The
global Pharmaceutical Contract Manufacturing And Research Services
Market size is expected to reach USD 395.2 billion by 2030,
according to a new report by Grand View Research, Inc. It is expected to expand
at a CAGR of 7.10% from 2023 to 2030. The rising investments in R&D,
increasing demand for generics, and the growing aging population with various
chronic diseases are responsible for market growth. However, the advent of
COVID-19 led to a temporary shutdown of research and manufacturing activities
of ancillary goods used for manufacturing drugs, which had impacted the supply chain
and is likely to have a negative impact on the market growth.
Outsourcing
allows pharmaceutical companies to focus on their core competencies such as
sales and marketing rather than manufacturing and research. This is expected to
have a positive impact on the market growth. However, the pharmaceutical
companies practicing in-house manufacturing are increasing their investments
with respect to production capabilities. This may limit the potential growth of
contract manufacturing services to traditional customers, thereby hampering
industrial growth.
The
COVID-19 pandemic has provided new opportunities for pharmaceutical contract
manufacturing and research services. Because of this pandemic, the contract
service sector has switched its focus toward manufacturing and research of
COVID-19 therapies and vaccines. For instance, in October 2020, CDMO Recipharm
formed an agreement with Arcturus Therapeutics to support the manufacturing of
its COVID-19 vaccine candidate—ARCT-021. Currently, it is in the phase 1/2
clinical trial. Similarly, in March 2022, the biotechnology company GeoVax
partnered with a CRO CATO SMS to support GeoVAX in the Phase 2 trials of the
COVID-19 Vaccine candidate GEO-CM04S1.
Related Press
Release@ Pharmaceutical Contract Manufacturing And Research Services
Market Report
List of Key Players of Pharmaceutical Contract
Manufacturing And Research Services Market
- Catalent
- Pharmaceutical
Product Development LLC
- AbbVie
- Baxter
BioPharma Solutions
- Patheon
- Grifols
International, S.A.
- Dalton
Pharma Services
- Boehringer
Ingelheim Biopharmaceuticals GmbH
- Lonza AG
Pharmaceutical Contract Manufacturing And Research
Services Market Report Highlights
- By service,
the manufacturing segment dominated the market in 2022. In this
segment, Active Pharmaceutical Ingredient (API) / bulk drugs
held the largest revenue share of over 60.0% in 2021. Pharmaceutical
companies prefer outsourcing services for API research and manufacturing
owing to the reduction in the cost of production of APIs
- In the
manufacturing service segment, finished dose formulations are expected to
register the fastest CAGR of 7.6% from 2023 to 2030
- The research
service segment is further segmented based on therapeutic area, wherein
oncology held a significant share of over 25.0% in 2021 and is anticipated
to maintain its lead in the coming years owing to the high disease burden
of cancer worldwide
- CMOs/CDMOs
with the ability to establish facilities in emerging countries are
expected to drive the market. The contract service sector is in its
infancy in countries, including Brazil, India, and China
- Companies
can position themselves for strong growth, given that demand is expected
to expand rapidly in the coming years. Increased competitiveness in the
contract service sector is anticipated to ultimately benefit the sector
growth
- China,
Japan, and India are projected to witness tremendous growth in the
forecast period owing to high disease prevalence
Related Reports@
Europe
Fill Finish Pharmaceutical Contract Manufacturing Market
Generic
Pharmaceuticals Contract Manufacturing Market
Pharmaceutical Contract Manufacturing And Research
Services Market Segmentation
Grand
View Research has segmented the global pharmaceutical contract manufacturing
and research services market based on service and region:
Pharmaceutical Contract Manufacturing And Research
Service Outlook (Revenue, USD Billion, 2018 - 2030)
- Manufacturing
- API/Bulk
Drugs
- Advanced
Drug Delivery Formulations Packaging
- Packaging
- Finished
Dose Formulations
- Solid
Formulations
- Liquid
Formulations
- Semi-solid
Formulations
- Research
- Oncology
- Vaccines
- Inflammation
& Immunology
- Cardiology
- Neuroscience
- Others
Pharmaceutical Contract Manufacturing and Research
Services Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North
America
- U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- U.K.
- Denmark
- Sweden
- Norway
- Asia Pacific
- India
- China
- Japan
- Australia
- South Korea
- Thailand
- Latin
America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Venezuela
- Middle East
& Africa
- South
Africa
- Saudi
Arabia
- UAE
- Kuwait
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-95196
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment