Seattle, Aug. 09, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global Contract Pharmaceutical Manufacturing market is estimated to be valued at US$ 178.94 billion in 2022, and is expected to exhibit a CAGR of 9.3% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Contract Pharmaceutical Manufacturing Market:
Key trends in market include increasing engagement of government regulatory organizations in transforming healthcare and medical field through new research and development activities, increasing number of growth strategies by key market players, such as expansion of manufacturing facilities to increase production of pharmaceutical manufacturing.
Key market players are focused on expansion by manufacturing new production units to increase production of pharmaceutical products, which is expected to drive global contract pharmaceutical manufacturing market growth over the forecast period. For instance, in June 2021, Lonza, Switzerland-based multinational manufacturing company for the pharmaceutical, biotechnology and nutrition sectors, invested CHF 20 million in API manufacturing site Nansha, China, to expand API development and manufacturing facility. The investments included three 1,000L GMP trains with an overall 12m³ of reactor volume, including new development and GMP laboratories to manufacture small scale batches of highly potent APIs (HPAPIs) under GMP standards.
Increasing number of growth strategies by key market players is expected to drive growth of the global contract pharmaceutical manufacturing market over the forecast period. For instance, in February 2021, Catalent, a multinational pharmaceutical company, announced that it has signed an agreement with Zumutor Biologics, Inc., an Immuno-Oncology Company, to manufacture Zumutor’s lead candidate, ZM008, a first-in-class monoclonal antibody targeting tumor cell receptors that block natural killer (NK) cell inhibitory signals and enables NK cell activation to generate a potent immune response for the treatment of solid tumors.
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Key Market Takeaways:
Market players are focused on growth strategies such as distribution, acquisition and manufacturing agreements. This in turn is expected to drive growth of the global contract pharmaceutical manufacturing market. For instance, in January 2021, Viral Vector Manufacturing Business from Novasep, a group of companies involved in pharmaceutical and biopharmaceutical technologies, was acquired by Thermo Fisher Scientific, a U.S. based supplier of scientific instrumentation, reagents and consumables, and software services, for approximately US$738.13 million in cash. Novasep’s viral vector manufacturing business provided contract manufacturing services for vaccines and therapies to biotechnology companies and large biopharmaceutical customers.
Among Service type, contract manufacturing organization (CMO) is expected to hold a dominant position in the global contract pharmaceutical manufacturing market over the forecast period, owing to increase in manufacturing plants for the production of pharmaceutical products in market. For instance, on April 12, 2022, Cambrex, a global contract development and manufacturing organization (CDMO) announced the completion of a US$ 50 million at its Charles City, Iowa facility, for expansion of its large-scale active pharmaceutical ingredient (API) manufacturing capabilities.
Among region, North America is expected to hold a dominant position in global contract pharmaceutical manufacturing market over the forecast period, owing to increasing number of inorganic growth strategies by key market players in the region. For instance, On March 27, 2022, Triastek, Inc, an international pharmaceutical company, and Siemens Ltd., India based subsidiary of German multinational engineering and electronics conglomerate, signed a strategic collaboration agreement to provide digital technologies for the global pharmaceutical industry.
Key players operating in the global contract pharmaceutical manufacturing market include Accenture plc, Cognizant Technology Solutions, 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.
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Global contract pharmaceutical manufacturing market, By Service Type:
Contract Manufacturing Organization (CMO)
Final dosage form manufacturing
Contract Research Organization (CRO)
Early Phase I - IIa
Phase IIa - III
Phase IIIb - IV
Medical coding and writing
Clinical Data Management
Global Contract Pharmaceutical Manufacturing Market, By Molecule Type:
Global Contract Pharmaceutical Manufacturing Market, By Geography:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Rest of Middle East
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