US Pharmaceutical Contract Manufacturing Market Research and Forecast 2018-2023
A full report description of US Pharmaceutical Contract Manufacturing Market Research and Forecast 2018-2023 at https://www.omrglobal.com/industry-reports/us-pharmaceutical-contract-manufacturing-market
A large number of branded pharmaceuticals have moved towards maturity and late growth stages in the product life cycle. Hence, utilization levels of these plants are likely to grow to unsustainable levels. This makes outsourcing a viable option for many pharmaceutical companies operating in the region. There are several major players in the market, which include Thermo Fisher Scientific, Inc., Catalent, Inc., Pfizer CenterOne, Baxter International, Inc., and AbbVie, Inc. Apart from these, various small players are operating in the market that are offering API, drug formulation, and other drug development and manufacturing services to pharmaceutical companies.
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For instance, Lief Organics and Paragon Laboratories are working as a contract manufacturer in finished dosage formulation. In addition, AbbVie, Inc. and Cambrex Corp. are offering contract manufacturing service for API. Therefore, the US pharmaceutical contract manufacturing market is highly diversified due to the presence of several small and large players that are offering different kinds of pharmaceutical manufacturing services.
Mergers and acquisitions are key strategies adopted by market players operating in the US pharmaceutical contract manufacturing industry
The companies providing pharmaceutical products and services in the US are actively seeking mergers and acquisitions as a key strategy over the last decades. Through mergers and acquisitions, a company can reduce the impact of a particular industry’s performance on its profitability. The companies seeking mergers and acquisitions often merge with companies that have deeper market penetration and expertise in a particular area of operation. This enables the company to have a strong foothold in that particular area and to strengthen its revenue stream.
Significant mergers and acquisitions have been observed in the US pharmaceutical contract manufacturing market over the decades. For instance, in August 2017, Thermo Fisher Scientific Inc. acquired Patheon N.V., a CDMO for nearly $7.2 billion that serves the biotechnology and pharmaceutical sectors. This acquisition would enable the company to expand its contract manufacturing service for biotech and pharmaceutical firms. Moreover, in April 2019, Catalent, Inc. acquired Paragon Bioservices, Inc. for $1.2 billion. Paragon is a CDMO engaged in the development and production of biopharmaceuticals. This acquisition will enable to fundamentally increase the biologics business of Catalent and its end-to-end integrated biopharmaceutical solutions for customers.
Current Market Trends Covered in the US Pharmaceutical Contract Manufacturing Market Report
• Based on the category, the human-based drugs segment is estimated to hold a dominating market share during the forecast period.
• Based on the product, API held the largest market share in the US pharmaceutical contract manufacturing market in 2018.
• Based on the services, manufacturing services held the largest market share in the US pharmaceutical contract manufacturing market in 2018.
US Pharmaceutical Contract Manufacturing Market Segmentation
• Animal-based Drugs
• Human-based Drugs
• Active Pharmaceutical Ingredient
• OTC Drugs
• Manufacturing Services
• Non-Clinical Services
Key Players of Pharmaceutical Contract Manufacturing Market Report are:
• Teva Pharmaceuticals
• Piramal Pharma Solutions
• Reddy’s Laboratories
• Abbott Laboratories
• Sun Pharmaceutical
• Cobra Biologics
• Ranbaxy Laboratories
• Cytovance Biologics
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Contact Person: Mr. AnuragTiwari
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Source: US Pharmaceutical Contract Manufacturing Market
About Orion Market Research
Orion Market Research (OMR) is an Indian market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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