Vaccine Contract Manufacturing Market is Growing Rapidly with Moderna collaborating with Catalent Inc. for Fill-Finish manufacturing of Moderna’s COVID-19 vaccine candidate

 

Vaccine Contract Manufacturing

Contract manufacturing is a complex process involved in producing vaccine products. This type of production usually involves the manufacturing of vaccines in a single step. Contract manufacturers usually produce vaccines at their facilities; however, some contract manufacturers also service the field through the provision of workspace and by taking care of the closing storage and final disposition of finished products. Some contract manufacturers specialize in the manufacture of one or few vaccines. Others manufacture vaccines for a number of diseases.

Technological developments in biomanufacturing and biotechnology are expected to drive growth of the global vaccine contract manufacturing market. Biotechnology has witnessed significant growth in the recent past in both developed and emerging economies. According to the India Brand Equity Foundation (IBEF), the Indian biotechnology industry was valued at US$ 63 billion in 2019 and is expected to reach US$ 102 billion by 2025, registering a CAGR of 10.9%. Besides, key biotechnology and pharmaceutical companies are focused on launching vaccines for protection against infectious diseases. For instance, in December 2020, Moderna Inc., a U.S.-based biotechnology company, received the U.S. Food and Drug Administration (FDA) approval for the use of an mRNA-1273 vaccine against COVID-19 in individuals aged 18 years and above. Hence, such factors are expected to drive growth of the global vaccine contract manufacturing market. Furthermore, rising awareness regarding vaccines and their benefits in emerging economies is expected to propel the global vaccine contract manufacturing market growth in the near future.

High cost associated with equipment used in vaccine manufacturing is expected to restrain growth of the global vaccine contract manufacturing market growth in the near future. Among regions, North America is expected to witness significant growth in the global vaccine contract manufacturing market. This is owing to growing presence of major biopharmaceutical companies in the U.S. and Canada. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to increasing R&D activities in emerging economies such as China and India.

Key companies involved in the global vaccine contract manufacturing market are Catalent, Inc., Lonza, Cobra Bio, FUJIFILM Diosynth Biotechnologies U.S.A., Inc., Paragon Bioservices, Inc., Ajinomoto Althea, Inc., PRA Health Sciences, Cytovance Biologics, IDT Biologika GmbH, and Albany Molecular Research, Inc.

For instance, in June 2020, Moderna Inc., a U.S.-based biotechnology company, collaborated with Catalent Inc. for Fill-Finish manufacturing of Moderna’s COVID-19 vaccine candidate.