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.
Browse XX market data Tables and XX Figures spread through XXX Pages and an in-depth TOC on “Global Pharmaceutical & Biopharmaceutical Contract Manufacturing Market”
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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