According to the report, the global fill finish manufacturing market was valued at approximately USD 2.99 billion in 2017 and is expected to reach around USD 5.15 billion by 2024, growing at a CAGR of 8.8 % between 2018 and 2024.
New York, NY, Dec. 07, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Fill Finish Manufacturing Market by Product (Consumables (Vial, Prefilled Syringes, Cartridge, and Others) and Instruments) and by End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Academic Research Institutes, and Medical Device Companies): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2024”. According to the report, the global fill finish manufacturing market was valued at approximately USD 2.99 billion in 2017 and is expected to reach around USD 5.15 billion by 2024, growing at a CAGR of 8.8 % between 2018 and 2024.
Fill finish manufacturing involves aseptically filling of biological drugs or medicines in any form, such as sterile liquid, powder, and suspension, in vials, ampoules, bottles syringes, and cartridges. Many biopharmaceutical products are fragile in nature and have several stability problems during pharmaceutical processing and filling. These biological drugs are prone to contamination that could lead to huge economic losses for the manufacturers. Fill and finish operations provide advanced aseptic solutions to prevent contamination of biopharmaceutical products.
Browse through 30 Tables & 10 Figures spread over 110 Pages and in-depth TOC on “Global Fill Finish Manufacturing Market: By Industry Type, Size, Share, Growth, Analysis, and Forecast to 2018–2024”.
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Growing biopharmaceutical industry globally is likely to drive the fill finish manufacturing market in the future. Increasing adoption of prefilled syringes, technological advancements related to fill finish manufacturing solutions, and launch of new drugs and therapeutics are among other factors fueling the fill finish manufacturing market growth. However, high capital requirement and stringent regulatory policies are hampering the global fill finish manufacturing market. Alternatively, emerging biopharmaceutical industry in developing countries is likely to offer lucrative opportunities during the forecast time period.
By product, the fill finish manufacturing market is divided into consumables and instruments. The consumables segment was the highest revenue grosser in 2017. Fill finish manufacturing is a common unit operation in the manufacturing of biological drugs. The increasing demand for fill finish manufacturing in biopharmaceutical companies and CRO’s are projected to poise the expansion of the consumables segment in the upcoming years.
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By end-user, the fill finish manufacturing market is divided into pharmaceutical and biotechnology companies, contract research organizations, and others. The pharmaceutical and biotechnological companies dominated the market and accounted for the largest share in 2017, due to various factors, such as contamination prevention in the production of feed and maintenance of the aseptic conditions in the manufacturing facility. In addition, the presence of strict regulatory policies for drug approvals and quality control in the production facilities are other factors driving the pharmaceutical and biotechnology companies segment. The contract research organization segment is likely to grow at the highest CAGR during the forecast time period.
Europe dominated the fill finish manufacturing market with over 40% market share in 2017. This region’s growth was accounted to the emergence of the biosimilar market and patent expiry of key biologic products. Moreover, faster adoption of advanced technologies and the presence of a large number of well-established biopharmaceutical companies in the region have spurred the demand for the fill finish manufacturing in this region.
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North America was the second largest market. The U.S. and Canada were the leading countries and maximum revenue generators in 2017. This region’s growth was primarily accounted to the increased demand for fill finish for drug manufacturing, drug development, and biologicals’ production. In addition, the presence of key market players and large capital investments in R&D are expected to drive the North American fill finish manufacturing market.
Asia Pacific is likely to witness the fastest growth in the upcoming years. India and China are dominating the Asia Pacific fill finish manufacturing market. This region is an emerging market with great opportunities for growth. It is predicted to become a destination for corporate investors in the biopharmaceutical industry in the forecast time period. Contract drug manufacturing services, clinical outsourcing, and rapidly growing pharmaceutical industry are driving the fill finish manufacturing market in this region. Latin America and the Middle East and Africa are the emerging markets estimated to witness steady growth during the forecast time period. Growing healthcare industry in Brazil is projected to fuel the Latin American market for fill finish manufacturing.
Browse the full “Fill Finish Manufacturing Market by Product (Consumables (Vial, Prefilled Syringes, Cartridge, and Others) and Instruments) and by End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Academic Research Institutes, and Medical Device Companies): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2024” report at https://www.zionmarketresearch.com/report/fill-finish-manufacturing-market
Some key players of the global fill finish manufacturing market include Becton, Dickinson and Company, West Pharmaceutical Services, Inc., Gerresheimer AG, Robert Bosch GmbH, IMA, OPTIMA, and Nipro Medical Corporation.
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This report segments the global Fill Finish Manufacturing market as follows:
Global Fill Finish Manufacturing Market: Product Segment Analysis
- Prefilled Syringes
Global Fill Finish Manufacturing Market: End-User Segment Analysis
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
Global Fill Finish Manufacturing Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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