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DUBLIN--(BUSINESS WIRE)--Nov 1, 2022--
The "Global Pharmaceutical Contract Manufacturing Market Research and Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The global market for pharmaceutical contract manufacturing is projected to have a considerable CAGR of around 6.9% during the forecast period. All pharmaceutical companies operate as outsourcing companies, dealing with the development and manufacturing of drugs, which leads to business scalability and revenue, which allows for the development of new drugs. The growing need for state-of-the-art processes and production technologies, which have proven highly effective in meeting regulatory requirements, is the most important factor driving the growth of CMOs in the pharmaceutical industry.
The increasing number of cell therapy candidates, combined with their steady growth through the various stages of clinical development and their complicated manufacturing process, drives up demand for manufacturing services for these therapies. Therefore, this factor creates an opportunity for market growth. However, the dynamic changes seen in this sector, combined with extreme margin pressure, are expected to restrict growth significantly.
Segmental Outlook
The global pharmaceutical contract manufacturing market is segmented based on category, type, product and service. Based on the category the market is further classified into human-based drugs and animals-based drugs. On the basis of type, the market is further segregated into sterile manufacturing and non-sterile manufacturing. Further on the basis of product, the market is classified into over-the-counter (OTC) drugs, active pharmaceutical ingredients (API), finished dosage formulation and others (nutritional products and packaging) and based on services the market is segmented into manufacturing services, non-clinical services, and research & development.
Global Pharmaceutical Contract Manufacturing Market to be driven by active pharmaceutical ingredients (API).
Among products, the active pharmaceutical ingredients (API), the segment is projected to hold a considerable share in the market owing to factors such as the rising prevalence of chronic diseases including cardiovascular diseases and cancer and increasing advancements in active pharmaceutical ingredient (API) manufacturing. The API segment is experiencing significant changes as a result of the supply chain disruption caused by COVID-19.
Due to geopolitical situations and the desire to reduce dependence on China for API products, countries such as India are being preferred over China for API export. Furthermore, pharmaceutical firms benefit from API production outsourcing because it eliminates the need for costly manufacturing unit installation and labor force. However, unfavorable drug pricing policies in various countries, as well as high manufacturing costs, are expected to restrain the segment growth.
The Report Covers
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Determinants
5. Market Segmentation
6. Regional Analysis
7. Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/mn7gme
View source version on businesswire.com:https://www.businesswire.com/news/home/20221101006184/en/
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KEYWORD:
INDUSTRY KEYWORD: PHARMACEUTICAL HEALTH OTHER MANUFACTURING MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/01/2022 01:36 PM/DISC: 11/01/2022 01:36 PM
http://www.businesswire.com/news/home/20221101006184/en