Article -> Article Details
| Title | Pharmaceutical Contract Manufacturing Market Size Size, Share, Top Key Players Update |
|---|---|
| Category | Fitness Health --> Health Articles |
| Meta Keywords | Pharmaceutical Contract Manufacturing Market Size |
| Owner | Vaibhav |
| Description | |
| Pharmaceutical Contract Manufacturing Market Size Pharmaceutical
Contract Manufacturing Market Size to witness a CAGR of 6.0% to attain
a value of USD 174.2 Billion by 2027 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: top 10 pharmaceutical
contract manufacturing companies 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 Geographically, the Pharmaceutical
Contract Manufacturing Market span across regions namely, Asia Pacific,
America, Europe, and the Middle East and 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 | |