05 April 2023
Visiongain has published a new report entitled Pharmaceutical Contract Manufacturing Market Report 2023-2033: Forecasts by Service (Pharmaceutical Manufacturing Services (Pharmaceutical API Manufacturing Services, Pharmaceutical FDF Manufacturing Services (Parenteral/Injectable Manufacturing Services, Tablet Manufacturing Services, Capsule Manufacturing Services, Oral Liquid Manufacturing Services, Semi-solid Manufacturing Services, Other), Drug Development Services (Lead Identification & Candidate Optimisation, Target Identification & Screening, Target Validation & Functional Informatics, Other), Biologics Manufacturing Services (Biologics API Manufacturing Services, Biologics FDF Manufacturing Services)), by Drug Type (Branded, Generic), by End-users (Big Pharmaceutical Companies, Small & Medium-sized Pharmaceutical Companies, Generic Pharmaceutical Companies, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The Pharmaceutical contract manufacturing market was valued at US$146.0 billion in 2023 and is projected to grow at a CAGR of 10.3% during the forecast period 2023-2033.
Due to their high level of customization, cell and gene therapies are able to address unmet medical needs for treating a wide range of illnesses. Due to these medications' excellent therapeutic potential, numerous pharmaceutical companies and investors have invested a considerable sum of money in their development and commercialization. In the field of cell and gene therapy, a number of companies are methodically expanding their market share by acquiring facilities with significant experience. For instance, in January 2023, Vector BioMed raised US$15 million in first round of funding to help address a sizable gap in the manufacturing of cell and gene therapies.
How has COVID-19 had a Significant Impact on the Pharmaceutical Contract Manufacturing Market?
The COVID disruption has significantly impacted the global economy, causing numerous problems in the supply chains of many requirements, but it has also led to an improvement in the healthcare sector, which has had a significant impact on the pharmaceutical industry. Early on in the COVID-19 epidemic, it was difficult to predict how spending and utilization of healthcare services would vary. Notwithstanding the possibility that a pandemic would increase health care costs, there were other factors influencing spending and utilization. Due to cancellations of elective care to expand hospital capacity and social isolation efforts to reduce community transmission of the coronavirus, healthcare use and spending fell sharply when the pandemic struck. Even while the usage of telemedicine increased, it was not sufficient to offset the reduction in in-person care. In-person hospital and lab services started to be offered later in the year, which increased healthcare spending and usage. As a result, challenges give rise to opportunities. This is also true for the pharmaceutical sector, which is presently coping with the COVID-19 pandemic's effects and adjusting to new circumstances.
How will this Report Benefit you?
Visiongain’s 318-page report provides 143 tables, 184 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the Pharmaceutical contract manufacturing market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Pharmaceutical Contract Manufacturing. Get financial analysis of the overall market and different segments including services, drug type, end-users and capture higher market share. We believe that there are strong opportunities in this fast-growing Pharmaceutical contract manufacturing market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increasing Investments in Pharmaceutical R&D
Research and development are substantially funded in the pharmaceutical industry, where forward-thinking businesses spend 15% of sales on average. The demand for preclinical services among life science enterprises is also being fueled by an increase in R&D spending on early-stage development & an increase in the number of prospective medications in the preclinical stage. To aid in the development of new products, many pharmaceutical corporations have raised their R&D spending. In 2021, there were around 2,000 agreements totaling $47 billion. The increase in pharmaceutical R&D spending is predicted to enhance the demand for pharmaceutical contract manufacturing, creating more opportunities for CROs to offer outsourcing services.
Investments in Advanced Manufacturing Technologies by CDMOs
The ability to manufacture pharmaceuticals at large scale has slowly been developed by CDMOs over the past few decades. They have adopted a number of techniques for producing medicines at the lowest possible cost. In addition to the more traditional batch processing techniques, a growing number of contract manufacturers are investing in continuous manufacturing techniques.
Where are the Market Opportunities?
Increasing Demand for Biological Therapies
The introduction of novel treatments based on biologics and rising sales of current biologics are projected to result in an increase in the shares of biologics, biosimilars, and large-molecule medications in the upcoming years. Almost 200 biologics have received FDA approval in the previous ten years. Also, 27% of all medications authorized between 2018 and 2021 were biologics, while 65–75% of medications in clinical research now are biopharmaceuticals. 46 novel pharmaceuticals and biologics received FDA approval in 2021.
The major players operating in the Pharmaceutical contract manufacturing market are Lonza, Catalent Inc., Recipharm AB, AbbVie Inc., Thermo Fisher Scientific, Siegfried Holding AG, Evonik Industries, Boehringer Ingelheim International, Piramal Pharma Solutions, Samsung Biologics, WuXi AppTec, Fujifilm Holdings Corporation, ICON Plc, Abnova Corporation, Vetter Pharma, Aenova Group, Almac Group, Nipro Pharma Corporation, Jubilant Pharmova Limited, Grifols S.A., Pfizer Inc., Charles River Laboratories, IQVIA, and Baxter. The key competitors in this market have employed a variety of strategies, including mergers and acquisitions, investments in R&D, partnerships, collaborations, regional company expansion, and new product launches.
• In February 2023, Lonza completed the expansion of Conjugation Facility in Visp, Switzerland.
• In January 2023, Catalent announced the completion a new commercial-scale plasmid DNA (pDNA) manufacturing facility in Gosselies, Belgium.
• In January 2023, AbbVie collaborated with Anima Biotech for the discovery and development of mRNA biology modulators for three targets across Oncology and Immunology.
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The biologics market is estimated at US$447 billion in 2023 and is projected to grow at a CAGR of 8.5% during the forecast period 2024-2034.
20 November 2023
The global mRNA Vaccines market is estimated at US$11,773.3 million in 2023 and is projected to grow at a CAGR of 10.5% during the forecast period 2023-2033.
08 November 2023
The global Stem Cell Technologies and Applications market is estimated at US$10,059.6 million in 2023 and is projected to grow at a CAGR of 8.7% during the forecast period 2023-2033.
06 November 2023
The global Neurology Clinical Trials market is valued at US$9,609.2 million in 2023 and is projected to grow at a CAGR of 5.4% during the forecast period 2023-2033.