The European Pharmaceutical Contract Manufacturing market is anticipated to grow at a modest CAGR of around 6.1% during the forecast period (2021-2027). The European pharmaceutical contract manufacturing market has witnessed impressive growth over the past few decades. Pharmaceutical contract manufacturing company provides cost-effective drug development and manufacturing solutions to pharmaceutical and biotech companies. In the wake of the COVID-19 pandemic, the demand for generic medicines has increased. Many pharmaceutical organizations in European countries have hired CDMO to develop more medicines and pharmaceutical products during the COVID-19 pandemic, this led to market growth.
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The availability of skilled labor, improved infrastructure, and government policies, and increasing uptake of biologics and generics are the major factors driving the growth of the European pharmaceutical contract manufacturing market during the forecast period. Pharmaceutical companies contract with CDMO to increase their capabilities of commercial production and to increase the supply of numbers of the vaccine. Besides, the rising mergers and acquisitions among market players to expand their product offerings and manufacturing units is the factor that also propelling the market growth in the European region.
For instance, in February 2020, Catalent Pharma Solutions acquired MaSTherCell Global, a contract development manufacturing organization (CDMO) subsidiary of Orgenesis to further expand their product offerings for point-of-care cell therapy and the development of advanced therapy medicinal products. Moreover, in May 2019, EVER Pharma Holding Ges.m.b.H completed the acquisition of Amneal Deutschland GmbH, a subsidiary of Amneal Pharmaceuticals to extend its commercial presence in Europe. With this acquisition, EVER Pharma extended its portfolio in Germany.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
Segment Covered-
· By Manufacturing Process Type
· By Product Type
· By Route of Administration
· By Service
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
