According to the research report titled ‘Global Biologics CDMO Market (2022 Edition) - Analysis By Type (Mammalian, Non-Mammalian), Product Type (Biologics, Biosimilars), By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global biologics CDMO market was worth USD 9.9 billion in 2020 and is anticipated to register a healthy CAGR over 2021-2026.

As per report findings, ageing population, rising technological developments by CDMO service providers, growing trend of outsourcing drug development processes globally, and increasing number of R&D activities by major players are the major growth stimulants for global biologics CDMO market.

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Additionally, increasing per capita disposable income, soaring healthcare spending, and growing consumer demand for innovative therapeutics are also impelling industry trends.

Furthermore, focus on novel medications due to the increasing prevalence of diseases in the world, expanding number of pharmaceutical firms in emerging nations, and high demand for biologics are expected to propel market outlook in the coming years.

Moreover, growing tendency of outsourcing by both small and major pharmaceutical companies offers a promising prospect for CDMOs, which is likely to augment industry expansion during the stipulated timeframe.

Notably, the COVID-19 outbreak is projected to have a favoring effect on the worldwide biologics CDMO market over the analysis timeframe. The pandemic has prompted government authorities to broaden vaccine development on a global scale, as well as ongoing demand for vaccines and therapeutic antibodies are expected to last for several years. The imminent situation has shaken the R&D operations for many treatments and medications, putting tremendous strain on the healthcare sector and accelerating the growth of the biologics CDMO industry.

Based on type terrain, the industry is split into non-mammalian and mammalian. In terms of product, the market is bifurcated into biosimilars and biologics.

Regionally, speaking, the latest industry trends are studied across North America (U.S., Canada), Europe (UK, France, Germany), and Asia Pacific (China, Australia, India, South Korea, Japan).

Coming to competitive landscape, Fujifilm Diosynth Biotechnologies, C.H. Boehringer Sohn Co. KG, ICON plc, Thermo Fisher Scientific Inc., AGC Inc., Toyobo Co. Ltd., WuXi Biologics Cayman Inc., AbbVie Inc., Samsung Biologics, and Lonza Group AG are the leading players in global biologics CDMO market.