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The Global Contract Pharmaceutical Manufacturing Market, by Service Type (Contract Manufacturing Organization (CMO) (API Manufacturing, Final Dosage Form Manufacturing and Packaging) and Contract Research Organization (CRO) (Drug Discovery, Preclinical Studies, Early Phase I – IIa, Phase IIa – III, Phase IIIb – IV, Medical Coding and Writing, Monitoring, Clinical Data Management, Bio-statistics, Site Management, and Protocol Development)), by Molecule Type (Small Molecules and Large Molecules), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 127.9 billion in 2018, and is projected to exhibit a CAGR of 9.3% during the forecast period (2018 – 2026), as highlighted in a new report published by .
An increasing number of key contract pharmaceutical manufacturers in the market are adopting in-organic growth strategies to capture higher market shares and remain competitive in the market.
For instance, in January 2016, Genpact and iContracts collaborated to support pharmaceutical, biotech, and medical device companies to transform their contract management operations with an innovative operating model to significantly reduce costs and improve accuracy and speed.
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In March 2018, PAREXEL International Corporation formed an alliance with CHA Medical Group (CHA) to enhance early phase clinical development in South Korea.
Furthermore, in October 2018, Lonza announced the expansion of its highly potent API (HPAPI) capacity for specific support of antibody drug conjugate (ADC) payload manufacturing. Antibody drug conjugate (ADC) is a form of Immuno-conjugate or bio-conjugate, which are designed for high-specificity targeting and destruction of cancer cells.
Furthermore, mergers and acquisitions between generic drug manufacturers, with major players focusing on enhancing their product portfolio through inorganic strategies is expected to support the addition of a generic drug portfolio into the company’s offerings.
For instance, in August 2016, Teva Pharmaceuticals Industries strengthened its position in the generic drugs market through the acquisition of the generic segment of Allergan, plc. for US$ 40.5 billion. This resulted in significant growth in revenue contribution of its generic drug segment, pegged at US$ 9.5 billion in 2016.
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In August 2018, Altasciences signed a definitive agreement to acquire preclinical testing business of SNBL U.S.A. This acquisition will add preclinical safety testing services to Altasciences’ full-service clinical and bio-analytical offerings.
In April 2018, Frontage Laboratories acquired Concord Biosciences, formerly known as Ricerca Biosciences, a preclinical contract research organization (CRO).
Browse 33 Market Data Tables and 38 Figures spread through 224 Pages and in-depth TOC on ‘Contract Pharmaceutical Manufacturing Market, by Service Type (Contract Manufacturing Organization (CMO) (API Manufacturing, Final Dosage Form Manufacturing and Packaging), Contract Research Organization (CRO) (Drug Discovery, Preclinical Studies, Early Phase I – IIa, Phase IIa – III, Phase IIIb – IV, Medical Coding and Writing, Monitoring, Clinical Data Management, Bio-statistics, Site Management and Protocol Development), by Molecule Type (Small Molecules and Large Molecules), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026’
To know the latest trends and insights prevalent in the contract pharmaceutical manufacturing market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/contract-pharmaceutical-manufacturing-market-to-surpass-us-2602-billion-threshold-by-2026-1232
Key Takeaways of the Contract Pharmaceutical Manufacturing Market:
- The global contract pharmaceutical manufacturing market is expected to exhibit a CAGR of 9.3% during the forecast period owing to rising need to outsource small molecules manufacturing and growing demand for generic drugs to fulfill consumer demand for cost-effective pharmaceuticals.
- Among service type segment, contract manufacturing organization (CMO) accounted for major market share in 2017. CMOs offer manufacturing services ranging from small amounts for preclinical R&D to large volumes for commercial production, necessary for clinical trials and commercialization.
- Among molecule type segment, the small molecules segment accounted for the highest revenue in 2017 in the market. Small-molecule drugs are an important and highly effective component of the bio/pharmaceuticals as they can be engineered to deliver a strong therapeutic effect with small doses unlike large molecules. Furthermore, clinical trials involving small-molecule therapeutics are simpler and less expensive than large-molecule drugs.
- Some of the major players operating in contract pharmaceutical manufacturing market are Accenture plc., Cognizant Technology Solutions, ATOS SE, Catalent, Inc., Covance, Inc., Boehringer Ingelheim GmbH, Genpact Limited, Lonza Group, PAREXEL International Corporation, Quintiles Transnational Corporation, Abbvie, Inc., Baxter International Inc., Dr. Reddy’s Laboratories Ltd., Aurobindo Pharma, Pfizer, Inc., The Almac Group, Teva Pharmaceutical Industries Ltd. and Piramal Enterprises Ltd.
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