Pharmaceutical & Biopharmaceutical Contract Manufacturing Market to Witness Substantial Growth until 2025
Growing demand for generic
medicines and biologics as well as increasing investments in pharmaceutical
R&D activities to drive global pharmaceutical & biopharmaceutical
contract manufacturing market
According
to TechSci Research report, “Global Pharmaceutical & Biopharmaceutical
Contract Manufacturing Market
By Sector (Pharmaceutical, Biopharmaceutical), By Product Type (Active
Pharmaceutical Ingredients (API), Finished Dosage Formulation (Tablet, Capsule,
Oral Liquids, Parenteral/Injectables, Others), Advanced Drug Delivery Products,
Over the Counter (OTC) Medicines, Others), By Service (Pharmaceutical
Manufacturing Services (Pharmaceutical API Manufacturing Services,
Pharmaceutical FDF Manufacturing Services), Biologics Manufacturing Services
(Biologics FDF Manufacturing Services, Biologics API Manufacturing Services),
Drug Development Services), By Drug Type (Originator / Patented, Generics,
Biosimilar), By Region, Forecast & Opportunities, 2025”, the market
is anticipated to register significant growth during the forecast period owing
to various factors such as rising demand for generic medicines and increasing investments
in advanced manufacturing technologies by Contract Development &
Manufacturing Organizations (CDMOs). Further, the increasing demand for biological
therapies and growing focus on specialty medicines are some other key factors
driving the growth of global pharmaceutical & biopharmaceutical contract
manufacturing market.
Additionally, growth in nuclear medicine sector and
increasing investments in research and development activities by pharma companies
is expected to fuel the growth of global pharmaceutical & biopharmaceutical
contract manufacturing market in coming years. Also, advancement in cell and
gene therapies is expected to offer significant growth opportunity for
pharmaceutical & biopharmaceutical contract manufacturing market during the
forecast period.
However, the global pharmaceutical &
biopharmaceutical contract manufacturing market might also face some
challenges. Stringent regulatory requirements for pharmaceutical &
biopharmaceutical contract manufacturing might pose as a hindrance for market
growth. Also, high logistic cost might act as major restraining factor for the
overall growth of global pharmaceutical & biopharmaceutical contract
manufacturing market.
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The global pharmaceutical
& biopharmaceutical contract manufacturing market is segmented based on sector,
product type, service, drug type and region. Based on sector, the market is
segmented into pharmaceutical and biopharmaceutical. The pharmaceutical
contract manufacturing market dominated the global market in 2019 owing to
growing demand for generic medicines and increasing need to reduce
manufacturing cost by pharma companies, Intensive research and development
activities are further expected to boost the growth of pharmaceutical contract
manufacturing market during the forecast period.
Based
on product type, the global pharmaceutical & biopharmaceutical contract
manufacturing market is segmented into Active Pharmaceutical Ingredients (API),
finished dosage formulation (tablet, capsule, oral liquids,
parenteral/injectables, others), advanced drug delivery products, Over The
Counter (OTC) Medicines, nutritional products and others. Among these, the API
segment is anticipated to witness high growth during the forecast period due to
the rising prevalence of cancer and other age-related diseases. This has
resulted in huge demand for generic medicines, owing to which, the API segment
is expected to dominate the market in the coming years.
Major players operating in the global pharmaceutical
& biopharmaceutical contract manufacturing market include Jubilant Life
Sciences Ltd, Catalent Inc., Integer Holdings Corp., Tecomet INC, West
Pharmaceutical Services, Inc., Flex Ltd., Plexus Corp., Sanmina Corp., Patheon
Inc., Cantel Medical Corp., Jabil, Inc., Pfizer Centresource, Angiplast Pvt.
Ltd., Baxter Biopharma Solutions, Boehringer Ingelheim, Recipharm AB, Aesica
Pharmaceuticals, Fareva Group, Vetter Pharma International and Synecco Ltd. The
market is highly competitive and hence the leading companies are undertaking
strategic collaborative initiatives to increase their profit share and market
reach.
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“Asia
Pacific is expected to be the biggest market for pharmaceutical &
biopharmaceutical contract manufacturing in the coming years owing to the
region’s growing manufacturing sector and favorable regulations offered by
governments. Countries such as China and India have highly skilled workforce,
which is making Asia Pacific an ideal hub for outsourcing of pharmaceutical
contract development and manufacturing,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Pharmaceutical & Biopharmaceutical
Contract Manufacturing Market By Sector (Pharmaceutical, Biopharmaceutical), By
Product Type (Active Pharmaceutical Ingredients (API), Finished Dosage
Formulation (Tablet, Capsule, Oral Liquids, Parenteral/Injectables, Others),
Advanced Drug Delivery Products, Over the Counter (OTC) Medicines, Others), By Service
(Pharmaceutical Manufacturing Services (Pharmaceutical API Manufacturing
Services, Pharmaceutical FDF Manufacturing Services), Biologics Manufacturing
Services (Biologics FDF Manufacturing Services, Biologics API Manufacturing
Services), Drug Development Services), By Drug Type (Originator / Patented,
Generics, Biosimilar), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global pharmaceutical
& biopharmaceutical contract manufacturing market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in global pharmaceutical & biopharmaceutical contract manufacturing
market.
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