New Jersey, NJ, Sept. 30, 2019 (GLOBE NEWSWIRE) -- The increasing subcontracting volume by big pharmaceutical companies, expansion in the service offering of complementary metal–oxide–semiconductor (CMOS), and advent of contract development & manufacturing organization (CDMO) model into the market, and growing investment in R&D are the major trends for the demand of the market. The global pharmaceutical contract manufacturing market is expected to grow from USD 92.83 billion in 2017 to USD 150.82 billion by 2025 at a CAGR of 5.35% during the forecast period from 2018-2025, according to the new report published by Fior Markets.
The demand for generic medicines and biologics, capital-intensive nature of the business, and complex manufacturing requirements is growing day-by-day. This has increased the focus of many pharmaceutical businesses to gain profitability in contracting with a CMO (contract manufacturing outsourcing). Pharmaceutical companies are relying on contract manufacturing and packaging services to meet their fundamental needs and specified competencies, along with accomplishing stringent regulations. For instance, Recipharm, a leading contract development and manufacturing organization (CDMO) signed a contract with Kancera, a development company focused on cancer therapy for the development and manufacture of the pharmaceutical candidate, named as KAND567.
The increasing subcontracting volume by big pharmaceutical companies, expansion in the service offering of complementary metal–oxide–semiconductor (CMOS), and advent of contract development & manufacturing organization (CDMO) model into the market are the key driving factors for the pharmaceutical contract manufacturing market. In addition, growing investment in R&D will lead to the growth of pharmaceutical contract manufacturing market in a couple of years. The increasing lead time and logistics costs and stringent regulatory requirements may limit the growth of market. Increasing demand for next-generation biological therapies is expected to boost the pharmaceutical contract manufacturing market over the forecast period.
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Key players operating in the global pharmaceutical contract manufacturing market are Jubilant Life Sciences Ltd, Catalent Inc., Recipharm AB, Patheon Inc., Boehringer Ingelheim, Pfizer Centresource, Baxter Biopharma Solutions, Aenova, Famar, Lonza, Aesica Pharmaceuticals, Mylan, Vetter Pharma International, Fareva Group. The Patheon, Catalent, Lonza, Evonik Industries, Boehringer Ingelheim are the top leading players of the market. In order to enhance their market position in the global pharmaceutical contract manufacturing market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership..
- For instance in 2018, Kangstem Biotech has selected Orgenesis subsidiary, MaSTherCell, as its contract manufacturing partner for the European clinical trial of Furestem-AD. Through this partnership, Kangstem gains access to MaSTherCell’s cell therapy manufacturing expertise, capabilities, and new commercial Agility-by-Design facility.
- For instance in 2017, Catalent Inc. acquired Cook Pharmica LLC. This acquisition strengthened Catalent’s position in biologics development and analytical services and also complements capabilities and expertise in biologic drug development programs.
Active pharmaceutical ingredients (API) segment valued around UDS 25.19 billion in 2017.
Product segment covers active pharmaceutical ingredients (API), finished dosage formulations (FDF), advanced drug delivery products, over the counter (OTC) medicines and nutritional products, and others. The finished dosage formulations segment is further divided into tablet, capsule, oral liquids, parenteral/injectables, and others. Active pharmaceutical ingredients (API) segment dominated the global pharmaceutical contract manufacturing market and valued around USD 25.19 billion in 2017 due to strong surge in demand especially in generics sector.
Pharmaceutical segment held market share of 57.23% in 2017.
Application segment includes pharmaceutical and biopharmaceutical. The pharmaceutical segment in global pharmaceutical contract manufacturing market held the market share of 57.23% in 2017. The pharmaceutical companies gaining potential profitability in contracting with a CMO (contract manufacturing outsourcing) for both clinical and commercial stage manufacturing has increased the market for the pharmaceutical segment in pharmaceutical contract manufacturing market.
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Sterile segment is anticipated to grow with the highest CAGR 7.01% during the forecast period.
End user segment includes sterile and non-sterile. Sterile segment is anticipated to grow with the highest CAGR 7.01% during the forecast period owing to investments in R&D. The sterile is free from bacteria or other living microorganisms which is effective and safe to use in pharmaceutical applications.
Regional Segment Analysis of the Pharmaceutical Contract Manufacturing Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region held the largest market share of approximately 38.44% in 2017 where as the Asia Pacific region held the second dominant position in the global pharmaceutical contract manufacturing market. The increasing research activities by biotechnology companies and the rising demand for generics are some of the factors that led to the growth of pharmaceutical contract manufacturing market in North America region. Asia Pacific region is anticipated to grow with the highest CAGR of 7.11% over the forecast period due to the improving healthcare infrastructure, increasing number of companies are setting up manufacturing facilities in the emerging countries, and increasing favourable government initiatives.
About the report:
The global pharmaceutical contract manufacturing market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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