Press release
Europe Pharmaceutical Contract Development and Manufacturing Market to be Worth $68.12 Billion by 2030
According to a new market research report, 'Europe Pharmaceutical Contract Development and Manufacturing Market by Service {Manufacturing [API, FDF (Parenteral, Tablet, Capsule, Oral Liquid)], Drug Development, Biologics Manufacturing, Packaging}, End User [Large Pharma, Generic] -Forecast to 2030', published by Meticulous Research®, the Europe pharmaceutical contract development and manufacturing market is expected to reach $68.12 billion by 2030 at a CAGR of 7.4% from 2023 to 2030.Pharmaceutical contract development and manufacturing organizations (CDMOs) partner with pharmaceutical companies and offer contract-based manufacturing and drug development services. CDMOs handle everything from pre-formulation and formulation development to clinical trials and manufacturing. Pharmaceutical companies opt for CDMOs because of the benefits such as reduced labor, cost, high product quality, faster time, and resource savings.
The growth of the Europe pharmaceutical contract development and manufacturing market is attributed to the complex manufacturing requirements of the pharmaceutical industry, manufacturers' growing inclination toward the use of cutting-edge technologies, patent expiration, increasing investments in pharmaceutical R&D, and the rising demand for generic medicines & biologics. However, the lack of skilled professionals is challenging the growth of this market. In addition, growing consolidation among CDMO market players and virtual business models are the industry trends in the market.
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Rising Demand for Generic Medicines and Biologics
The increasing prevalence of cancer and autoimmune, cardiovascular, and infectious diseases in Europe has resulted in the emergence of biopharmaceuticals or biologics as an important therapeutic class for treating these diseases. Biologics offer numerous advantages over synthetic drugs by targeting specific sites and rarely causing side effects. This results in increasing approvals and the demand for biologics, such as therapeutic proteins and monoclonal antibodies (MAbs).
According to Eurostat, 35.2% of Europeans reported suffering from chronic illnesses in 2021. Furthermore, the COVID-19 pandemic and the rising incidences of infectious diseases significantly burdened the healthcare sector and boosted the demand for vaccines. Due to this, the demand for biopharmaceutical products has risen with the subsequent growth in the Europe pharmaceutical contract development and manufacturing market.
The report includes an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past years (2020-2023). The key players operating in the Europe pharmaceutical contract development and manufacturing market are 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), Eurofins Scientific (France), Curia Global, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Evonik Industries AG (Germany), Cambrex Corporation (U.S.), Siegfried Holdings AG (Switzerland), Fabbrica Italiana Sintetici S.p.A. (Italy), and Corden Pharma GmbH (Germany).
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The Europe pharmaceutical contract development and manufacturing market study presents historical market data in terms of values (2021 and 2022), estimated current data (2023), and forecasts it for 2030.
Pharmaceutical Contract Development and Manufacturing Market 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.
Among all types studied in this report, the biologics manufacturing services segment is expected to grow at the highest CAGR during the forecast period. The growth of the biologics manufacturing services segment is driven by the growing inclination of biopharma and pharma companies towards outsourcing their activities to accelerate drug development workflow and the growth in the adoption of advanced technologies for biologics production. The increasing number of developments in the sector has resulted in pharmaceutical and biopharmaceutical companies outsourcing their manufacturing function to CDMOs.
Additionally, the increasing prevalence of chronic diseases, the increasing advantages of biologics over synthetic drugs, and the demand & approvals for biologics support market growth. Biologics are used for diabetes management, and Victoza and Trulicity are used for diabetes treatment. For instance, according to the International Diabetes Federation, in Europe, the number of people with diabetes is expected to reach 67,000 in 2030 from 61,425 in 2021.
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Among all end users studied in this report, in 2023, the large pharmaceutical companies segment is expected to account for the largest share of the market. Factors such as the increasing need for cost control amid increasing pricing pressure, complex manufacturing requirements, and inclination towards cutting-edge technologies contribute to the market's largest share. 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 also 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.
Among all the countries studied in this report, in 2023, Germany is expected to account for the largest share of the Europe pharmaceutical contract development and manufacturing market. The large market share of the country is attributed to the favorable environment for developing and producing research-intensive, high-grade products. In addition, according to the World Bank, health expenditure in Germany increased from 10.7% in 2011 to 12.5% in 2020. This increase indicates the high focus of the country on its healthcare infrastructure, making it a suitable location for research that expands the drug pipeline.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/europe-pharmaceutical-contract-development-and-manufacturing-market-5592
Scope of the Report:
Europe Pharmaceutical Contract Development and Manufacturing Market Assessment-by Type
Pharmaceutical Manufacturing Services
Active Pharmaceutical Ingredient (API) Manufacturing Services
Finished Dosage Forms (FDF) Manufacturing Services
Parenteral/Injectable Manufacturing Services
Tablet Manufacturing Services
Capsule Manufacturing Services
Oral Liquid Manufacturing Services
Other Formulations
Drug Development Services
Biologics Manufacturing Services
Active Pharmaceutical Ingredient (API) Manufacturing Services
Finished Dosage Forms (FDF) Manufacturing Services
(Other formulations include Topical Formulations, Powders Formulations, and Modified-Release Dosage Forms)
Europe Pharmaceutical Contract Development and Manufacturing Market Assessment-by End User
Large Pharmaceutical Companies
Small & Mid-Size Pharmaceutical Companies
Generic Pharmaceutical Companies
Europe Pharmaceutical Contract Development and Manufacturing Market Assessment -by Country
Germany
U.K.
France
Italy
Spain
Switzerland
Netherland
Denmark
Rest of Europe
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