Recent articles from several publications have outlined the growing demand for products in Life Sciences industries. Genetic Engineering & Biotechnology News recently published an article citing the increasing demand in the biologics segment of the Life Sciences industry:
“The global biologics market is expected to reach $239 billion by 2015, $90 billion above the corresponding 2010 figure, reflecting a CAGR of nearly 10%. This growth rate, calculated by BCC Research, pertains to key market segments such as recombinant therapeutic proteins, monoclonal antibodies (mAbs), and vaccines.” View the full article here:
While this quote is focused on biologics, it reflects a broader and growing demand in manufacturing throughout segments within the Life Sciences industry.
In the article, Genetic Engineering & Biotechnology News poses the question, “How can this growth be sustained?” The answer for the biologics market as well as across other Life Sciences segments is contract manufacturing and contract research organizations.
Contract manufacturing organizations (commonly referred to as CMOs) fill this gap by manufacturing products for many customers, each with unique requirements. Their many customers expect them to deliver the highest quality in their manufactured products while maintaining compliance and reducing costs.
In our next blog, we outline 2 unique needs of contract manufacturers: Serving Multiple Customers and Heightened Competition.
Click here to view a recorded version of our “Blue Mountain RAM for Contract Manufacturers” webinar.
Read the CMO blog Series:
Blog 1: Industry View
Blog 2: Differentiating Factors
Blog 3: Purpose Built EAM & CMMS