Dublin, Oct. 20, 2021 (GLOBE NEWSWIRE) -- The "Pharmaceutical Contract Development and Manufacturing Market (Pharmaceutical, Biologics, Active Pharma ingredients, tablet, Parenteral, Oral Liquid, Semi-Solids), End User (Big Pharma, Small Pharma, Generic Pharma, CRO)-Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global pharmaceutical contract development and manufacturing market is projected to reach USD 171.3 billion by 2026 from USD 120.6 billion in 2021, at a CAGR of 7.3%
Market growth is driven mainly by factors such as rising demand for generics, increasing investments in pharmaceutical R&D, and investments in advanced manufacturing technologies by CDMOs. The increasing demand for biological therapies, growing focus on specialty medicines, growth in the nuclear medicines sector, and advancements in cell and gene therapies are also expected to offer market growth opportunities in the coming years.
The small and medium-sized pharmaceutical companies segment accounted for the highest growth rate in the pharmaceutical contract development and manufacturing market, by end-user, during the forecast period
The pharmaceutical contract development and manufacturing market is segmented into big pharmaceutical companies, small & medium-sized pharmaceutical companies, generic pharmaceutical companies, and other end users. The small and medium-sized pharmaceutical companies segment accounted for the highest growth rate in the pharmaceutical contract development and manufacturing market in 2021. This segment's high growth can be attributed to the increasing number of emerging pharmaceutical companies that lack the in-house capabilities to manufacture and develop complex formulations and drug products.
Biologics manufacturing services segment accounted for the highest CAGR
Based on service, the pharmaceutical contract development and manufacturing market is segmented into pharmaceutical manufacturing, biologics manufacturing, and drug development services. In 2021, the biologics manufacturing services segment accounted for the highest growth rate. The major factor driving the growth of this segment is the growing demand for vaccines and biosimilars.
Asia Pacific: The fastest-growing country in the pharmaceutical contract development and manufacturing market
The pharmaceutical contract development and manufacturing market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is projected to register the highest CAGR during the forecast period. This growth can be attributed to factors such as growth in the manufacturing sector, favorable government regulations, growing strategic expansions from leading companies, increasing emphasis on off-patent drugs, and the presence of a highly skilled workforce.
Competitive Landscape
The prominent players in this market are Thermo Fisher Scientific Inc. (US), Catalent, Inc. (US), Lonza Group Ltd. (Switzerland), Recipharm AB (Sweden), Vetter Pharma International GMBH (Germany), FAMAR Health Care Services (France), AbbVie Inc. (US), Aenova Group (Germany), Almac Group (UK), Siegfried Holding AG (Switzerland), Boehringer Ingelheim International GmbH (Germany), and Evonik Industries AG (Germany).
Premium Insights
- Growing Demand for Generics is One of the Key Factors Driving Market Growth
- Pharmaceutical Manufacturing Services to Command the Largest Share of the European Pharmaceutical Contract Development and Manufacturing Market
- Small & Medium-Sized Pharmaceutical Companies to Grow at the Highest Rate During the Forecast Period
- Developing Markets to Register Higher Growth Rates Between 2021 & 2026
Market Dynamics
Drivers
- Patent Expiry and Increasing Demand for Generic Drugs
- Increasing Investments in Pharmaceutical R&D
- Investments in Advanced Manufacturing Technologies by Cdmos
Opportunities
- Increasing Demand for Biological Therapies
- Growth in the Nuclear Medicine Sector
- Growing Demand for Cell and Gene Therapies
Challenges
- Introduction of Serialization
Trends
- Expansion in Emerging Countries
- CDMO Industry Consolidation
Companies Mentioned
- Abbvie
- Aenova Group
- Almac Group
- Biovectra
- Boehringer Ingelheim
- Cambrex
- Catalent
- Cordenpharma
- Curia (Formerly Albany Molecular Research)
- Evonik Industries
- Famar Health Care Services
- Fujifilm Healthcare
- Lonza Group
- Piramal Pharma Solutions
- Recipharm Ab
- Samsung Biologics
- Siegfried Holding Ag
- Thermo Fisher Scientific Inc.
- Vetter Pharma International
- Wuxi Apptec (Wuxi Sta)
For more information about this report visit https://www.researchandmarkets.com/r/ajj3x3
