The global pharmaceutical contract manufacturing & contract research market size was valued at over USD 123.1 billion in 2016. Cost saving and time saving benefits associated with the implementation of outsourcing is responsible for driving the industrial growth. Companies are Investing in Infrastructure, Personnel, and Technology in order to Gain Significant Share of the Outsourcing Revenue
The global pharmaceutical contract manufacturing market
Increased cell densities as well as increase in expression of each cell has led to the steady decline in the volume requirement. The aforementioned fact provides the client with choices for in selection from several CMOs, which was not the fact earlier.
The focus of large pharmaceutical companies to strategically engage with a small number of preferred providers is a meaningful departure from the procurement-based outsourcing. This was one of the many approaches that the service industry had become accustomed to.
Expanding market for biosimilars and biobetters is anticipated to pronounce the demand for contract development and manufacturing support. Service providers that hold the potential of providing cost as well as quality advantages are set to make inroads and grow at tremendous pace in the forecast period.
However, as drug manufacturers are increasing the investments with respect to production capabilities. This may limit the potential growth of contract manufacturing services to traditional customers thereby hampering industrial growth.
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Further Key Findings from the Report Suggest:
- Contract manufacturing services estimated to dominate the market over research services
- These services are segmented on the basis of development of different forms of formulations. Active Pharmaceutical Ingredient (API)
- Pharmaceutical companies prefer the outsourcing services for API research and manufacture
- Factors supportive for this trend includes reduction in the cost of production of APIs
- Active molecules from small companies are always acquired by the big pharmaceutical companies
- The prominent entities focus on marketing rather than core competencies of production of API in order to maintain presence
- Finished dose formulations are expected to register the fastest growth in the coming years
- Contract research services for oncology dominated the market and are anticipated to maintain the dominance in the coming years
- CMOs/CDMOs with the ability to establish facilities in emerging countries are expected to drive growth
- Companies can position themselves for strong growth, given that demand is expected to expand rapidly in the coming years
- The major countries include Brazil. Russia, India, and China as the contract service sector is in its infancy in these regions
- Key players contributing in this market are AbbVie Contract Manufacturing, Catalent, Grifols International, S.A., Baxter BioPharma Solutions, Boehringer Ingelheim Biopharmaceuticals Gmbh, Dalton Pharma Services, and Patheon.
- Companies are engaged in lifecycle management of small-molecule drugs through the development of modified generics with uniquely enhanced properties
- Increased competitiveness in the contract service sector is anticipated to ultimately benefit the sector growth
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