The global market for pharmaceutical contract manufacturing represents one of the fastest growing markets and it is expected to proffer enormous opportunities in the near future. Contract manufacturing contributes significantly to the overall outsourcing market, owing to its popularity and widespread adoption by pharmaceutical companies. Cost containment issues resulted from global economic constraints, have exerted extensive pressure on pharmaceutical manufacturers to reduce the cost of products. Hence, to make way out of this situation, pharma companies are looking to reduce the manufacturing cost.
Contract manufacturing, as a strategic option, offers the certain benefits such as cost reduction, improved product quality, product portfolio and reduction in time to market. Contract manufacturing also support the pharmaceutical companies to focus on R&D and marketing activities by minimizing the time and efforts invested in manufacturing activity. Hence, contract manufacturing is the largely accepted trend in the recent years. HAUPT Pharma AG, Abbott Laboratories, NextPharma, Catalent Pharma Solutions, Althea Technologies, Jubilant Life Sciences Limited, Royal DSM N.V and Nipro Corp. are some of the big players of this market. Patent expiration of major therapeutic brands, growing demand for generic drugs and adoption of novel manufacturing technologies are expected to boost the growth of this market.
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The global market for pharmaceutical contract manufacturing is segmented based on type of contract manufacturing and geography. Based on type of contract manufacturing, the market is segmented as, Active Pharmaceutical Ingredients (API) / Bulk drug, Final Dosage Form (FDF), advanced drug delivery products, OTC medicines and Nutritional products and Packaging contract manufacturing. The final dosage form contract manufacturing (FDF) is expected to grow with substantial CAGR due to growing demand for generic products and rising R&D investments.
Geographically, global market for pharmaceutical contract manufacturing is segmented into North America, Europe, Asia-Pacific and LAMEA. North America dominates the global contract manufacturing market, whereas, Asia-Pacific is the fastest growing market due to adoption of advanced technologies, favorable regulatory framework, reduced labor cost and availability of skilled workforce.