Press release
Asia-Pacific Pharmaceutical Contract Development and Manufacturing Market to be worth $49.20 Billion by 2030
The growth of the Asia-Pacific pharmaceutical contract development and manufacturing market is attributed to the rising incidence & prevalence of chronic illness, rising awareness of overall health and treatment availability, growing geriatric population in the region, rising pharmaceutical R&D expenditure, low-cost manufacturing advantages, increasing government funding for drug development and research, improving healthcare infrastructure, and growing healthcare spending.
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However, the lack of skilled professionals and the introduction of serialization are some of the challenges to the growth of this market. High demand for personalized medicine, cell therapies, and gene therapies, and growth in high potency Active Pharmaceutical Ingredients (HPAPI) and Antibody-drug Conjugates (ADC) market in Asia-Pacific countries are providing opportunities for market growth.
Key Players
The key players operating in the Asia-Pacific pharmaceutical contract development and manufacturing market are Samsung Biologics Co., Ltd. (South Korea), FUJIFILM Diosynth Biotechnologies (Japan), AbbVie Inc. (U.S.), Aenova Group (Germany), Wuxi Biologics, Inc. (China), Vetter Pharma International GmbH (Germany), Catalent Inc. (U.S.), Lonza Group Ltd (Switzerland), Recipharm AB (Sweden), Almac Group (U.K.), C.H. Boehringer Sohn Ag & Co. KG. (Germany), Piramal Enterprises Limited (India), Eurofins Scientific (France), Curia Global, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Evonik Industries AG (Germany), Jubilant Life Sciences Limited (India), IDT Australia (Australia), Nipro Pharma Corporation (Japan), Shanghai ChemPartner Co., Ltd. (China), and Aurobindo Pharma, Ltd. (India)
Asia-Pacific Pharmaceutical Contract Development and Manufacturing Market: Future Outlook
The Asia-Pacific pharmaceutical contract development and manufacturing market is segmented by Type (Pharmaceutical Manufacturing Services {Active Pharmaceutical ingredient (API) Manufacturing Services and Finished Dosage Forms (FDF) Manufacturing Services [Parenteral/Injectable Manufacturing Services, Tablet Manufacturing Services, Capsule Manufacturing Services, Oral Liquid Manufacturing Services, and Other Formulations]}, Drug Development Services, and Biologics Manufacturing Services{Active Pharmaceutical ingredient (API) Manufacturing Services and Finished Dosage Forms (FDF) Manufacturing Services}), End User (Large Pharmaceutical Companies, Small & Mid-Size Pharmaceutical Companies, and Generic Pharmaceutical Companies), and Countries. The study also evaluates industry competitors and analyzes their market share at the country level.
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Among all types studied in this report, the pharmaceutical manufacturing services segment is expected to account for the largest share of the Asia-Pacific pharmaceutical contract development and manufacturing market in 2023. The pharmaceutical manufacturing services segment is further segmented into active pharmaceutical ingredient (API) manufacturing services and finished dosage forms (FDF) manufacturing services. In 2023, the active pharmaceutical ingredient (API) manufacturing services segment is expected to account for the largest market share of the APAC pharmaceutical manufacturing services market. CMOs' in-house experience makes it feasible to manufacture these products efficiently. Additionally, reduced investment costs due to the availability of cheap labor in Asian countries, easier access to new technology in the market, and better utilization of resources in the region are also major factors driving the APAC pharmaceutical API contract manufacturing services market.
Among all end users studied in this report, the generic pharmaceutical companies segment is expected to register the highest CAGR over the forecast period. Factors such as increasing competition in the generic market leading to pricing pressure and the growing inclination of these companies toward the use of cutting-edge technologies offered by contract development and manufacturing companies are driving the market. Additionally, generic pharmaceutical companies typically rely on contract development & manufacturing firms for high-quality manufacturing, packaging, and distribution services of generic APIs and intermediates across various countries, increasing their geographic reach.
Geographic Review
This research report analyzes major countries and comprehensively analyzes China, Japan, India, South Korea, Australia, Singapore, and the Rest of Asia-Pacific. In 2023, China is expected to account for the largest share of the Asia-Pacific pharmaceutical contract development and manufacturing market. The government initiatives to create favorable pharmaceutical drug approval programs, increase investment from existing pharmaceutical manufacturers in the country for infrastructure development, and grow investments towards biosimilar manufacturing are driving the pharmaceutical contract development and manufacturing market in China.
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Key questions answered in the report-
Which are the high-growth market segments in terms of type, end user, and country?
What was the historical market for pharmaceutical contract development and manufacturing services in Asia-Pacific?
What are the market forecasts and estimates for the period 2023-2030?
What are the major drivers, restraints, challenges, and opportunities in the Asia-Pacific pharmaceutical contract development and manufacturing market?
Who are the major players in the Asia-Pacific pharmaceutical contract development and manufacturing market?
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