LONDON, Oct. 1, 2013 /PRNewswire/ -- Considerable growth opportunities lie ahead for biopharmaceutical contract manufacturing organisations (CMOs). With blockbuster biologics worth over $100 billion due to lose patent protection by 2019, the global biosimilars market is projected to grow at a robust compound annual growth rate (CAGR) of 60.4 percent between 2012 and 2019.
A new market insight from Frost & Sullivan, Biopharmaceutical Contract Manufacturing, finds advances in bioprocessing technologies, as well as innovation in biopharmaceuticals production with transgenic plants and animals, stem cells and cloning, are likely to have a direct impact on the market.
"Due to the steep cost and long time needed to build, equip and validate a biomanufacturing facility, the majority of biopharmaceutical companies prefer leveraging the expertise of CMOs," notes Frost & Sullivan Healthcare Senior Research Analyst Aiswariya Chidambaram. "CMOs have made substantial investments in infrastructure, technology, and personnel in recent years, and are capable of providing uncomplicated, timely, and cost-effective services. They are also well versed with regulatory compliances and work closely with regulatory agencies, thereby reducing time-to-market."
Disposable technology is a key biomanufacturing trend and presents attractive opportunities for minimising production costs, owing to its customizable design, enhanced productivity, and significant operational benefits. Disposable equipment and single use bioreactors are considered a viable alternative to conventional stainless steel equipment, due to their flexibility, short start-up time, quick changeover between production campaigns, and absence of Clean in Place, Steam in Place, and large volumes of Water for Injection. Single use technologies are specially designed for multi-product contract manufacturing with additional benefits, such as simple transfer of operations betw
|SOURCE Frost & Sullivan|
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