Rising demand for generic formulations, increased investments in pharmaceutical Research & Development and advanced manufacturing technologies by contract development and manufacturing organization (CDMO’s) are key factors contributing to the high CAGR of Pharmaceutical Contract Manufacturing market during the forecast period.
According to the current analysis of Reports and Data, the global Pharmaceutical Contract Manufacturing market was valued at USD 82430.9 Million in 2018 and is expected to reach USD 144958.8 million by the year 2026, at a CAGR of 7.2%.
The pharmaceutical industry uses outsourcing services from providers in the form of contract research organizations (CROs) and contract manufacturing organizations (CMOs). Comprehensive single-source provider from drug development through commercial manufacture has emerged in recent years. It is known as contract research and manufacturing services (CRAMS), or contract development and manufacturing organizations (CDMO). Pharmaceutical Contract Manufacturing organizations are a response to the competitive international nature of the pharmaceutical market as well as the increasing demand for outsourced services.
With the increasing demand for generic formulations and biologics, complex manufacturing requirements, and the capital-intensive nature of the business, many pharmaceutical companies have identified the potential profitability in contracting with a CMO (contract manufacturing outsourcing) for both commercial and clinical stage manufacturing. Furthermore, pharmaceutical companies have been directing their priorities towards the core areas of competency, and hence, prefer not to dispense available resources, expertise, and technology on formulating the final dose of medicines. The costs invested in R&D are increasing, and the useful results returned from these processes are becoming scarcer. Many manufacturing companies have realized that moving this part of the business overseas and taking advantage of the still-emerging pharmaceutical markets is an effective method of cutting costs. However, Increasing Lead Time and Logistics Costs and stringent Regulatory Requirements by different nations are expected to hinder the pharmaceutical contract manufacturing market growth
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2280
Further key findings from the report suggest
- Drug development services segment is expected to witness substantial growth of 7.4 % during the forecast period
- The companies operating in the pharmaceutical contract manufacturing market are also acquiring start-ups working on enterprise network equipment technologies to strengthen their product capabilities. For instance, in April 2017, Famar announced the closure of the acquisition of a manufacturing site from Bayer, located at Pointe-Claire, Canada, with the transfer of full ownership of the plant to Famar. Also, in September 2018, Catalent’s acquired Cook Pharmica. The main aim of the acquisition is to strengthen Catalent’s position as a leader in the rapidly growing biologics development, analytical, manufacturing and finished product supply industry by adding more drug substance and drug product expertise and capacity to serve patients worldwide.
- Pharmaceutical Contract manufacturing organizations offer advantages of reduction in overall investment required to bring a new drug product to market, providing access to expensive technologies, quick entry of products in markets, and greater flexibility This has led to several large companies to outsource their biopharmaceutical manufacturing operations
- The deluge of small and virtual startups with negligible manufacturing capacity is flourishing the global pharmaceutical contract manufacturing market. The rising number of U.S. FDA-approved manufacturing facilities in developing countries is also working in favor of the growth of the pharmaceutical contract manufacturing market.
- North America, is the world’s largest market for drug formulations and accounts for almost half of the research and development spending in biotechnology and pharmaceutical markets. Therefore, pharmaceutical contract manufacturing organizations play a major role in this market and have invested in new technologies and facilities to cater to a broad range of outsourcers. The United States is expected to face strong competition from Asia-Pacific contract manufacturing organization providers, especially in solid dosage formulations.
- The consolidation of pharmaceutical contract manufacturing is expected to occur within the next five years, as the competitors will either leave the industry, or abandon a specific area within the industry, or go out of business. This improves the pricing power of value-added Pharmaceutical Contract Manufacturing organizations.
- The global Pharmaceutical Contract Manufacturing market is highly fragmented with major players Thermo Fisher Scientific Inc. (US), Catalent, Inc. (US), Lonza Group Ltd (Switzerland), Recipharm AB (Sweden), Vetter Pharma International GMBH (Germany), FAMAR Health Care Services (Greece), AbbVie Inc. (US), Aenova Group (Germany), Consort Medical plc (UK), Almac Group (UK), Siegfried Holding AG (Switzerland), Boehringer Ingelheim International GmbH (Germany), and Evonik Industries AG (Germany).
Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/2280
Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the Pharmaceutical Contract Manufacturing market on the basis of service, end-user, and region:
Service Outlook (Revenue in Million USD; 2016–2026)
- Pharmaceutical Manufacturing Services
- Pharmaceutical API Manufacturing
- Pharmaceutical FDF Manufacturing
- Oral Liquid
- Other Formulations
- Biologics Manufacturing Services
- Biologics API Manufacturing
- Biologics FDF Manufacturing
- Drug Development Services
End User Outlook (Revenue in Million USD; 2016–2026)
- Big Pharma
- Small & Mid-size Pharma
- Generic Pharmaceutical Companies
- Other End Users
Regional Outlook (Revenue in Million USD; Volume in Kilotons; 2016–2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/2280
Thank you for reading our report. To know more about the customization of the report or further query about the report, please get in touch with us. Our team will ensure the report is well suited to your requirements.
Explore Reports and Data’s Prime Analysis of the global Healthcare & Pharmaceutical Industry:
Patient Temperature Management Devices Market @ https://www.google.mu/url?q=https://www.reportsanddata.com/report-detail/patient-temperature-management-devices-market
Cardiac Care Medical Equipment Market @ https://www.google.kz/url?q=https://reportsanddata.com/report-detail/cardiac-care-medical-equipment-market
Hospital Furniture Market @ https://www.google.cm/url?q=https://reportsanddata.com/report-detail/hospital-furniture-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
Read Full Press Release: https://www.reportsanddata.com/press-release/global-pharmaceutical-contract-manufacturing-market