Global Pharmaceutical Contract Manufacturing Market - Trends and Forecasts (2015 - 2020)
The Global Pharmaceutical Contract Manufacturing market was valued at USD 58 billion in 2014 and is projected to reach USD 84 billion in 2020, at a compound annual growth rate of 6.4% over the six year forecast period. Contract manufacturing refers to outsourcing of certain production activities to third party vendors. The pharmaceutical contract manufacturers are given the chemical formula of the drug to be manufactured by the pharmaceutical company. This market is witnessing high growth as the pharmaceutical companies are focusing more on R&D of the drugs instead of manufacturing the formulated drug to stay competitive in the market.
The companies in the upstream industry are undergoing restructuring so as to focus more on R&D, while stringent regulations on the pharmaceutical industry are compelling the companies to outsource the manufacturing of the drugs to contract manufacturers and focus on their core business processes.
Growing innovative drugs and increasing investments in R&D are some of the factors augmenting the growth of the market. However, some of the key impediments hindering the growth of the market are In-house packaging, capacity utilization issues affecting the profitability of CMOs and increasing lead time & logistics costs.
The market for global pharmaceutical contract manufacturing by type has been broadly segmented into active pharmaceutical ingredient (API) manufacturing, finished dosage formulation (FDF) development & manufacturing (sub-segmented further into solid dose formulation, liquid dose formulation & injectable dose formulation) and secondary market.
The market has also been geographically segmented into North America (United States and Canada), Europe (United Kingdom, Germany, France, Italy and Others), Asia-Pacific (China, India, Japan, Australia and Others), Latin America (Brazil, Mexico, Argentina and Others) and Middle East and Africa (United Arab Emirates, Saudi Arabia, South Africa, Nigeria and Others).
By dose formulation type, solid dose formulation constituted more than 40% of the overall pharmaceutical contract manufacturing market in 2014, attributing to lower cost of manufacturing, patent compliance and ease of maintenance. The segment is expected to grow at a CAGR of 3.66% over the forecast period, while injectable dose segment, will register highest CAGR of 12.37% over the next five years.
In 2014, the U.S. was the major market for pharmaceutical contract manufacturing, while India is estimated to be the fastest growing market owing to its cost competitiveness and quality manufacturing capabilities. Pharmaceutical companies are opting for less number of vendors to take volume advantage and at the same time, reduce logistics costs. They are increasingly relying on contract manufacturing, research, and packaging services to fulfill their basic needs and specialized competencies. The companies are striving to minimize costs and reduce the product development time, while at the same time being productive and efficient.
Huge demand for next-generation biological therapies has opened gateway of opportunities for the vendors/manufacturers across the globe. Some of the major companies mentioned in the report are Famar, Recipharm, Jubilant, Vetter, Pfizer Central Source, Aenova, Catalent and Haupt Pharma among others.
Key Deliverables in the Study
1. Market analysis for the global pharmaceutical contract manufacturing market, with region specific assessments and competition analysis on global and regional scales
2. Market definition along with the identification of key drivers and restraints
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affect the global pharmaceutical contract manufacturing market on both global and regional scales
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
PDF E-mail From Publisher
Multi User License (2-5 Users) Fulfilled by Publisher