Dublin, April 28, 2023 (GLOBE NEWSWIRE) -- The "Global Pharmaceutical Contract Manufacturing Market by Service (Pharmaceutical (API, FDF - Tablet, Capsule, Injectable)), Biologic (API, FDF), Drug Development), End User (Big Pharma, Small & Medium-sized Pharma, Generic Pharma) - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global pharmaceutical contract development and manufacturing market size is projected to reach USD 258.3 billion by 2028 from USD 176.5 billion in 2023, at a CAGR of 7.9% during the forecast period.
Factors such as increasing demand for generics due to their low cost and the looming patent expiry of blockbuster medications have pushed companies to focus on core functions, supporting the demand for CDMO services, and driving the market growth at a faster pace.
The biologic manufacturing service segment is likely to grow at the highest CAGR during the forecast period of 2023-2028.
On the basis of service, the pharmaceutical contract development and manufacturing market is segmented into pharmaceutical manufacturing service, drug development service, and biologic manufacturing service. The biologic manufacturing service segment is projected to grow at the highest CAGR during the forecast period. The growth is attributed to the rising demand for biologics, targeted drug therapies, and increase in the number cell & gene therapy pipeline studies. These factors are likely to have a positive impact on segmental growth.
The big pharmaceutical companies segment is likely to grow at the highest CAGR during the forecast period of 2023-2028.
Based on end user, the pharmaceutical contract development and manufacturing market is segmented into big pharmaceutical companies, small and midsized pharmaceutical companies, generic pharmaceutical companies, and other end users (Academic Institutes, Small CDMOs, and CROs). The big pharmaceutical companies segment held a dominant share of the pharmaceutical contract development and manufacturing market, in 2022. The large share of this segment is attributed to the growing focus of pharma giants on core activities like increasing R&D for the discovery & development of new molecules, pushing them to outsource the manufacturing services. This is one of the major factors anticipated to project market growth.
Asia Pacific region is likely to grow at a faster pace.
The pharmaceutical contract development and manufacturing market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America accounted for the dominant share of the pharmaceutical contract development and manufacturing market.
The dominance of the region is attributable to various factors such as the presence of leading players in the region coupled with the ongoing research activities of pharmaceutical contract development and manufacturing. Asia Pacific region is likely to grow at a faster pace owing to various factors such as the growing awareness of personalized therapeutics, rising government initiatives for generic medicines in the region, and the emergence of new market players in the pharmaceutical contract development and manufacturing market.
Market Dynamics
Drivers
- Increased Investment in Precision Medicines
- Patent Expiry & Increasing Demand for Generic Drugs
- High Cost of In-House Drug Development
- Investments in Advanced Manufacturing Technologies by Cdmos
Restraints
- Varying Regulatory Requirements Across Regions
Opportunities
- Rising Demand for Cell & Gene Therapy
- Growing Inclination Toward One-Stop-Shop Model
- Market Expansion in Emerging Countries
- Growth of Nuclear Medicine
Challenges
- Introduction of Serialization
- Intellectual Property Risk
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 279 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $176.5 Billion |
| Forecasted Market Value (USD) by 2028 | $258.3 Billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Pharmaceutical Contract Manufacturing Market, by Service
6.1 Introduction
6.2 Pharmaceutical Manufacturing Services
6.2.1 Pharmaceutical API Manufacturing Services
6.2.1.1 Need to Focus on Core Areas to Drive Pharma Companies to Outsource API Manufacturing
6.2.2 Pharmaceutical Fdf Manufacturing Services
6.2.2.1 Parenteral/Injectable Manufacturing Services
6.2.2.1.1 Increasing Investments in Drug Development to Support Market Growth
6.2.2.2 Tablet Manufacturing Services
6.2.2.2.1 Growing Production Capacity for Tablet Manufacturing in Emerging Markets to Support Growth
6.2.2.3 Capsule Manufacturing Services
6.2.2.3.1 Popularity of Capsules to Ensure Demand for Contract Manufacturing
6.2.2.4 Oral Liquid Manufacturing Services
6.2.2.4.1 Complexities in Handling Liquids to Promote Outsourcing
6.2.2.5 Semi-Solid Manufacturing Services
6.2.2.5.1 Need for Specialized Facilities to Boost Outsourcing of Semi-Solid Manufacturing
6.2.2.6 Other Fdf Manufacturing Services
6.3 Drug Development Services
6.3.1 High Cost of Development to Boost Outsourcing
6.4 Biologic Manufacturing Services
6.4.1 Biologic API Manufacturing Services
6.4.1.1 Rising Interest in Biologics to Ensure Growth of Nascent Contract Manufacturing Sector
6.4.2 Biologic Fdf Manufacturing Services
6.4.2.1 Growing R&D Costs and Process Complexity to Favor Contract Manufacturing
7 Pharmaceutical Contract Manufacturing Market, by End-user
7.1 Introduction
7.2 Big Pharmaceutical Companies
7.2.1 Emergence of New Medicines and Therapies to Contribute to Market Growth
7.3 Small & Medium-Sized Pharmaceutical Companies
7.3.1 Growing Development of Biologics and High Pricing Pressure to Boost Market
7.4 Generic Pharmaceutical Companies
7.4.1 Rising Demand for Generics to Propel Market
7.5 Other End-users
8 Pharmaceutical Contract Manufacturing Market, by Region
9 Competitive Landscape
10 Company Profiles
11 Appendix
Companies Mentioned
- Abbvie, Inc.
- Almac Group
- Boehringer Ingelheim International GmbH
- Cambrex Corporation
- Catalent, Inc.
- Charles River Laboratories
- Curia Global, Inc.
- Delpharm Holdings
- Eurofins Scientific
- Evonik Industries AG
- Famar Healthcare Services
- Fujifilm Holdings Corporation
- Lannett Company, Inc.
- Lonza Group
- Pci Pharma Services
- Piramal Pharma Solutions
- Recipharm Ab
- Sai Life Sciences Limited
- Samsung Biologics
- Siegfried Holding AG
- Syngene International Limited (Biocon Limited)
- Thermo Fisher Scientific, Inc.
- Vetter Pharma
- Wuxi Apptec
- Yuhan Corporation
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