“Pharmaceutical Contract Manufacturing market set to grow to $138bn by 2024” says Visiongain report

16 January 2020
Pharma

Visiongain has launched a new pharma report: Pharma Leader Series: Top 55 Pharmaceutical Contract Manufacturing Organisations (CMOs) Market 2020: Financial Performances, Services, Capacities, Mergers & Acquisitions, SWOT Analysis.

The pharmaceutical contract manufacturing market is expected to grow at a CAGR of 5.7% in the first half of the forecast period. The API Manufacturing submarket held 67% of the market in 2018. Visiongain estimated that the pharmaceutical contract manufacturing market will reach $138bn in 2024.

Contract manufacturing represents the largest sector of the pharma outsourcing industry. Pharmaceutical companies have sought to take advantage of the benefits of contract manufacturing - lower costs, increased flexibility and external expertise - to focus resources on core competencies in drug development and marketing. CMOs are increasingly seen as a strategic partner for pharmaceutical companies, providing a one-stop-shop of services for formulation development and manufacturing throughout the lifecycle of a drug. The market-leading CMOs have grown through acquisitions and site expansions to offer almost all required services on a global scale. However, there is still a role to be played by specialist CMOs, particularly those that offer biological drug manufacturing services.

This updated study discusses market-leading companies worldwide, as well as the strategies they have employed to develop in recent years. Visiongain’s research and analysis explore opportunities and challenges for the top 55 pharma contract manufacturing organisations.

The lead analyst of the report commented "In recent years, one area of biopharmaceutical manufacturing that has come under increasing interest is ADC manufacturing. Many companies have clinical and pre-clinical candidates of the next generation monoclonal antibody therapies. Many companies have indicated that they are investing in the technology to develop and manufacture these drugs. This market sector will become increasingly competitive in the coming 10 years, Visiongain predicts."

Leading companies featured in the report include AbbVie Contract Manufacturing, Aenova Group, Aesica Pharmaceuticals, Ajinomoto Althea, Inc., Albany Molecular Research, Inc., Alkermes plc, Almac Group, Amatsigroup, Aurobindo Pharma Ltd., Avid Bioservices Inc., Baxter Biopharma Solutions, Bayer AG, Biophore, Boehringer Ingelheim GmbH, Cambrex Corporation, Cardinal Health and other companies.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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