The report is titled ‘Pharmaceutical Contract Manufacturing Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the pharmaceutical contract manufacturing market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The pharmaceutical contract manufacturing market is expected to grow at a significant rate in the near future.
The global pharmaceutical contract manufacturing market was valued at US$ 108.3 Bn in 2020 and expected to reach at a value of US$ 177.2 Bn by 2028 with a significant CAGR of 6.4%
Pharmaceutical contract manufacturing is a type of outsourcing where an organization commits themselves in a formal bond with another manufacturing firm for its products, elements, or components. The erstwhile manufacturing organization uses these products in its own manufacturing process for manufacturing their products.
Basically, a contract manufacturing organization (CMO) is an organization that serves its utility to the pharmaceutical industry and offers clients with all-inclusive and thorough services, ranging from drug development to manufacturing.
Outsourcing to a contract manufacturing organization (CMO) also enables the pharmaceutical clients to broaden the technical resources, without elevated overhead. The outsourcing of basic processes to another party allows the former organisation to maintain its internal resources and costs by aiming attention on the high-value projects and core competencies while lowering or not increasing infrastructure or technical staff.
The continuously growing demand for generic biologics and medicines among the masses owing to the rising number of chronic diseases is majorly propelling the growth of the global pharmaceutical contract manufacturing market across the globe.
In addition, there is also constantly increasing investments in pharmaceutical R&D activities from governments and regulatory authorities across the world which further boosts the growth of the global pharmaceutical contract manufacturing market.
The pharmaceutical R&D activities and manufacturing processes, in the present day world, is much more complex and have intricate requirements as well as it is capital-intensive in nature, due to which most of the pharmaceutical companies, worldwide, finds potential profitability in coming into terms with a CMO (contract manufacturing outsourcing) for both commercial stage as well as for clinical manufacturing. Attributing to which, the pharmaceutical contract manufacturing market is projected to witness rapid growth in the years to come.
Another one of the major factors that is expected to augment the growth of the global pharmaceutical contract manufacturing market over the forecast period is the emerging need of the state-of-the-art production and processes technologies, which have always turned out highly effective in meeting regulatory provisions.
Moreover, the surge in the number of foreign pharmaceutical contract manufacturing substitutes has left no option with contract manufacturers rather than being inimical to saving profit margins and differentiating themselves in an already highly competitive marketplace.
In the modern-day world, the marketplace is increasingly driven by price rather than value, which ultimately makes it obligatory for the pharmaceutical contract manufacturers to offer value other than just the conventional commercial manufacturing aspect of the drug product lifecycle.
Furthermore, the expeditiously evolving biotech industry across the world is also acting as a positive factor for the brisk growth of the global pharmaceutical contract manufacturing market in the near future. Although the majority of these biotech firms are wholly dedicated towards the manufacturing and development of drug compounds to apply themselves to a particular therapeutic area, these firms are short of advanced and sufficient infrastructure in the fields of production, clinical and regulatory agency submission. As a consequence, the last end choice for these pharmaceutical companies is to trade to a giant biotech or a pharma company. Nevertheless, if the appropriate degree of funding prevails, alliance with a pharmaceutical contract manufacturer have the potential to offer another feasible alternative.
By working jointly, a pharmaceutical contract manufacturer, a developing biotech company, and an established pharmaceutical donor company, can be capable of moving a drug product through approvals phases and ultimately into the global markets. Owing to such factors, the pharmaceutical contract manufacturing market is projected to witness significant growth in the coming years.
The global pharmaceutical contract manufacturing market is segmented on the basis of type and region. On the basis of the type, the pharmaceutical contract manufacturing market is segmented into:
Active Pharmaceutical Ingredient (API) Manufacturing
High Potency API (HPAPI)
Finished Dosage Formulation (FDF) Development and Manufacturing, and Packaging
Solid Dose Formulation
Liquid Dose Formulation
Injectable Dose Formulation
The global pharmaceutical contract manufacturing market is dominated by Catalent, Pharmaceutical Product Development LLC, AbbVie, Baxter BioPharma Solutions, Patheon, Grifols International, S.A., Dalton Pharma Services, and Boehringer Ingelheim Biopharmaceuticals GmBh, and Lonza AG, among others.
Asia Pacific is majorly monopolizing the global market of pharmaceutical contract manufacturing (CMOs) among all the regions. China, specifically in the region, is majorly turning into the most appealing nation for outsourcing pharmaceutical manufacturing. Noticeably, most of the pharmaceutical contract manufacturing (CMOs) functioning in China, at present, mainly provide bulk drug products and APIs for generic as well as approved branded drugs. In a similar manner, India is capitalizing as well on this upsurge in the domestic CMO market, further stimulating the Japanese pharmaceutical industries to establish their locations in the country, either completely-owned or in partnership with Indian companies. With the arrival of multinational pharmaceutical organizations and their swiftly rising presence in India, the idea of pharmaceutical contract manufacturing has substantially developed and rapidly adapted to encircling services, such as formulation development, primary manufacturing of medicinal products, stability analysis, and different phases of clinical trials.
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the pharmaceutical contract manufacturing market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Concerns for use of Pharmaceutical Contract Manufacturing
Advantages of Pharmaceutical Contract Manufacturing
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.