(MENAFN- GlobeNewsWire - Nasdaq) Pharmaceutical contract development and manufacturing firms provide a range of services to small and large pharmaceutical enterprises under a contract.Westford, USA, Nov. 27, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that pharmaceutical contract development and manufacturing market size will attain the value of USD 222.87 Billion by 2031, with a CAGR of 6.9% during the forecast period (2024-2031). The market is expanding rapidly due to mounting pressure on key players, challenges in market growth, difficulties in the pharmaceutical industry's development process, an increasing number of patents expiring and an increase in the prevalence of chronic diseases. Governments around the world are placing more emphasis on improving the quality of life for the geriatric population, which is leading to an increase in geriatric drug clinical trials, increased attention to domestic active API manufacturers even in developed nations, and the establishment of contract manufacturing organizations (CMOs) in emerging economies. In the coming years, these trends are most likely to drive demand in the global market. In addition, increasing demand from the oncology sector is driving the expansion of pharmaceutical contract development and manufacturing industry globally.
Request your free sample PDF of the report today :
Browse in-depth TOC on "Pharmaceutical Contract Development and Manufacturing Market "
Pages – 242 Tables - 63 Figures – 75
Pharmaceutical Contract Development and Manufacturing Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 122.25 Billion |
| Estimated Value by 2031 | USD 222.87 Billion |
| Growth Rate | Poised to grow at a CAGR of 6.9% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Service, End user and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Increasing Number of Patents Expiring |
| Key Market Opportunities | Expansion in Emerging Markets and Rising Focus on Specialty Drugs |
| Key Market Drivers | Increase in the Prevalence of Chronic Diseases |
Pharmaceutical Contract Development and Manufacturing Market Segmental Analysis
Base on service, The pharmaceutical contract development and manufacturing market is anticipated to be dominated by the pharmaceutical manufacturing services segment in 2022. The huge market share of this sector is related to the expanding need for the industry to lower manufacturing costs, the expanding demand for high-quality bulk manufacturing, and the expanding need for generic medications. However, it is anticipated that during the projected period, the category for biologics manufacturing services will develop at the highest CAGR.
Base on end user , Large firms, small & mid-size companies, and generic pharmaceutical companies make up the three segments of the industry based on end users. The market is anticipated to be dominated by large companies in 2022. The significant market share of this sector is linked to the rising global demand from businesses, the growing demand for cutting-edge production techniques and technologies, and the pharmaceutical industry's ongoing efforts to cut production costs.
Pharmaceutical Manufacture Segment to Dominate Due to Expanding Relevance of Quality Dosage
As per the pharmaceutical contract development and manufacturing market outlook, the market is expected to be dominated by the pharmaceutical manufacture segment in 2023. The largest market share in this segment is related to the expanding need of industry to reduce operating costs and the demand for the expanding relevance of quality dosage.
For a tailored report, contact us to request a free customization :
Small and Mid-size Pharmaceutical Companies Segment is Growing Due to Rising Investments in Niche and Specialty Drugs
Small and mid-size pharmaceutical companies are the fastest growing segment in the market as they increasingly rely on outsourcing to access advanced technologies and large-scale manufacturing capabilities they lack. CDMOs enable these companies to bring products to market without incurring significant infrastructure costs, fostering innovation in niche and specialty segments.
North America is Dominating Due to Expanding Demand for Generic Medicine and Biologics
The pharmaceutical contract development and manufacturing market is anticipated to be dominated by the North America region. This region's largest segment is primarily driven by the expanding demand for generic medicine and biologics, CDMO consolidation and rising need for biosimilars due to patent expiry. Furthermore, the focus on pharmaceutical and biotechnology research by organizations has made the contract manufacturing business in North America extremely competitive.
Drivers
Growing Demand for Outsourcing Pharmaceutical Manufacturing Rising Biopharmaceutical and Biosimilar Production Advancements in Drug Delivery Technologies
Restraints
High Initial Investment and Operational Costs Stringent Regulatory Requirements Supply Chain Disruptions
Prominent Players in Pharmaceutical Contract Development and Manufacturing Market
Catalent Patheon Lonza Group AG Thermo Fisher Scientific, Inc. Boehringer Ingelheim GmbH Evonik Industries AG Recipharm AB Vetter Pharma International GmbH WuXi AppTec Co. Ltd. Famar Health Care Services Almac Group Jubilant Life Sciences Limited Samsung BioLogics PRA Health Sciences Cambrex Corporation Ajinomoto Bio-Pharma Services Syneos Health Mylan N.V. AMRI Global Baxter BioPharma Solutions
Purchase now to gain valuable insights and stay informed :
Key Questions Answered in Pharmaceutical Contract Development and Manufacturing Market Report
Which region has the biggest share in the market? Who are the key players in the market? Which is the fastest growing region in the market? What are the key restraints of the market?
This report provides the following insights:
Analysis of key drivers (growing demand for outsourcing pharmaceutical manufacturing), restraints (high initial investment and operational costs), opportunities (expansion in emerging markets and rising focus on specialty drugs) influencing the growth of pharmaceutical contract development and manufacturing market.
Market Dynamics : Comprehensive information about the various products offered by the dominant players in the pharmaceutical contract development and manufacturing market. Product Development/Innovation : An overview of emerging trends, R&D activities and product launches in the pharmaceutical contract development and manufacturing market. Market Growth : Detailed information on profitable growing industries. Market Trends : Complete information about new products, emerging geographical areas and recent developments in the market. Competitive Analysis : An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players
To read the full report, please visit:
Related Reports:
Medical Terminology Software Market Set to Grow at 19.4% CAGR Through 2031
Light Therapy Market Set to Grow at 4.6% CAGR Through 2031
Biological Safety Cabinet Market Set to Grow at 8.30% CAGR Through 2031
Fitness Tracker Market Set to Grow at 6.60% CAGR Through 2031
Therapeutic Vaccines Market Set to Grow at 10.5% CAGR Through 2031
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: ...
Visit Our Website:
MENAFN27112024004107003653ID1108931712
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.