Pharmaceutical Contract Development and Manufacturing Market | Ongoing Trends and Recent Developments | Major Key Players like Catalent, Inc. (US), Lonza Group Ltd (Switzerland), Recipharm AB (Sweden)

The major factors driving the growth of this Pharmaceutical Contract Development and Manufacturing Market are the rising demand for generics, increasing investments in pharmaceutical R&D, and investments in advanced manufacturing technologies by CDMOs.

What the Market Looks Like?

Predicted to grow at a CAGR of 7.1% during the forecast period, the Global Pharmaceutical Contract Development and Manufacturing market is estimated to reach USD 126.6 billion by the end of 2024. The Asia Pacific region is expected to grow at the highest rate in the market in 2019

The pharmaceutical manufacturing segment is estimated to account for the largest market share in 2019. The large share of this segment can be attributed to the growing need to reduce manufacturing cost, the requirement for high-quality bulk manufacturing, growing demand for generic drugs, high cost of operations, and lack of in-house manufacturing capacity. This segment includes pharmaceutical API manufacturing and pharmaceutical FDF manufacturing.

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The biologic FDF manufacturing segment is expected to grow at the highest CAGR during the forecast period. The growth in this segment can be attributed to factors such as the increasing R&D costs, changing product pipelines, growing importance of biologics and biosimilars, and process complexity.

The big pharma end-user segment is estimated to account for the largest market share in 2019. The large share of this segment can be attributed to the emergence of new medicines and therapy forms, pricing pressure, pipeline challenges, and growth opportunities in emerging markets.

What Drives the Pharmaceutical Contract Development and Manufacturing Market?

The growth of the global market for Pharmaceutical Contract Development and Manufacturing is primarily influenced by the following factors:

• Growing Demand for Generics
• Increasing Investments in Pharmaceutical R&D
• Investments in Advanced Manufacturing Technologies by Cdmos
• Growing Focus on Specialty Medicines

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Geographical growth scenario of Pharmaceutical Contract Development and Manufacturing Market:

The APAC market is projected to register the highest growth during the forecast period. Factors such as the growth of its manufacturing sector, favorable government regulations, expansions by leading companies, increasing emphasis on off-patent drugs, and a highly skilled workforce are some of the key factors driving the growth of the market in the APAC.

Leading market players and strategies adopted:

The prominent players in the pharmaceutical contract development and manufacturing market include Thermo Fisher Scientific Inc. (US), Catalent, Inc. (US), Lonza Group Ltd (Switzerland), Recipharm AB (Sweden), Vetter Pharma International GMBH (Germany), FAMAR Health Care Services (Greece), AbbVie Inc. (US), Aenova Group (Germany), Consort Medical plc (UK), Almac Group (UK), Siegfried Holding AG (Switzerland), Boehringer Ingelheim International GmbH (Germany), and Evonik Industries AG (Germany).

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