Pharmaceutical Contract Manufacturing Market Insights Research Report - Global Forecast till 2030
Pharmaceutical Contract Manufacturing Market
Pharmaceutical
Contract Manufacturing Market Size to witness a
CAGR of 6.0% to attain a value of USD 179.4 Billion by 2030 owing to the growing investment in
R&D activities, asserts Market Research Future (MRFR). The pharmaceutical
industry is experiencing a dynamic change. Pricing pressure, pipeline
challenges, and emerging markets are redesigning the way companies operate.
Pharmaceutical providers need to alter as well. Contract manufacturers that
distinguish their abilities and offerings will be able to retain their
customers and expand their business within the competitive market.
Drivers and
Restraints Impacting the Market
Over the past few
years, reliance on drugs and medicines have increased significantly. With
increased demand for innovative drugs and limited number of blockbuster drugs,
large pharmaceutical companies are trying to stay competitive by conducting
faster drug development with corresponding cost containment. Moreover, after
the regulatory approval of drug, companies are left with less time to deliver
drug in the market in considerable quantity. Such factors are leading to
greater outsourcing of manufacturing facilities to contract manufacturers.
Influx of virtual and small startups with negligible manufacturing capacity is
further propelling the market growth during the assessment period. Also, rising
demand for next-generation biological therapies is opening doors for
manufacturers, thereby driving the market across the globe.
On the flip side,
lack of manufacturing standardization and capacity utilization of issues are
some of the major factors impacting the profitability of pharmaceutical
contract manufacturing organizations. Moreover, increasing lead time and
logistics costs are creating skepticism among pharmaceutical companies. This is
further impeding the market growth across the globe.
Major Key
Players:
Key
Market Players are Grifols International, AbbVie Inc, Catalant, Patheon Inc.,
Lonza AG, Boehringer Ingelheim, Vetter, S.A, Pharmaceutical Product
Development, and others.
Segment Analysis
The global pharmaceutical contract manufacturing
market has been segmented on the basis of type.
By mode of type, the global pharmaceutical contract
manufacturing market has been segmented into finished dosage formulation
market, active pharmaceutical
ingredient manufacturing, and others. Among these,
the active pharmaceutical ingredient manufacturing dominates the global market
owing to the restructuring of the pharmaceutical industry. Regulatory development
in the market will let generic drug companies manufacture and develop products for export. Improvement
in pharmaceutical manufacturing capabilities along with demand for specialized
technologies is considered to steer few companies to return to sourcing APIs
from the suppliers.
Regional Analysis
Global Pharmaceutical Contract Manufacturing Market
Insights, based on region, has been divided
into Europe, the Americas, Asia-Pacific, and Middle East & Africa.
Among all the regions, the
American region is presumed to dominate the global market due to well-developed
technology, improvement in the reimbursement scenario, high expenditure on
healthcare, and the presence of major market players.
Europe is considered to hold the
second position in the global pharmaceutical contract manufacturing market and
is estimated to maintain its dominance over the assessment period. The growth
is attributed to the support provided by the government for research and
development activities in this region.
The Asia Pacific region is
estimated to be the fastest growing region during the assessment period owing
to the rapidly improving technology and the presence of a huge patient
population in this region. However, the Middle East and Africa hold the least
share in the market due to the presence of slow and poor developing countries
in this region.
About Market Research
Future
At Market Research Future (MRFR), we enable our customers
to unravel the complexity of various industries through our Cooked Research
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In order to stay updated with technology and work
process of the industry, MRFR often plans & conducts meet with the industry
experts and industrial visits for its research analyst members.
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