of global bio CMO market is being obstructed by numerous challenges such as, lack of technology, security and knowledge, inappropriate methods followed by CMOs etc.
It is being seen that many CMOs are now interested to differentiate their services. For this purpose, many CMOs are actively endorsing their integrated development and manufacturing services. Hence, they are preferring to be known as CDMOs. In the wake of Covid-19, CDMOs are actively engaged in the process of developing therapeutics and vaccines for the ongoing pandemic.
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