Asia Pacific Biologics Contract Manufacturing Market: Introduction
The report provides key insights on the biologics contract manufacturing market in Asia Pacific. The biologics contract manufacturing market in Asia Pacific is projected to expand at a CAGR of 14.5% during the forecast period.
Contract manufacturing is a type of outsourcing, in which a company enters into an agreement or legal settlement with another manufacturing firm for products, parts, or components that the latter will then use in its manufacturing process to complete its product. Biologics contract manufacturing includes the production of biopharmaceutical molecules, proteins, nucleic acids, blood components, and vaccines derived from biological sources. These companies specialize in molecule production and provide various services such as development process, analytical, and quality control.
Asia Pacific Biologics Contract Manufacturing Market Dynamics
Countries in Asia have emerged as desirable outsourcing destinations for the biopharmaceutical industry. Low manufacturing and operating costs in China and India are the key drivers of the biologics contract manufacturing market in the Asia Pacific region. Low labor wages enable pharmaceutical companies in China to reduce manufacturing costs by 30% to 35%. Moreover, favorable tax incentives and an undervalued currency are anticipated to drive the market during the forecast period. The growth of the biopharmaceutical industry in China and India is expected to augment the market in the region.
Asia Pacific Biologics Contract Manufacturing Market: Key Players
Major players operating in the biologics contract manufacturing market in Asia Pacific are Lonza Group, Samsung Biologics Co., Ltd., Patheon by Thermo Fisher Scientific, Inc., Cambrex Corporation, Siegfried Holding AG, Fujifilm Holding Corporation, AbbVie, Inc., Boehringer Ingelheim, Recipharm Pharmaceuticals, Catalent, Inc., Wuxi Biologics.
Asia Pacific Biologics Contract Manufacturing Market: Segmentation
Asia Pacific Biologics Contract Manufacturing Market, by Type
- Monoclonal Antibodies
- Recombinant Proteins
- Molecular Therapy
Asia Pacific Biologics Contract Manufacturing Market, by Region
- Asia Pacific
- South Korea
- Rest of Asia Pacific
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