Global Pharmaceutical Contract Manufacturing Market Research and Forecast 2018-2023

Global Pharmaceutical Contract Manufacturing Market, Size, Share, Market Intelligence, Company Profiles, Market Trends, Strategy, Analysis, Forecast 2018-2023

The major players operating in the pharmaceutical industry consider outsourcing of the product manufacturing to contract manufacturing organizations. The contract manufacturers provide timely and cost-effective services, which in turn, enable the market players to focus on their core competencies. A pharmaceutical contract manufacturer offers comprehensive services to the clients ranging from drug development to the packaging of the products. Some of the services offered by contract manufacturers to their clients can be divided into two main categories: primary manufacturing and secondary manufacturing. The primary manufacturing mainly involves the synthesis of the bulk active pharmaceutical ingredients (API) however, the secondary manufacturing includes the formulation of bulk drug substances into the final drug products such as pills, topical formulations, and types of injectables. Major factors contributing to the growth of the global pharmaceutical contract manufacturing market include. Increasing trend of outsourcing of healthcare services. In addition, patent cliff is another significant factor contributing in the market growth. The ongoing patent expiry of many blockbuster drugs coupled with decreasing profit margins on branded drugs, is forcing most healthcare companies to outsource manufacturing to control costs. Additionally, patent cliffs have cut sales revenue of many branded medications and forced drug makers to consider outsourcing manufacturing to enable control production costs. However, stringent government regulations hinder the market growth. Moreover, rising demand for low cost services and increasing drug discovery is expected to fuel the market growth in the near future.

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The pharmaceutical contract manufacturing market can be segmented on the basis of category, type, product, route of administration, and services. On the basis of category, the market is divided as human-based drugs and animals-based drugs. Based on type, the market is segmented into sterile manufacturing and non-sterile manufacturing. Based on the product, the market is bifurcated into OTC drugs, API, finished dosage forms include solid dose, liquid dose and injectable dose, and others such as nutritional products and packaging. Based on the services, the market is sub-divided as manufacturing services, non-clinical services and research and development. Among services, manufacturing segment is expected to be the highest revenue generating segment owing to growing medical device manufacturing. The growth of medical device manufacturing in emerging economies such as the US, China, Japan and India is expected to boost the manufacturing services segment.

The global pharmaceutical contract manufacturing market is further analyzed on the basis of the geographical regions that are contributing significantly towards the growth of the market. The North America is expected to dominating the market due to increasing number of research and development in this region. The US has major share in the market due to the increasing healthcare expenditure that in turn fuels the pharmaceutical contract manufacturing market. Europe has considerable market share in the global pharmaceutical contract manufacturing market. The North American market is projected to remain dominant in the global Pharmaceutical Contract Manufacturing market over the forecast period.

Some of the key players operating in the global pharmaceutical contract manufacturing market are AbbVie Inc., Aenova Group GmbH, Aurobindo Pharma Limited, Jubilant Life Sciences Ltd., Lonza AG and several others. In order to sustain in the competitive market, these players adopt various strategies such as merger & acquisitions, expansions, joint ventures and product development and partnership and collaboration. For instance, Aenova Group in November 2017, expanded its animal-health production and develops manufacturing areas for solids veterinary pharmaceutical in Latina. In addition, in September 2017, the company expanded its site in Romania for increasing the production capacity for soft gelatin capsule. The company invested about $11.6 million for the expansion of site.

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