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Pharmaceutical Contract Development and Manufacturing Market Worth $134.2 billion by 2027 - Exclusive Report by Meticulous Research®
According to a new market research report "Pharmaceutical Contract Development and Manufacturing Market by Service [Pharmaceutical Contract Manufacturing, (API, FDF), Drug Development Services, Biologics (API, FDF)], End User [Big Pharmaceutical Companies, Generic Pharmaceutical) - Global Forecast to 2027", published by Meticulous Research®, the pharmaceutical contract development and manufacturing market is expected to grow at a CAGR of 7.2% from 2020 to reach $134.2 billion by 2027.Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5171
The pharmaceutical industry is largely driven by scientific discovery and development, with toxicological and clinical experience. Pharmaceutical manufacturing operations may be categorized as basic production of bulk drug substances and pharmaceutical manufacturing of dosage form products. Basic production of bulk drug substances may employ three major types of processes: fermentation, organic chemical synthesis, and biological and natural extraction.
These manufacturing operations may be discrete batch, continuous, or a combination of these processes. Historically, most drug substances were derived from natural sources such as plants, animals, fungi, and other organisms. Natural medicines are pharmacologically diverse and difficult to produce commercially due to their complex chemistry and limited potency.
In addition to the complexity of the
pharmaceutical manufacturing process, clinical trials continue to increase in complications like the trial design, challenges in enrolling protocol-eligible patients, longer duration of clinical trials, and greater overall clinical trial cost. A contract development and manufacturing company (CDMO) is a company within the pharmaceutical industry that provides drug development and manufacturing services. Pharmaceutical companies partner with CDMOs as a way to outsource drug development and drug manufacturing.
Impact of COVID-19 on the Pharmaceutical Contract Development and Manufacturing Market
The outbreak of COVID-19 led to the rising demand for corona-related vaccines, antiviral vaccines, antibody therapy, and various pharmaceutical products to combat the situation. Countries like the U.S., Brazil, and India were severely affected by the pandemic. The pandemic accelerated the demand for biopharmaceutical products with subsequent drug production.
Amidst this pandemic, larger manufacturing units hired contract development and manufacturing organizations for pharmaceutical drug development & manufacturing to sustain their business. For instance, in April 2021, Lonza Group Ltd (Switzerland) entered into an agreement with Moderna Inc. (U.S.) to double the drug substance production for the COVID-19 vaccine by installing three additional drug substance manufacturing lines at Lonza's Visp (CH) site. Similarly, in March 2021, Catalent Inc (U.S.) extended its partnership with Janssen Pharmaceutica NV (Belgium) and Janssen Pharmaceuticals, Inc. (U.S.) to increase the manufacturing capacity for large-scale commercial supply of Janssen's COVID-19 vaccine at Catalent's manufacturing facility in Anagni, Italy. Thus, with the pandemic situation, contract development and manufacturing organizations witnessed growth which is expected to drive the market in the coming years.
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However, the global supply chain processes were disrupted due to COVID-19, exposing the vulnerabilities inherent to relying on any specific region for a substantial supply of drugs and API (active pharma ingredients). As COVID-19 began in early 2020, there was not much impact in the first quarter as manufacturers generally stockpile 60-90 days inventory of essential ingredients and hence, were not threatened by a slowdown in deliveries of raw materials.
The overall pharmaceutical contract development and manufacturing market is segmented on the basis of service [pharmaceutical contract manufacturing, (API, FDF), drug development services, biologics (API, FDF)], end user [big pharmaceutical companies, generic pharmaceutical).
Based on service, the pharmaceutical contract development and manufacturing market is segmented into pharmaceutical manufacturing services, drug development services, and biologics manufacturing services. In 2020, the pharmaceutical manufacturing services segment accounted for the largest share due to the use of advanced technologies and skills for manufacturing and the growing need to reduce manufacturing costs. However, the biologics manufacturing services segment is estimated to grow at the fastest CAGR during the forecast period due to increasing applications of monoclonal antibodies (mAbs), the development of next-generation antibody therapies, such as antibody-drug conjugates, and the growing importance of biologics coupled with the process complexity.
Based on type, the pharmaceutical manufacturing services market is segmented into pharmaceutical API contract manufacturing services and pharmaceutical FDF contract manufacturing services. In 2020, the pharmaceutical API contract manufacturing services accounted for the largest share of the overall pharmaceutical manufacturing services market owing to the growing number of initiatives undertaken by CROs, increasing investment for API manufacturing services, and growing number of agreements with other key players for API manufacturing services.
Quick Buy - Pharmaceutical Contract Development and Manufacturing Market Research Report: https://www.meticulousresearch.com/Checkout/24094698
Based on end user, the pharmaceutical contract development and manufacturing market is segmented into big pharmaceutical companies, small & mid-size pharmaceutical companies, and generic pharmaceutical companies. In 2020, the big pharmaceutical companies segment dominated the overall pharmaceutical contract development and manufacturing market. However, the generic pharmaceutical companies segment is estimated to grow at the highest CAGR during the forecast due to increasing competition in the generic market leading to pricing pressure and inclination towards cutting edge technologies offered by contract development and manufacturing companies.
The report also includes an extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market participants in the industry over the past four years. The pharmaceutical contract development and manufacturing market witnessed several new product launches & approvals, partnerships & agreements, and acquisitions in recent years. For instance, in November 2020, Catalent Inc. (U.S.) partnered with Taysha Gene Therapies, Inc. (U.S.) to support the development and manufacturing of Taysha's gene therapies at Catalent's Maryland-based gene therapy facilities.
The key players operating in the global pharmaceutical contract development and manufacturing market are Thermo Fisher Scientific Inc. (U.S.), Catalent Inc. (U.S.), PPD Inc. (U.S.), Lonza Group Ltd (Switzerland), Recipharm AB (Sweden), Vetter Pharma-Fertigung GmbH & Co. KG (Germany), AbbVie Inc. (U.S.), Synoes Health, Inc. (U.S.), Piramal Enterprises Limited (India), Almac Group (U.K.), Albany Molecular Research Inc. (U.S.), Fareva Holding SA (France), and Jubilant Life Sciences Limited (India) among others.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/pharmaceutical-contract-development-and-manufacturing-market-5171
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