Global Pharmaceutical Contract Research and Manufacturing Market Overview:
Pharmaceutical Contract Research and Manufacturing refers to a method in which the product's parent business does not actually create the product. Instead, the corporation decides to outsource all production processes to contract manufacturers with the expertise and infrastructure needed to produce the best version of that product at the lowest feasible cost. Contract research manufacturers, as the name implies, manufacture other company’s products on a contract basis. The parent firms then apply their own label and packaging to the items produced by contract manufacturers, and they have their own sales and distribution channels and networks to get the product to the end consumer. Contract research and manufacturing services (CRAMs) are one of the pharmaceutical and biotechnology industries' fastest growing sectors. Contract research organisations (CROs) and contract manufacturing organisations (CMOs) provide low-cost outsourcing services to the pharmaceutical industry (CMOs). Huge investments in R&D, followed by low productivity, are driving companies to reduce manufacturing costs by outsourcing research and manufacturing to low-cost countries. Outsourcing provides significant advantages over other matured pharmaceutical hubs.
Growth Drivers
- Increasing Demand for Generic Medicines
- Rising Demand for Cell and Gene Therapies
Roadblocks
- Fluctuation in Supply Chain Due to Enforcement of Stringent Lockdown Measures
Opportunities
- Rising Healthcare Expenditures Provides an Opportunity for CRM Market
Challenges
- In-House Production of Pharmaceuticals Could Hamper the Market Growth
Competitive Landscape:
The demand for Pharmaceutical Contract Research and Manufacturing is increasing. The industry is segmented, but it is predicted to grow as rise healthcare expenditure and health insurance, among other factors, drive the market forward. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position.
Some of the key players profiled in the report are Patheon (Thermo Fisher Scientific) (United States), Boehringer Ingelheim (Germany), Labcorp (United States), IQVIA (United States), PPD, Inc. (United States), Sun Pharmaceutical Industries Ltd. (India), Medpace (United States), Syngene International Limited (India), WuXi AppTec (China), ICON plc (Ireland) and Lonza Group AG (Switzerland). Additionally, following companies can also be profiled that are part of our coverage like Charles River Laboratories (United States) and Parexel (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Pharmaceutical Contract Research and Manufacturing market by 2026. Considering Market by Services, the sub-segment i.e. Synthetic Route Design & Scouting Services will boost the Pharmaceutical Contract Research and Manufacturing market. Considering Market by Phase, the sub-segment i.e. Phase I will boost the Pharmaceutical Contract Research and Manufacturing market. Considering Market by Enterprise Size, the sub-segment i.e. Large Enterprise will boost the Pharmaceutical Contract Research and Manufacturing market. Considering Market by Product Type, the sub-segment i.e. Oncology will boost the Pharmaceutical Contract Research and Manufacturing market.
Latest Market Insights:
In February 2021 Charles River Laboratories had announced the acquisition of Cognate BioServices. Cognate is a leading cell and gene therapy CDMO that provides comprehensive production solutions for cell therapies, as well as the production of plasmid DNA. The acquisition will position Charles River as a premier scientific partner for cell and gene therapy advancement, experimenting, and production, offering clients a complete solution ranging from simple research and discovery to CGMP manufacturing.
What Can be Explored with the Pharmaceutical Contract Research and Manufacturing Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Pharmaceutical Contract Research and Manufacturing Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Pharmaceutical Contract Research and Manufacturing
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Pharmaceutical Contract Research and Manufacturing market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Pharmaceutical Contract Research and Manufacturing market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Healthcare and End-use industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.