The Growth Of The Global Contract Pharmaceutical Manufacturing Is Accelerated By Increasing Demand For Generics And Biosimilars

contract pharmaceutical manufacturing market 
 The Contract Pharmaceutical Manufacturing Market involves manufacturing of pharmaceutical drugs and medicines on a contract basis for pharmaceutical companies. The products are manufactured as per the client specifications and guidelines. Contract pharmaceutical manufacturing offers advantages like reduced costs, access to advanced infrastructure and technologies, and improved regulatory compliance.

The global Contract Pharmaceutical Manufacturing Market is estimated to be valued at US$ 101.45 Mn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends driving the growth of the Contract Pharmaceutical Manufacturing Market is the increasing demand for generic and biosimilar drugs. As patents for many blockbuster drug molecules expire, there is considerable growth in the production of generics and biosimilars. Contract manufacturing helps pharmaceutical companies to meet this demand by providing access to manufacturing capacity and capabilities. It also helps streamline production and ensure timely availability of affordable drugs to patients. This trend is expected to continue during the forecast period as the healthcare industry emphasizes on decreasing treatment costs through generics.

Segment Analysis
The contract pharmaceutical manufacturing market can be segmented into active pharmaceutical ingredients (APIs), final dosage forms (FDFs), and packaging. The FDFs segment accounted for the largest market share in 2023 and is expected to dominate the market during the forecast period. This is because most pharmaceutical companies outsource the manufacturing of FDFs such as tablets, capsules, oral liquids, inhalers, and sterile injectables to contract manufacturing organizations to benefit from their expertise and production efficiencies.

Key Takeaways
The global contract pharmaceutical manufacturing market scope is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis shows that currently North America has the largest share of the contract pharmaceutical manufacturing market primarily due to the presence of well-established pharmaceutical companies in the region that outsource a significant portion of their manufacturing requirements. However, Asia Pacific region is expected to witness the fastest growth during the forecast period, 2023-2030 driven by growing pharmaceutical outsourcing in countries such as India and China due to availability of low-cost yet high-quality manufacturing capabilities in these countries. Countries like India and China have emerged as global outsourcing hubs and are attracting significant investments from major pharmaceutical companies for outsourcing their manufacturing requirements. This is expected to fuel growth of the contract pharmaceutical manufacturing market in Asia Pacific.

Key players operating in the contract pharmaceutical manufacturing market are Accenture plc, ATOS SE, Catalent, Inc., Covance, Inc., Boehringer Ingelheim GmbH, Genpact Limited, Lonza Group, PAREXEL International Corporation, Quintiles Transnational Corporation, Abbvie, Inc., Baxter International Inc., Dr. Reddy’s Laboratories Ltd., Aurobindo Pharma, Pfizer, Inc., The Almac Group, Teva Pharmaceutical Industries Ltd. and Piramal Enterprises Ltd. Major players are focusing on capacity expansions and upgrades in high-growth regions to strengthen their positions.

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