Fill Finish Manufacturing Market Worth 4.47 Billion USD by 2022
Jan 19, 2018, 06:30 ET
PUNE, India, January 19, 2018 /PRNewswire/ --
According to a new market research "Fill Finish Manufacturing Market by product (Consumables (Vial, Prefilled Syringes (Glass, Plastic), Cartridge, Single Use Systems), Instruments), End User (Contract Manufacturing Organization, Biopharmaceutical Company, CROs) - Global Forecast to 2022", published by MarketsandMarkets™, the global market is expected to reach USD 4.47 Billion by 2022 from USD 2.96 Billion in 2017, at a CAGR of 8.6% during the forecast period (2017-2022). Technological advancements in fill-finish products, growth of the biopharmaceutical industry, rising adoption of prefilled syringes, and increase in fill-finish outsourcing are the major factors driving this market.
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Browse 81 market data Tables and 23 Figures spread through 123 Pages and in-depth TOC on "Fill Finish Manufacturing Market"
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The consumables segment is expected to hold the largest market share during the forecast period
On the basis of product, the Fill-Finish Manufacturing Market is segmented into consumables and instruments. In 2017, the consumables segment is expected to account for the largest share of the market. The dominant share of this segment can be attributed to the wide applications of vials in lyophilization, increasing demand for prefilled syringes, and the growth of the plastic prefilled syringes market.
The contract manufacturing organizations segment expected to grow at the highest rate in the next five years
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On the basis of end user, the market is classified into contract manufacturing organizations, biopharmaceutical companies, and other end users. The contract manufacturing organizations segment is the fastest-growing segment in the Fill-Finish Manufacturing Market. This can primarily be attributed to the rising demand for outsourcing the fill-finish manufacturing process and growing number of new entrants in the biologics manufacturing market.
Europe is expected to dominate the Fill-Finish Manufacturing Market in 2017
In 2017, Europe is expected to account for the largest share of the global Fill-Finish Manufacturing Market. The large share of the European region is mainly attributed to factors such as the emergence of biosimilar market due to patent expiry of key biologic products, rising incidence of chronic disorders, and increasing focus of major players on enhancing their presence in Europe.
The APAC region is expected to grow at the highest CAGR over the next five years. The growth of the Fill-Finish Manufacturing Market in this region is fueled by the overall growth in the biopharmaceutical industry.
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The key players operating in Fill-Finish Manufacturing Market include Becton, Dickinson and Company (US), West Pharmaceutical Services, Inc. (West Pharmaceutical Services) (US), Gerresheimer AG (Gerresheimer) (Germany), Robert Bosch GmbH (Robert Bosch) (Germany), IMA (Italy), OPTIMA (Germany), and Nipro Medical Corporation (US).
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