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 evaluated at USD 9.9 billion in 2020 and is estimated to bolster at a substantial CAGR over the forecast period 2021-2026.

As per report findings, factors such as growing technical advancements in CDMO services, booming geriatric population, increasing preference for outsourcing drug development processes, and continuous R&D activities undertaken by key players are stimulating global biologics CDMO market growth.

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Furthermore, growing per capita income and rising global healthcare expenditure along with surging demand for new therapeutic drugs are positively swaying the industry outlook.

Moreover, increasing incidence of diseases, and rising number of pharmaceutical companies in emerging countries are also likely to push the growth of the market.

Notably, the COVID-19 pandemic caused a drastic surge in the demand for vaccines and other therapeutic antibodies, which is likely to keep increasing for several years. The pandemic also prompted government bodies to fund R&D activities and vaccine development projects on a global scale, which is further boosting the worldwide biologics CDMO industry remuneration scope.

On the geographical front, the research literature spans across major regions including North America (United States, Canada), Europe (Germany, France, United Kingdom), Asia Pacific (China, Australia, Japan, India, South Korea), and LAMEA.

Considering the competitive scope, companies such as FUJIFLM Biotechnologies U.S.A. Inc., Boehringer Ingelheim International GmbH, ICON plc, Thermo Fisher Scientific Inc., AGC Inc., Toyobo Co. Ltd., WuXi Biologics, AbbVie Inc., Samsung Biologics, and Lonza Group AG are prominently influencing worldwide biologics CDMO industry trends.