Pharmaceutical Contract Manufacturing And Research Services Market is Projected To Grow At A Significant Rate Over The Forecast Period
Pharmaceutical Contract Manufacturing And Research Services Industry Overview
The global pharmaceutical contract manufacturing and research services market size was valued at USD 200.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.2% from 2022 to 2030. Cost-saving and time-saving benefits associated with the implementation of outsourcing are responsible for driving the market. The market participants are routinely investing in infrastructure, personnel, and technology in order to gain a greater share of the outsourcing revenue. The presence of end-to-end service providers that are engaged in offering value-added services for an integrated or risk-sharing business model is expected to bolster growth in this industry. The COVID-19 pandemic during its advent had temporally affected the supply chain, which is likely to have a negative effect on the market growth.
Changing product portfolio is also responsible for the growth of the service-based market. “One-stop-shop” offered by the CMOs for the promotion of a portfolio of a complete range of products is anticipated to influence the growth of CMOs. The larger CMOs are embracing the trend of moving and focusing on the niche areas of pharmaceutical development. They are focusing on the establishment of regulatory pathways for transgenic-based product development. However, the companies are willing to restrict outsourcing for the manufacturing of complex and big moieties. They are in an opinion of in-house production rather than outsourcing owing to the specific requirements. This, in turn, may act as a challenge for the market.
Gather more insights about the market drivers, restrains and growth of the Global pharmaceutical contract manufacturing and research services market
The COVID-19 pandemic has generated high demand for therapeutics and vaccines owing to the rising spread of the diseases worldwide. Owing to this, several companies had partnered with CMO to speed up the manufacturing of drugs. For instance, in December 2020, a CDMO, Recipharm signed an agreement with a pharmaceutical company Moderna. As per the agreement, Recipharm supported the fill-finish part of the Moderna COVID-19 vaccine for supply to countries outside the U.S. Many public organizations have also provided funding to support the research of COVID-19 vaccines. For instance, as of February 2022, the U.K. government invested USD 119.1 million to support the development of the Oxford/AstraZeneca COVID-19 vaccine. This is expected to have a positive impact on market growth.
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Pharmaceutical Contract Manufacturing And Research Services Market Segmentation
Grand View Research has segmented the global pharmaceutical contract manufacturing and research services market based on service and region:
Pharmaceutical Contract Manufacturing And Research Service Outlook (Revenue, USD Billion, 2018 - 2030)
- Manufacturing
- API/Bulk Drugs
- Advanced Drug Delivery Formulations Packaging
- Packaging
- Finished Dose Formulations
- Solid Formulations
- Liquid Formulations
- Semi-solid Formulations
- Research
- Oncology
- Vaccines
- Inflammation & Immunology
- Cardiology
- Neuroscience
- Others
Pharmaceutical Contract Manufacturing and Research Services Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- February 2021: Charles River Laboratories International, Inc. announced that it has signed a contract to acquire Cognate BioServices, Inc., a cell and gene therapy CDMO, for around USD 875 million.
- January 2021: Boehringer Ingelheim entered into a planned collaboration as well as licensing agreement with Enara Bio for research and advancements in novel targeted cancer immunotherapies using Enara Bio’s Dark Antigen discovery platform.
Key Companies profiled:
Some prominent players in the global pharmaceutical contract manufacturing and research services market include:
- Catalent
- Pharmaceutical Product Development LLC
- AbbVie
- Baxter BioPharma Solutions
- Patheon
- Grifols International, S.A.
- Dalton Pharma Services
- Boehringer Ingelheim Biopharmaceuticals GmbH
- Lonza AG
Order a free sample PDF of the Pharmaceutical Contract Manufacturing And Research Services Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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