Frequently Asked Questions:
The global biological product manufacturing market was valued at USD XX Billion in 2022.
The biological product manufacturing market is expected to grow at a CAGR of XX% between 2023 and 2030, reaching USD XX Billion in 2030.
Monoclonal antibodies are the leading segment by product type, holding over 35% share in terms of value in 2022.
The hospital segment governs the global demand for biological product manufacturing, holding a massive share of over 40% in 2022.
The therapeutic enzymes segment will post the highest CAGR in the projected period.
Asia Pacific is fueling the rapid growth of the biological product manufacturing industry, with an over one-third share in 2022.
Advanced Life Sciences Holdings Inc, Invitrogen, Shenhua Group Corp. Ltd, and Lonza are the top market players. Other major players include Pfizer Inc, Amgen, Piramal Healthcare, and Johnson & Johnson.
The major market drivers are the increasing demand for biopharmaceuticals and biological products worldwide and advancements in healthcare technologies.
The major market restraints are the complex and costly manufacturing processes, stringent regulatory requirements, and intellectual property rights and patent protection challenges.
The major market opportunities of the biological product manufacturing industry include expanding the biosimilars market, growing focus on personalized medicine and targeted therapies, and developing and manufacturing cell and gene therapies.