Pharmaceutical companies are increasing production facilities on a major scale given the increasing prevalence of diseases. As a large number of medicines today are manufactured by biological processes and techniques, it has become difficult to develop drugs in an isolated fashion.
Contract pharmaceutical fermentation services provide a space for pharma companies to develop drugs in a cost effective manner. They have infrastructure designed to provide efficient fermentation. A lot of drugs today are biologically derived from microbiota that can be genetically impregnated with the manufacturing plan for a specific drug. Fermentation accelerates this process, and hence is indispensable to pharmaceutical companies.
This is set to drive the global contract pharmaceutical fermentation services market on a high growth trajectory from 2020 to 2030, notes Transparency Market Research in its upcoming report. It also notes that gainful opportunities will arise in the landscape over this period.
Various manufacturers are testing waters with contract pharmaceutical fermentation services owing to growing demand for cheaper drugs on a global level. It is pertinent to note here that due to presence of a large number of global manufacturers, the vendor landscape of globalcontract pharmaceutical fermentation services market is fragmented. Some of the key players in this market include:
These manufacturers are looking to grow market outreach by dabbling with robust and effective marketing strategies and entering alliances – mergers with and acquisition of smaller facilities that offer contractual fermentation.
North America and Europe are current leaders in global contract pharmaceutical fermentation services market because of a popular acceptance of leasing and contractual services in these regions, coupled with a healthcare expenditure that is notable. Also, the increased use of technology makes acceptance of biopharmaceuticals easier, giving impetus to the contract pharmaceutical fermentation services market. Additionally, it is worth noting here that healthcare services in the Asia Pacific region (APAC) are predicted to have notable potential for growth, providing a impetus to biopharmaceutical industry. As people become more aware about individual therapy, the demand for organic drugs and hence contract based fermentation services are anticipated to increase in the future.