Meticulous Research

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  • 01-Mar-2021

Meticulous Research®– leading global market research company published a research report titled Pharmaceutical Contract Development and Manufacturing Market By Service [Pharmaceutical Manufacturing Services (API, FDF), Drug Development Services, Biologics Development], End User [Big & Generic Pharmaceutical Companies] – Global Forecast to 2027”. According to this latest publication from Meticulous Research®, the pharmaceutical contract development and manufacturing market is expected to grow at a CAGR of 6.5% from 2020 to 2027 to reach $134.23 billion by 2027. Some of the major factors driving the growth of this market include complex manufacturing requirements, increasing investments in pharmaceutical R&D, increasing outsourcing of clinical trials, and the outbreak of the COVID-19 pandemic. In addition, rising demand for generic medicines & biologics, growing demand for cell & gene therapies, and increasing pharmaceutical outsourcing support the growth of this market. However, service quality & IPR issues, lack of skilled professionals, and introduction of serialization are the key factors expected to hinder the growth of the pharmaceutical contract development and manufacturing market.

Pharmaceutical Contract Development and Manufacturing Market: Future Outlook

The pharmaceutical contract development and manufacturing market study presents historical market data in terms of values (2018 and 2019), estimated current data (2020), and forecasts it for 2027, by Service [Pharmaceutical Manufacturing Services (API, FDF), Drug Development Services, Biologics Development], End User [Big & Generic Pharmaceutical Companies] and Geography. The study also evaluates industry competitors and analyzes their market share at the global and regional levels.

Based on service, the pharmaceutical manufacturing services segment is estimated to account for the largest share of the pharmaceutical contract development and manufacturing market in 2020. The large share of this segment is mainly attributed to the increasing focus on advanced technologies & manufacturing skills, the growing need to reduce manufacturing cost, the requirement for high-quality bulk manufacturing, and the growing demand for generic drugs.

On the other hand, the biologic manufacturing services segment is slated to grow at the highest CAGR during the analysis period due to the adoption of advanced technologies for biological production, an inclination of biopharma and pharma companies towards outsourcing of their activities, and increasing applications of monoclonal antibodies (mAbs) and development of next-generation antibody therapies, such as antibody-drug conjugates.

Based on end user, the big pharmaceutical companies segment is estimated to dominate the pharmaceutical contract development and manufacturing market in 2020. The major share of this segment is primarily attributed to the rising incidence and prevalence of various diseases across the globe, thereby stirring huge demand for effective medicines and breakthrough biopharmaceutical products, growing need for state-of-the-art processes and production technologies, and the increasing cost of clinical trials & early development studies.

This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and the Middle East & Africa. In 2020, North America is estimated to command the largest share of the pharmaceutical contract development and manufacturing market, followed by Europe and Asia-Pacific.

The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. Growth in this market is expected to be driven by increasing government focus on the pharmaceutical sector, growing pharmaceutical manufacturing sector, and rising incidence & prevalence of chronic illness. In addition to this, rising awareness towards overall health and treatment availability, increasing number of clinical trials, and growing outsourcing of clinical activities are the factors responsible for the growth of the region during the forecast period.

The key players operating in the pharmaceutical contract development and manufacturing market are Thermo Fisher Scientific Inc. (U.S.), Catalent Inc. (U.S.),  PPD Inc. (U.S.), Lonza Group Ltd. (Switzerland), Recipharm AB (Sweden), Vetter Pharma-Fertigung GmbH & Co. KG  (Germany), AbbVie Inc. (U.S.), Synoes Health, Inc. (U.S.), Piramal Enterprises Limited (India), Almac Group (U.K.), Albany Molecular Research Inc. (U.S.), Fareva Holding SA (France), and Jubilant Life Sciences Limited (India), among others.

Download Sample PDF Copy Here https://www.meticulousresearch.com/download-sample-report/cp_id=5171

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 for pharmaceutical contract development and manufacturing services across the globe?
  • What are the market forecasts and estimates for the period 2020–2027?
  • What are the major drivers, restraints, challenges, opportunities, and trends in the pharmaceutical contract development and manufacturing market?
  • Who are the major players in the pharmaceutical contract development and manufacturing market?
  • How is the competitive landscape, and who are the market leaders in the pharmaceutical contract development and manufacturing market?
  • What are the recent developments in the pharmaceutical contract development and manufacturing market?
  • What are the different strategies adopted by the major players in the pharmaceutical contract development and manufacturing market?
  • What are the geographical trends and high growth regions/countries?

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