Pharmaceutical Contract Manufacturing Market Size to Reach USD 179.4 billion at 6% CAGR by 2030 | Market Research Future
Research Reports
Jul 17, 2023
Pharmaceutical Contract Manufacturing Market Research Report By Types (Active Pharmaceutical Ingredient (API) Manufacturing, Finished Dosage Formulation (FDF) Market)-Forecast till 2030
According to MRFR analysis, Global Pharmaceutical Contract Manufacturing market share is projected to grow from USD 119.3 Billion in 2022 to USD 179.4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6% during the forecast period (2022 – 2030). The global pharmaceutical contract manufacturing market refers to the outsourcing of pharmaceutical product manufacturing to third-party organizations, known as contract manufacturing organizations (CMOs). These CMOs provide a range of services, including formulation development, process optimization, manufacturing, packaging, and labeling of pharmaceutical products for pharmaceutical and biotechnology companies.
The global pharmaceutical contract manufacturing market is growing rapidly due to several factors, including increasing demand for cost-effective drug development and manufacturing solutions, rising R&D costs, and a focus on core competencies by pharmaceutical companies. In addition, the growing prevalence of chronic diseases and the need for specialized drug manufacturing capabilities are also contributing to the growth of the market.
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Market Segmentation
Global Pharmaceutical Contract Manufacturing market has been segmented into technology.
Technology Outlook: Active Pharmaceutical Ingredient (API) Manufacturing, Finished Dosage Formulation(FDF)
Key Players
Grifols International , S.A, Catalant , ABBVie Inc. , Boehringer Ingelheim , Lonza AG
Vetter, Pathon Inc. , Pharmaceutical Product Development
Regional Analysis
North America: North America is the largest market for pharmaceutical contract manufacturing services. The region is dominated by the United States, which has a well-developed pharmaceutical industry and a favorable regulatory environment. The increasing demand for complex drugs, growing biologics and bio similars manufacturing, and the trend of outsourcing production to third-party manufacturers are driving the growth of the pharmaceutical contract manufacturing market in North America.
Europe: Europe is the second-largest market for pharmaceutical contract manufacturing services. The region is dominated by countries such as Germany, France, and the United Kingdom. The increasing demand for cost-effective drugs, the presence of a large number of pharmaceutical companies, and the growing trend of outsourcing manufacturing to reduce costs are driving the growth of the pharmaceutical contract manufacturing market in Europe.
Asia Pacific: The Asia Pacific region is the fastest-growing market for pharmaceutical contract manufacturing services. The region is dominated by countries such as China, India, and Japan. The low labor and manufacturing costs, favorable regulatory environment, and growing investments in the pharmaceutical industry are driving the growth of the pharmaceutical contract manufacturing market in the Asia Pacific region.
Latin America: The Latin America market for pharmaceutical contract manufacturing services is growing steadily due to the increasing demand for high-quality drugs, the presence of a large number of pharmaceutical companies, and the growing trend of outsourcing manufacturing to reduce costs.
Middle East and Africa: The Middle East and Africa market for pharmaceutical contract manufacturing services is growing at a moderate pace due to the increasing demand for cost-effective drugs, the presence of a large number of pharmaceutical companies, and the growing trend of outsourcing manufacturing to reduce costs. Countries such as Saudi Arabia, South Africa, and Egypt are expected to drive the growth of the pharmaceutical contract manufacturing market in the region.
Browse In-depth Market Research Report (76 Pages) on Pharmaceutical Contract Manufacturing: https://www.marketresearchfuture.com/reports/pharmaceutical-contract-manufacturing-market-1532
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