“Pharmaceutical Contract Manufacturing market set to grow to $138bn by 2024” says new Visiongain report
19 August 2019
Visiongain has launched a new pharma report Pharmaceutical Contract Manufacturing Market 2019-2029: Active Ingredient (API) and Finished Dose Formulation (FDF), Generic APIs, HPAPIs, Solid Dosages, Injectable Dosages.
The contract manufacturing sector is more mature than other sectors of the pharma outsourcing industry and has therefore grown more slowly in recent years. Additionally, external factors such as pharma industry M&A, blockbuster patent expiries and limited funding for pharma development programmes, resulting from the global economic crisis that began in 2008, have restrained growth in the market in the last five years. However, growth continues to be driven by the pharma industry’s need to cut development and manufacturing costs, with a view to improving profitability and allowing companies to focus on core competencies, such as drug discovery and development.
The lead analyst of the report commented "The technologies that will be in the greatest demand in this decade are those that provide flexibility and faster turnover times for pharma companies. Many CMOs are investing in single-use technologies for biopharma manufacturing, as this provides a lower-cost solution for producing biological drugs, through continuous manufacturing processes. Microreactors will offer similar advantages in API manufacturing and CMOs will become more interested in continuous processes which are quicker, lower cost, more flexible and allow lower volume production. Other in-demand technologies will include spray drying, which will provide a cheaper alternative to lyophilisation. Spray drying also has the additional advantage of offering continuous manufacturing, Visiongain notes."
Leading companies featured in the report include Boehringer Ingelheim BioXcellence, Catalent, DPx Holdings (formerly DSM and Patheon), Evonik Degussa, Famar, Fareva, Lonza, Mylan, Teva, Vetter Pharma and other companies.
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