Vaccine Contract Manufacturing Market Hit Almost USD 4.0 billion Figure By 2024

 Vaccine Contract Manufacturing Market size is expected to reach USD 4.0 billion by 2025, A vaccine provides active acquired immunity to a disease. The demand for vaccine contract manufacturing is increasing in the market. Vaccine manufacturing is a complex process, in which effectivity, safety and consistency are the most important part for the manufacturers. It offers many services such as production process, cell line development, construction & operation of manufacturing product, process optimization, fermentation and analytical characterization, which fuels the market growth in the coming years. The vaccine contract manufacturing market registering a CAGR of 9.3% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Vaccine contract services offer cost-saving benefits to their clients. Also, they help to save time in operations & management of a research and production facility. The growing demand for vaccine development from the private sector as well as governments in developing and industrialized countries is expected to witness significant growth of the market in the coming years.

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In the market, various types of vaccines are available such as inactivated vaccines, attenuated vaccines, toxoid-based vaccines, subunit-based vaccines, DNA-based vaccines, recombinant vector vaccines, synthetic vaccines and others. The “attenuated vaccines” is expected to hold the large market share in the upcoming period due to their ability to elicit strong and antibody responses. These vaccines offer lifetime immunities with just one or two doses. Moreover, proper handling conditions, especially with respect to storage and maintenance will continue to drive the segment in the coming years.

In addition, in the market some single as well as combination vaccine are available. The single vaccine such as influenza virus, ebola virus, chickenpox, smallpox, polio, tetanus, tuberculosis and others could be explored in vaccine contract manufacturing industry. The factors that play an important role in the growth of market include increasing demand, growing population, increasing urbanization & industrialization, growing pharmaceutical industry, increase in the number of countries demanding the introduction of vaccines, stringent government rules & regulations and increasing awareness about vaccination & its benefits in developing countries. Moreover, increasing prevalence of various bacterial and viral infections is a main factor drive the growth of the vaccine contract manufacturing market in the next couple of years.

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However, high cost of vaccination, regulatory challenges and patent expiration in recent times are negatively impacting the growth of vaccine contract manufacturing industry. The market is widely analyzed based on different regional factors such as gross domestic product (GDP), demographics, acceptance, inflation rate and others. The market is categorized based on vaccine type, product type, workflow, application and geography.

The market is classified into workflow such as downstream and upstream. The “downstream” segment is further segregated into fill & finish operations, packaging and analytical & QC studies whereas the segment “upstream” is segmented into mammalian expression systems, yeast expression systems, bacterial expression systems, baculovirus/insect expression systems and others. Vaccine production requires skilled personnel for downstream as well as upstream processing. The “downstream” segment is expected to witness significant growth in the coming years owing to the robust demand for downstream processing and sophisticated equipment for efficient product recovery.

North America is accounting large market share in the years to come owing to widespread manufacturing of vaccines in this region, coupled with growing presence of large number of biopharmaceutical facilities. State and the other laws pertaining to development of vaccines & other biologics, particularly in Canada and U.S. are expected to boost the market growth in this region. On the other hand, Asia Pacific is projected to grow at a higher CAGR in the next couple of years due to growing population, improving infrastructure in several developing countries, and growing pharmaceutical industry.

The key players contributing to the robust development of the vaccine contract manufacturing market include Lonza, Paragon Bioservices Inc., Ajinomoto Althea Inc., FUJIFILM Diosynth Biotechnologies U.S.A. Inc., Merck KGaA, Cytovance Biologics, Catalent Inc., IDT Biologika GmbH, Albany Molecular Research Inc., PRA Health Sciences, ICON plc., Pharmaceutical Product Development, LLC, and Cobra Bio. The major market players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.