The European healthcare CDMO market is projected to grow at a significant CAGR during the forecast period (2020-2026). The increasing demand for innovations in drug development for better productivity in pharmaceutical production and reliable research is leading to outsourcing within the region.
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Further, the increasing expenditure in the healthcare sector by European countries has also been observed. This is the major factor driving the growth of the European pharmaceutical contract manufacturing industry that propels the CDMO market. Additionally, contract manufacturing and research activities are pacing up to cater to the ever-increasing demands by the healthcare industry to provide advanced treatment options in Europe.
Moreover, the presence of global leader biotech companies including GlaxoSmithKline PLC, Boehringer Ingelheim GmbH, and other major biopharmaceutical companies in Europe makes it one of the leading markets in the global life science industry. The rise in R&D investment by these market players would significantly contribute to the growth of the European pharmaceuticals contract manufacturing market. AstraZeneca PLC has spent a large amount of fund of around $5.6 billion for R&D during 2016-2017.
Europe has made significant R&D in pharmaceuticals mainly due to the increasing drug discovery and research, and growing demand for innovative drugs. Additionally, the increasing investment of the government in the life sciences and biopharmaceuticals is further augmenting the growth of the market in the region.
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European healthcare CDMO Market – Segmentation
By Services
Contract Development
· Clinical
· Preclinical
· Laboratory Services
Contract Manufacturing
· Active Pharmaceutical Ingredients (API)
· Finish Dosage Formulations
· Medical Devices
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
