Biological products or biologics are therapeutic preparations that consist of natural complex biomolecules derived from living things. Active pharmaceutical ingredients (API), vaccines serum, and hematological products (whole blood and plasma derivatives), recombinant DNA products, cell cultures (micro-organisms or eukaryotic cells), gene therapy and cell therapy products, antigens, allergens, antivenoms, etc. are some examples of biological products. Due to the recent advances in supply chain management and favorable federal regulations, the biological products manufacturing industry has become a lucrative market for startups, contractual manufacturing companies, and strategic collaborations, equipped with skilled workers and affordable pricing. Increase in investments for R&D by various organizations, with an aim of manufacturing cost reduction and economical yet sustainable biological product manufacturing are serving as opportunities for many companies and collaborations in biological product manufacturing industries.
Major market players in the global biological product manufacturing market have various advantages such as cutting edge technologies, superior research and development, technologically advanced instruments, and skilled workforce to ensure proper assembly and delivery of the product. The biological product manufacturing market is driven by extensive R&D, along with increasing demand from health care providers across the world for advanced biological products, and growing focus by market players to provide quality products. However, competitive costs of therapeutic products, requirement of highly skilled labor for high value low volume biological product manufacturing, limited availability foreign capital, and stringent regulatory affairs regarding the manufacture of biological products are restraining the global biological product manufacturing market.
The global biological product manufacturing market has been segmented based on product type, end-user, application, and region. In terms of product type, the market is classified into bio-pharmaceutical products and biotechnological/biological products. The bio-pharmaceutical products segment includes vaccines, immunoglobulins, serum and other blood related product, allergens, antigens, antivenoms, and toxoids. The biotechnological/biological products segment includes micro-organism or eukaryotic cell culture, recombinant DNA technology products, gene therapy product, and cell therapy product. The biopharmaceuticals products segment accounted for the largest share of the global biological product manufacturing market. Based on end-user, the biological product manufacturing market has been segmented into hospitals, research and academic institutes, clinics and specialty trials, diagnostic labs, and others. The hospitals end-user segment accounted for the largest share of the global biological product manufacturing market, followed by research and academic institutes.
Superior technological advancements serve as a major opportunity in the biological product manufacturing market. Rising incidence of chronic diseases across the world, availability of better diagnostic facilities, advances in the drug discovery and pharmaceutical R&D sector, and rising government initiatives are some of the factors attributed to the high growth of the biological product manufacturing market. Increasing focus on discovery of heat labile or temperature sensitive products, advanced biopharmaceutical research in medicine, and invention of effective means to treat various diseases are expected to boost the growth of the biological product manufacturing market.
In terms of region, the global biological product manufacturing market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is projected to expand at a higher CAGR during the forecast period driven by factors such as low labor cost, less capital investment for manufacturing, increasing adoptions of new techniques in manufacturing of biological product, and favorable governmental policies. North America dominated the global biological product manufacturing market in 2015 due to factors such as new and technologically advanced products introduced in the market, significant investments in research and development of advanced products, and increasing patient demand for better health care facilities.
Key players in the biological product manufacturing market are Lonza, Advanced Life Sciences Holdings, Inc., Pfizer, Inc., Johnson & Johnson, Invitrogen, Amgen, Abbott Laboratories, Piramal Healthcare, and Shenhua Group Corp. Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.