The contract pharmaceutical fermentation services market is anticipated to continue its steady growth on back of the evolving use of fermentation techniques to develop active pharmaceutical ingredients (API) coupled with active research studies, and progressive regulatory scenario. The global contract pharmaceutical fermentation services market is envisaged to account for over US$ 4 billion by 2026, according to a recent analysis by FactMR.
Funding for early stage advanced biotechnology is increasing and companies commercializing fermentation-sourced technologies are either building their own demonstration-scale facility or using existing contract manufacturing organizations (CMOs). Several pharmaceutical companies are increasingly leveraging contract pharmaceutical fermentation services, which as per Fact.MR is likely to contribute over nearly US$ 2,400 million by value by 2026-end.
The FactMR study opines that the growing prevalence of various diseases has been accelerating demand for pharmaceutical products which is further propelling pharmaceutical firms to associate with contract pharmaceutical fermentation services’ providers. Together they can introduce highly unique and advanced molecules at a fast pace. Furthermore, the growing prevalence of a wide range of diseases, such as diabetes, cancer, hemophilia, rheumatoid arthritis, myocardial infarction, anemia, etc., has triggered demand for bulk pharmaceutical products with myriad applications in disease management.
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As per the American Diabetes Association (ADA), over 30 million Americans developed diabetes in 2015, which is 9.4% of the total population. The ADA concluded that nearly 1.5 million Americans get diagnosed with diabetes every year. The Fact.MR study opines that drug commercialization to CMOs/CDMOs in tandem with growing focus to alleviate the operating costs via outsourcing of R&D is driving efficiency of value chain. Furthermore, outsourcing at the later stages of drug development to a contract pharmaceutical fermentation services provider is also leading to improved efficiencies across the value chain.