The global pharmaceutical contract manufacturing market is anticipated to grow at a considerable CAGR of around 6.9% during the forecast period (2021-2027). The key factor to drive the market growth is the rise in the need for state-of-art methods and production technologies to improve patient outcomes pertaining to various diseases. For instance, in November 2019, South Africa announced that it is going to introduce state-of-the-art known TLD for HIV treatment as almost 20% of the people globally who have HIV live in South Africa. This introduction of the new treatment to have a significant impact on global HIV response and contributes to reaching UN goals for ending the HIV epidemic in 2030.
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Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in February 2020, Catalent Inc involved in manufacturing and delivering drugs, biologics, cell and gene therapies announced that it has signed an agreement with Zumutor Biologics Inc to manufacture Zumutors ZM008 for the treatment of solid tumours. This agreement Catalent Biologics will provide process optimization and drug substance manufacturing services from its facility site in Madison, Wisconsin. Therefore, with the help of this partnership, Catalent will be supporting Zumutors clinical development and commercial needs by bringing upon improvements in cancer treatments. Further, in December 2019, Thermo Fishers Inc officially opened its latest Viral Vector Contract development and manufacturing organization in Lexington that cost $90 million. This 50,000 sq. ft facility will be supporting, the production, testing and manufacturing of viral vectors that are essential for the advancement of new life-saving gene and cell therapies.
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Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
Segment Covered-
· ByCategory
· By Type
· By Product
· By Service
Regions Covered-
· North America
· Europe
· Asia-Pacific
· Rest of the World
Competitive Landscape- Baxter International Inc, Pfizer Inc., Boehringer Ingelheim International GmbH., Amgen Inc.
Key questions addressed by the report
· What is the market growth rate?
· Which segment and region dominate the market in the base year?
· Which segment and region will project the fastest growth in the market?
· How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
· Who is the leader in the market?
· How players are addressing challenges to sustain growth?
· Where is the investment opportunity?
Global Pharmaceutical Contract Manufacturing Market Report Segment
By Category
· Human-Based Drugs
· Animals Based Drugs
By Type
· Sterile Manufacturing
· Non-Sterile Manufacturing
By Product
· Over-The-Counter (OTC) Drugs
· Active Pharmaceutical Ingredients (API)
· Finished Dosage Formulation
· Others (nutritional products and packaging)
By Services
· Manufacturing Services
· Non-Clinical Services
· Research and Development
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
