Vaccine contract manufacturing market to undergo shift, says analyst
A recent report by Visiongain predicts that the overall revenue for the vaccine contract manufacturing market will reach $1,047.3m in 2019 (the market generated revenues of $712.5m in 2014).
This positive growth is expected to continue through 2026, driven by an aging population and an increasing demand for therapeutic vaccines.
“In the past few years there has been an increase in research into therapeutic vaccines,” Mark Grayson, PhRMA, tells us. “We expect it’s going to be an area that will provide great promise for patients.”
According to the report, there will also be a shift way form traditional egg-based methods for vaccine manufacturing, as companies turn towards cell-based methods. Additionally, single-use manufacturing technology will increase in popularity.
“The vaccine contract manufacturing market, predicted to be worth over $800m in 2016, is ready to undergo a shift, with the emergence of manufacturing bases in the East that meet the strict quality control standards associated with vaccine production,” Jack Evans pharmaceutical analyst, Visiongain ltd., tells OutsourcingPharma.com.
Eastward movement
Due to safety and quality concerns, the market has traditionally been US- and European-dominated. Companies such as IDT Biologika have large manufacturing centers in these countries, despite the increased costs that could be reduced by off-shoring.
“In recent years however, emerging nations such as China and India have improved their manufacturing facilities and techniques and have achieved the required level of quality control to be able to produce vaccines on a contract manufacturing basis with a high degree of confidence and safety,” says Evans.
For example, Visiongain reports that the Chinese market for contract manufacturing will be worth more than $100m in 2024. Similarly, India’s market will see even high gains, with an expected market of $120m by 2024.
“The majority of revenue will still be generated in the traditional strongholds and companies in the West,” adds Evans, “however, Eastward market movement will create challenges for these companies.”'
