Alira Health Releases 2024 Biologics and Advanced Therapies CDMO Market Report Amid Continued Macro-Economic Uncertainty
Despite market contraction in 2023, strategic interest in biologics and advanced therapies remains robust, with a rebound expected by 2025.
Alira Health, a global advisory and clinical research firm, has published its 2024 Biologics and Advanced Therapies Contract Manufacturing Report offering a comprehensive analysis of current industry trends and competitive dynamics across North America and Europe.
The report provides key insights into the challenges and opportunities facing the biologics and advanced therapies contract development and manufacturing organization (CDMO) market as it navigates macro-economic uncertainty. Key insights:
- The global CDMO biologics and advanced therapies market contracted by 17% in 2023, driven by reduced demand for mRNA vaccines and patent expirations on major blockbuster drugs. A rebound is expected, fueled by increased global production of branded and biosimilar drugs, with the market anticipated to return to 2022 levels by late 2025.
- Large and medium-sized CDMOs continue to dominate, accounting for 89% of total revenue. Although small and micro-manufacturers represent most market participants, they contribute just 11% of overall revenue.
- In 2023, cell and gene therapies saw a record number of FDA approvals and innovations, with eight therapies approved despite challenging market conditions, compared to five in both 2022 and 2021. These breakthroughs mark a new phase for transformative therapies nearing commercialization. As production scales up, significant growth is anticipated in the advanced therapies CDMO market.
“The shift towards biologics and biosimilars is driving demand for manufacturing excellence. CDMOs must adopt end-to-end process control and production stability to meet the increasing demand for high-throughput manufacturing,” said Carlo Stimamiglio, Partner, Transaction Advisory Services at Alira Health.
“Manufacturers are strategically consolidating and integrating both horizontally and vertically to offer comprehensive services that meet diverse customer needs,” added Filippo Pendin, Principal, Transaction Advisory Services at Alira Health and lead author of the report.
The 2024 Biologics and Advanced Therapies Contract Manufacturing Report is now available for download.