As per the research report, the size of the Middle East and Africa BiopharmaceuticalContract Manufacturing market was valued at USD 1.22 billion in 2023 and is predicted to rise at a CAGR of 8.02% and expand to USD 1.80 billion by 2028 during the forecast period 2023 to 2028.
The growing senior population, along with an increase in the frequency of chronic diseases and infectious diseases, is driving up demand for biopharmaceutical contract manufacturing to treat illness. Also, the increase in the technological advancements for developing various treatment procedures for chronic and infectious diseases is increasing the market's growth.
Additionally, market biopharmaceutical contract manufacturers are expanding their production facilities to ease large-scale drug and vaccine production.
In the biopharmaceuticals contract manufacturing market, government support has become highly significant. The biopharmaceuticals contract manufacturing market's participants are heavily relying on this factor. In the biopharmaceuticals contract manufacturing industry, cutting-edge techniques to generate high-performance medications are increasing.
The increase in the investments and funds from government and non-government organizations for manufacturing various treatment procedures and new drugs, which is due to increasing demand for the drugs, is expanding the biopharmaceutical contract manufacturing market.
CMOS also provide a diverse range of services in the sector, which opens up a load of new opportunities for new entrants into the market, as well as increased competition among players for the introduction of new effective treatments and drugs through market strategies such as joint ventures, collaborations, and acquisitions.
Biologics outsourcing has grown in popularity in recent years because of the advantages of reduced investments in drug research and the large-scale availability of manufacturing capabilities.
However, due to the rush to develop a cure for COVID-19, the worldwide pandemic has raised demand in the biopharmaceuticals contract manufacturing market.
However, a lack of knowledge about the biopharmaceutical contract manufacturing and proper rules and regulations related to intellectual property rights limit market growth.
In addition, the increase in the high costs of shipping and logistics costs due to reduction in economic regulations, globalization of trade, overcrowded ports, shortage of ships, and lack of dockworkers and trickers are affecting the biopharmaceutical contract manufacturing market. Furthermore, increasing competition between the players is also restraining the market's growth.
This research report on the Middle East & Africa Biopharmaceutical Contract Manufacturing Market has been segmented and sub-segmented into the following categories:
By Product Type:
By Therapeutic Area:
By Application:
By Country:
Geographically, the MEA is expected to witness a moderate share in the biopharmaceuticals contract market during the forecast period. Rising chronic diseases, improving healthcare infrastructure, and supportive government policies drive the market's growth. In addition, emerging countries such as South Africa, Saudi Arabia, and UAE are significantly contributing to the MEA regional market growth.
The UAE biopharmaceutical contract manufacturing market holds a significant market share during the forecast period. The increase in advancements in technology for developing advanced and effective treatment for treating, growing healthcare spending, and the rising number of drug developers have demonstrated the preference to outsource various parts of their biologics manufacturing operations are propelling the market growth.
On the other hand, the South African biopharmaceutical contract manufacturing market has witnessed many cardiovascular disease patients. In addition, it has experienced a rise in the prevalence rates of chronic disease. For instance, it is estimated that chronic disease would rise 73 percent by 2022, which has triggered the growth of the nuclear medicine market.
The Saudi Arabia biopharmaceutical contract manufacturing market is also expecting promising growth in the coming years. The market growth is fueled by increasing research and development activities, improving healthcare sectors, and new drugs, which is also driving the growth of the biopharmaceutical contract manufacturing market.
KEY MARKET PLAYERS
The leading companies leading in the MEA Biopharmaceutical contract manufacturing market profiled in the report are Lonza Group AG, Baxter Biopharma Solutions, Samsung Biologics Co., Ltd., Fujifilm Diosynth Biotechnologies, Boehringer Ingelheim GmbH, Patheon N.V., Rentschler Biotechnologie GmbH, Biomeva GmbH, Probiogen AG, Cytovance Biologics, Inc., KBI Biopharma, Inc., WuXi Biologics, Abzena Plc, Vetter Pharma International GmbH, Sandoz International GmbH, Catalent, Inc., AbbVie Contract Manufacturing (An AbbVie Company), Ajinomoto Althea Inc.,
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