Fill Finish Manufacturing Market - Emerging Trends to Boost the Global Industry Growth

2022-05-12 09:10:33 UTC | Healthcare & Pharmaceuticals
Fill Finish Manufacturing Market - Emerging Trends to Boost the Global Industry Growth
Major Growth Boosting Factors:

The major factors driving the growth of this market include rising technological advancements in fill finish manufacturing processes, the growth of the biopharmaceutical industry, and the rising adoption of prefilled syringes for parenteral dosage forms. The rise in outsourcing of fill-finish operations and the untapped potential in emerging markets offer a significant scope of growth in the fill-finish manufacturing industry.

Projected Revenue Surge:

The global fill finish manufacturing market size is projected to reach USD 12.1 billion by 2025 from USD 7.5 billion in 2020, at a CAGR of 10.0% during the forecast period.

Overview of This Study:

The study involved two major activities in estimating the current market size of the fill-finish manufacturing market. Exhaustive research was conducted to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

End Users:

Based on end-users, the fill-finish manufacturing market is segmented into contract manufacturing organizations, biopharmaceutical & pharmaceutical companies, and others (including research & development laboratories and academic research institutions). The contract manufacturing organizations segment dominated the fill-finish manufacturing industry in 2019. This can primarily be attributed to the rising demand for outsourcing of fill-finish manufacturing processes from small-sized biopharmaceutical companies and the growing number of new entrants in the biologics manufacturing market.

Geographical Growth Dynamics:

In terms of geographical coverage, the market is divided into five major regions—Europe, North America, Asia Pacific, LATAM, and the MEA. In 2019, Europe was the largest contributor to the global fill-finish manufacturing market, followed by North America. This regional growth can be attributed primarily to the growing focus on the development of biosimilar due to the patent expiry of key biologics products. The Asia Pacific region is estimated to grow at the highest CAGR in the fill-finish manufacturing industry during the forecast period, mainly due to the presence of a large number of CMOs in China & India, increasing government support, low production and labor costs, and less-stringent regulations in comparison to other developed nations. 

Key Players:

The major companies in the fill-finish manufacturing market are Becton, Dickson and Company (US), Syntegon Technology GmbH (Germany), I.M.A. (Industria Macchine Automatiche) S.p.A. (Italy), Stevanato Group (Italy), West Pharmaceutical Services, Inc. (US), OPTIMA Packaging Group GmbH (Germany), Bausch+Strobel (Germany), Groninger & Co. GmbH (Germany), and Gerresheimer AG (Germany).

Read Detailed Article@ https://www.marketsandmarkets.com/Market-Reports/fill-finish-manufacturing-market-6249609.html
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