Pharmaceutical Contract Manufacturing Market Scope
Pharmaceutical Contract Manufacturing refers to contract basis services for drug development and manufacturing. It includes mainly manufacturing of solid and liquid dosage forms as well as the injectable. Pharmaceutical companies are focusing on contract manufacturing as it saves the labor cost such as training, wages, and also it provides quality pharmaceutical manufacturing solutions. Further, the increasing number of patients with chronic diseases and focus towards prevention of disease rather treatment have led to a rise in demand for novel drugs and treatment. For instance, According to the World Health Organization (WHO) 2018 report, cardiovascular diseases accounted for nearly 836,546 deaths in the United States and 3.9 million deaths in Europe. And cancer led to 9.6 million deaths globally in 2018. Further, increasing investment in pharmaceutical contract manufacturing and government favorable policies are expected to strengthen the market during the forecasted period.
According to AMA, the Global Pharmaceutical Contract Manufacturing market is expected to see growth rate of 7.5%
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Pharmaceutical Contract Manufacturing market throughout the predicted period.
Thermo Fisher Scientific (United States), Catalent (United States), Lonza (Switzerland), Evonik Industries (Germany), Teva Pharmaceutical Industries (Israel), Boehringer Ingelheim BioXcellence (Germany), Famar S.A. (Greece), Fareva Group (France), Vetter Pharma International (Germany), Mylan (United States), Recipharm (Sweden), Aesica Pharmaceuticals (United Kingdom), Pharmaceutical Product Development LLC (United States), AbbVie (United States) and Baxter BioPharma Solutions (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are QuintilesIMS (United States), Dalton Pharma Services (Canada), Grifols S.A (Spain), Ligand Pharmaceuticals, Inc. (United States), Valeant Pharmaceuticals International Inc. (Canada) and West Pharmaceutical Services, Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Pharmaceutical Contract Manufacturing market by Type (Active Pharmaceutical Ingredients [API], Finished Dosage Formulations (FDF) [Tablet, Capsule, Oral Liquids, Parenteral/Injectable, Others], Advanced Drug Delivery Products, Over The Counter [OTC] Medicines and Nutritional Products and Others), by Application (Pharmaceutical and Biopharmaceutical) and Region with country level break-up.
On the basis of geography, the market of Pharmaceutical Contract Manufacturing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
21st February 2019, Teva Pharmaceutical Industries Ltd. an Israeli multinational pharmaceutical company collaborated with Insilico Medicine, an American biotechnology company. This collaboration will enhance the production processes for Teva’s biopharmaceutical therapeutics by using Insilico’s technology for predictive biomanufacturing.
“According to Food and Drug Administration (FDA), each party engaged in the manufacture of a drug is responsible for ensuring compliance with Current Good Manufacturing Practice regulations (CGMP) for the manufacturing activities it performs. For both owners and contract facilities that conduct manufacturing operations, CGMP “includes the implementation of oversight and controls over the manufacture of drugs to ensure quality, including managing the risk of and establishing the safety of raw materials, materials used in the manufacturing of drugs, and finished drug products.” The FD&C Act also prohibits any person from introducing or delivering for introduction an adulterated or misbranded drug into interstate commerce."
Market Trend
- Rise in Demand of Generic Drugs and Complex Pharmaceutical Products
- Emphasizing On Development of Cost-Effective Pharmaceuticals
Market Drivers
- Increasing Geriatric Population and Prevalence of Chronic Diseases
- Growing R&D Activities Led to Rise in Number of Pharmaceutical Products in the Pipeline
Opportunities
- Growing Demand for Outsourcing Services for Healthcare from Developing Economies
- Growing Biopharmaceutical Industry
Restraints
- Huge Initial Investment for Pharmaceutical Contract Manufacturing Services
- Data Security and Privacy Concerns Associated with Pharmaceutical Contract Manufacturing
Challenges
- Lack of Advance Healthcare Facilities in Emerging Countries
Key Target Audience
Biotechnology and pharmaceutical companies, Government agencies, Contract research organizations, Academic and research institutions, Hospitals and diagnostic centers, Market research and consulting firms, Venture capitalists and investors and Others