|
Home | Technology News Search Engine:
|
|
|
|
Home: Technology News:
|
|
|
(IT-NEWSWIRE.COM, June 02, 2021 ) The global pharmaceutical contract development and manufacturing market is projected to reach USD 146.1 billion by 2025 from USD 100.7 billion in 2020, at a CAGR of 7.7% between 2020 and 2025.
Market growth is driven mainly by factors such as rising demand for generics, increasing investments in pharmaceutical R&D, and investments in advanced manufacturing technologies by CDMOs. The increasing demand for biological therapies, growing focus on specialty medicines, growth in the nuclear medicines sector, and advancements in cell and gene therapies are also expected to offer market growth opportunities in the coming years.
The pharmaceutical manufacturing services segment accounted for the largest share of the service segment in the pharmaceutical contract development and manufacturing market in 2019.
On the basis of service, the pharmaceutical contract development and manufacturing market is broadly segmented into pharmaceutical manufacturing, biologics manufacturing, and drug development services. In 2019, the pharmaceutical manufacturing services segment accounted for the largest share of the pharmaceutical contract development and manufacturing market. The large share of this segment can be attributed to the limited finances of pharma manufacturers, capacity constraints, need for reductions in the time-to-market, complex manufacturing requirements, large investments required for establishing manufacturing facilities, and the growing pipeline, all of which have prompted the shift toward pharmaceutical contract manufacturing.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=201524381
The big pharmaceutical companies segment accounted for the largest share of the end user segment in the pharmaceutical contract development and manufacturing market in 2019.
Based on end users, the pharmaceutical contract development and manufacturing market is segmented into big pharmaceutical companies, small & medium-sized pharmaceutical companies, generic pharmaceutical companies, and other end users. In 2019, big pharmaceutical companies accounted for the largest share of the pharmaceutical contract development and manufacturing market, and this trend is expected to continue during the forecast period. The large share of this end-user segment can be attributed to factors such as the high demand for end-to-end services in big pharmaceutical companies, rising pricing pressure and pipeline challenges in their operations (resulting in a shift toward contract development and manufacturing), and the growing need to streamline execution costs as a result of the patent expiry of blockbuster drugs.
The Asia Pacific region is the fastest-growing region of the pharmaceutical contract development and manufacturing market in 2019.
The Asia Pacific region is estimated to grow at the highest CAGR in the pharmaceutical contract development and manufacturing market during the forecast period, this is mainly due to factors such as increasing investments and expansions by big pharma companies in countries such as China, India, and South Korea.
Some of the prominent players in the pharmaceutical contract development and manufacturing market include Thermo Fisher Scientific Inc. (US), Catalent, Inc. (US), Lonza Group Ltd. (Switzerland), Recipharm AB (Sweden), AbbVie Inc. (US), Aenova Group (Germany), Almac Group (UK), Siegfried Holding AG (Switzerland), and Ingelheim International GmbH (Germany).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
|
|
|
|
|
Technology News Headlines
|
|
|
|
|
Technology Business Video Feed
|
|
More Technology Video Feeds
|
|
|
