Report Overview
PRODUCT OVERVIEW
Pharmaceutical Contract Manufacturing Market size was USD 133.5 billion in 2021 and projected to grow from USD 155.0 billion in 2023 to USD 307.3 billion by 2032, exhibiting a CAGR of 7.9% during the forecast period.
Pharmaceutical Contract Manufacturing is the method by which pharmaceutical medications are made under the contract. In short, drug companies collaborate with a manufacturing business to create a necessary quantity of their service or product and expedite production. A contract development and manufacturing organization (CDMO) manages all operations starting from pre-formulation as well as formulation development to production and clinical trials, as opposed to a contract manufacturing organization (CMO), which makes pre-formulated drugs.
MARKET HIGHLIGHTS
Pharmaceutical Contract Manufacturing Market is expected to project a CAGR of 7.9% during the forecast period, 2022-2032
Pharmaceutical Contract Manufacturing market is expected to reach USD 307.3 billion, growing at a CAGR of 7.9% during the forecast period owing to factors like increasing research activities as well as investments in generic medications. Moreover, the significant price of in-house drug development and the regulatory filling support offered by CDMOs are propelling the expansion of the market.
PHARMACEUTICAL CONTRACT MANUFACTURING MARKET SEGMENTATION:
Pharmaceutical Manufacturing Services segment is expected to dominate in the forecast period
Pharmaceutical Contract Manufacturing Market is classified based on the Service into Pharmaceutical Manufacturing Services, Pharmaceutical API Manufacturing Services, Pharmaceutical FDF Manufacturing Services, Drug Development Services, Biologic Manufacturing Services, Biologic API Manufacturing Services, and Biologic FDF Manufacturing Services. The Pharmaceutical Manufacturing Services segment held the majority share of the market in the past years. The expanding pharmaceutical and biopharmaceutical industries worldwide along with the growing need for biologics and biosimilars are some of the contributing factors to the growth.
Big Pharmaceutical Companies segment is expected to dominate in the forecast period
Pharmaceutical Contract Manufacturing Market is classified based on the End User into Big Pharmaceutical Companies, Small & Mid-Sized Pharmaceutical Companies, Generic Pharmaceutical Companies, and Other End Users (Academic Institutes, Small CDMOs, and CROs). Over the forecast period, the Big Pharmaceutical Companies category is anticipated to register the highest CAGR. The market is expected to grow on the back of greater investment in the development of cell & gene therapies, increasing demand for targeted medication therapies, and an increase in the number of biologics now undergoing pipeline investigations.
MARKET DYNAMICS:
Growth Drivers
Increasing Cases of Chronic Disorders worldwide is Expected to Boost the Market Growth
The rising prevalence of chronic diseases among the world's population as well as the steadily growing human population are the key factors affecting the expansion of the pharmaceutical contract manufacturing market in the years to come. The need for improved production capacity in the pharmaceuticals industry is driven by the increase in different types of chronic illnesses including cardiovascular disease, cancer, and infectious diseases. The demand dynamics in the pharmaceutical contract manufacturing market are also boosted by this trend.
Growing Research & Development in Pharmaceutical Manufacturing is Expected to Boost the Market Growth
Growing pharmaceutical manufacturing research and development is significantly influencing market expansion. The rising cost of healthcare as well as various strategic alliances and collaborations among the players in the pharmaceutical and healthcare industries are some other key factors impacting the pharmaceutical contract manufacturing market.
Restraint
Strict Government Regulatory Orders and their Controls to Restrain the Market Growth
The severe government regulatory frameworks and associated restrictions, as well as ongoing enhancements in the stringent policies and rules imposed by governments of growing nations, impede the expansion of the pharmaceutical contract manufacturing industry. Gene and cell therapies can also address unmet medical needs in the treatment of several illnesses or diseases due to their highly personalized nature. Owing to high therapeutic promise of these medications, numerous investors and pharmaceutical companies have committed significant financial resources to their development and marketing.
RECENT DEVELOPMENTS:
- Pfizer Inc., a US multinational pharmaceutical and biotechnology establishment, said in November 2021 that it had acquired Trillium Therapeutics, an immuno-oncology business in the clinical stages of researching novel cancer medicines.
- Recipharm AB (Sweden), a prominent contract development and manufacturing firm, announced the purchase of Arranta Bio in February 2022. The purchase of Arranta Bio is intended to provide cutting-edge drug developers in the biologics sector with scientifically superior contract manufacturing and development services for pharmaceuticals used in advanced therapies.
PHARMACEUTICAL CONTRACT MANUFACTURING MARKET
Key Players Covered:
- Thermo Fisher Scientific
- CR Pharmaceutical Group
- Boehringer Ingelheim Group
- AbbVie Contract Manufacturing
- WuXi App Tech.
- Dr. Reddy's Laboratories
- Lonza Group
- Catalent
- Recípharm AB
- The Almac Group
- Curia Global
- Cambrex Corporation
- Carlyle Group
- Aenova Group GmbH
- Pfizer CentreOne
- Other Prominent Players
(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
REGIONAL ANALYSIS
Pharmaceutical Contract Manufacturing Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America held the highest market share in 2021, followed by Asia-Pacific and Europe region. The huge market share of North America is the result of a variety of reasons, including the existence of a sizable number of pharmaceutical firms and the rising demand for generic medications. Also, the North American pharmaceutical market is expanding due to expanded research funding for pharmaceutical contract manufacturing and development.
IMPACT OF COVID-19 ON PHARMACEUTICAL CONTRACT MANUFACTURING MARKET
The entry of coronavirus-related vaccines, rising antiviral vaccines, rising antibody therapies, and a variety of pharmaceutical products during the forecast period had a positive effect on the pharmaceutical contract manufacturing market. To preserve their long-term viability, pharmaceutical businesses are encouraged to outsource pharmaceutical production and drug development to contract development and manufacturing businesses.
Pharmaceutical Contract Manufacturing Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
PHARMACEUTICAL CONTRACT MANUFACTURING MARKET SCOPE AND SEGMENTS:
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 7.9% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
|
Molecule Type |
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Service |
|
|
End User |
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By Region |
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Frequently Asked Questions (FAQ):
Pharmaceutical Contract Manufacturing Market size was estimated at USD 133.5 billion in 2021 and is expected to reach USD 307.3 billion in 2032.
Pharmaceutical Contract Manufacturing is the method by which pharmaceutical medications are made under the contract. In short, drug companies collaborate with a manufacturing business to create a necessary quantity of their service or product and expedite production.
Pharmaceutical Manufacturing Services and Big Pharmaceutical Companies segments accounted for the largest Pharmaceutical Contract Manufacturing market share.
Key players: Thermo Fisher Scientific, CR Pharmaceutical Group, Boehringer Ingelheim Group, AbbVie Contract Manufacturing, WuXi App Tech., Dr. Reddy's Laboratories, Lonza Group, Catalent, RecÃpharm AB, The Almac Group, Curia Global, Cambrex Corporation, Carlyle Group, Aenova Group GmbH, Pfizer CentreOne, and Other Prominent Players are the key players in the Pharmaceutical Contract Manufacturing Market.
Growth in the global pharmaceutical contract manufacturing market is fuelled by rising pharmaceutical research and development spending, increased generics demand, and contract manufacturing and research services investments in mature manufacturing technologies.
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