Pharmaceutical contract manufacturing companies offer several services to drug companies, such as drug development, drug manufacturing & commercial production, biologics manufacturing, and packaging. Pharmaceutical contract development & manufacturing organizations serve other companies in the pharmaceutical industry on a contract basis, providing the aforementioned services. This allows major pharmaceutical companies to outsource certain functions, enabling them to focus on scalability, drug discovery, and drug marketing.
Furthermore, in recent years the pharmaceutical industry has increased its investments in outsourcing, supporting the growth of the pharmaceutical contract development and manufacturing market. Meticulous Research®, in its latest publication on the Pharmaceutical Contract Development and Manufacturing Market, states that the pharmaceutical contract development and manufacturing market is projected to reach $226.35 billion by 2029 at a CAGR of 7.5% from 2022–2029.
The growth of the pharmaceutical contract development and manufacturing market is attributed to factors such as the pharmaceutical industry’s complex manufacturing requirements & inclination towards cutting-edge technologies, patent expiration, increasing investments in pharmaceutical R&D, the rising demand for generic medicines & biologics, and the outbreak of the COVID-19 pandemic.
To provide efficient analysis, Meticulous Research® has segmented this market based on service {Pharmaceutical Manufacturing (Pharmaceutical API Manufacturing Services, Pharmaceutical FDF Manufacturing Services [Parenteral/Injectable Manufacturing Services, Tablet Manufacturing Services, Capsule Manufacturing Services, Oral Liquid Manufacturing Services, and Other Formulations]), Drug Development Services, Biologics [API Manufacturing Services, FDF Manufacturing Services], Packaging}, End User (Large Pharmaceutical Companies, Small & Mid-size Pharmaceutical Companies, Generic Pharmaceutical Companies), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
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Based on geography, in 2022, North America is estimated to command the largest share of this market, followed by Asia-Pacific. North America’s major market is attributed to the growing demand for generic drugs and biologics, increasing consolidation of CDMOs, the rising demand for biosimilars due to patent expiry, and increasing expenditures on outsourcing. Furthermore, the contract manufacturing market in North America is highly competitive due to organizations’ emphasis on pharmaceutical and biotechnology research.
Based on service, in 2022, the pharmaceutical manufacturing services segment is estimated to account for the largest share of the pharmaceutical contract development and manufacturing market. The pharmaceutical manufacturing services segment is further subsegmented into API manufacturing services and FDF manufacturing services. In 2022, the API manufacturing services segment is estimated to dominate the pharmaceutical manufacturing services market. Factors such as the complexities involved in the development of viable APIs and the increasing investments in API manufacturing services drive the growth of this segment.
Based on end user, the generic pharmaceutical companies segment is expected to register the highest growth rate during the forecast period. The high growth of this segment is attributed to factors such as the increasing competition in the generics market leading to pricing pressures and the pharmaceutical industry’s inclination towards cutting-edge technologies offered by contract development and manufacturing companies.
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Key Players:
The report provides competitive intelligence such as the financials, growth strategies, service portfolios, and geographical presence of the key players operating in this market, including Thermo Fisher Scientific Inc. (U.S.), Catalent Inc. (U.S.), Lonza Group Ltd (Switzerland), Recipharm AB (Sweden), Vetter Pharma-Fertigung GmbH & Co. KG (Germany), Piramal Enterprises Limited (India), Almac Group (U.K.), Cambrex Corporation (U.S.), Samsung Biologics Co., Ltd (South Korea), Siegfried Holding AG (Switzerland), FUJIFILM Diosynth Biotechnologies (Japan), Aenova Group GmbH (Germany), C.H. Boehringer Sohn AG & Co. KG (Germany), Fareva (France), Fabbrica Italiana Sintetici S.p.A. (Italy), WuXi Biologics (Cayman) Inc. (China), and Aurobindo Pharma Ltd. (India).
Key Questions Answered in the Report-
- Which are the high-growth market segments in terms of service, end user, and region/country?
- What was the historical market size for pharmaceutical contract development and manufacturing across the globe?
- What are the market forecasts and estimates for 2022–2029?
- What are the major drivers, challenges, opportunities, and trends in the global pharmaceutical contract development and manufacturing market?
- Who are the major players in the global pharmaceutical contract development and manufacturing market?
- How is the competitive landscape, and who are the market leaders in the global pharmaceutical contract development and manufacturing market?
- What are the recent developments in the global pharmaceutical contract development and manufacturing market?
- What are the different strategies adopted by the major players in the global pharmaceutical contract development and manufacturing market?
- What are the geographical trends and high growth regions/countries?
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Author:
Mr. Khushal Bombe
Meticulous Market Research Inc.
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