Article -> Article Details
| Title | Pharmaceutical Contract Manufacturing Market Report, Growth and Forecast – 2030 |
|---|---|
| Category | Fitness Health --> Health Articles |
| Meta Keywords | Pharmaceutical Contract Manufacturing Market, Pharmaceutical Contract Manufacturing Market Size, Pharmaceutical Contract Manufacturing Market Industry, |
| Owner | Vaibhav |
| Description | |
| Pharmaceutical Contract Manufacturing Market Pharmaceutical Contract Manufacturing
Market Report 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 Trends, 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
Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R),
Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the
optimum quality market research and intelligence services to our clients. Our
market research studies by products, services, technologies, applications, end
users, and market players for global, regional, and country level market
segments, enable our clients to see more, know more, and do more, which help to
answer all their most important questions. 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. Contact us: Market Research Future
(part of Wantstats Research and Media Private Limited), 99 Hudson Street, 5Th Floor, New York, New York 10013 United States of America +1 646 845 9312 | |