Pharmaceutical Contract Manufacturing and Research Services Market Size to Hit USD 435.53 Billion by 2032

The global pharmaceutical contract manufacturing and research services market size is estimated to hit around USD 435.53 billion by 2032 and the sector is expanding at a notable CAGR of 7.3% from 2023 to 2032.

The global pharmaceutical contract manufacturing and research services market size was valued at USD 216.3 billion in 2022. Asia Pacific has held the maximum market share of 42% in 2022.

Key Insights:

• In 2022, the manufacturing segment held the largest market share, almost 66%.
• From 2023 to 2032, the finished dose formulations segment is projected to expand at a compound annual growth rate (CAGR) of 7.8%.
• In 2022, the API/bulk drugs segment accounted for 61% of the market share.
• In 2022, oncology accounted for 26% of total revenue.

Pharmaceutical contract manufacturing refers to outsourcing the production or manufacturing of medications, including Tablets, capsules, and pills., to a third-party entity. This arrangement involves engaging external organizations to carry out the manufacturing processes on behalf of the pharmaceutical company, permitting more efficient and flexible production capabilities. Contract manufacturers offer services to various businesses, customizing their production based on customer designs and specifications. On the other hand, a contract research organization is a company that assists the pharmaceutical and medical device industries by providing services in contract manufacturing and research.

Download the Sample Copy@ https://www.precedenceresearch.com/sample/2193

In North America, particularly in the United States, there is a significant market share driven by the rising prevalence of chronic diseases and the presence of key regional players. For instance, according to the 2022 American Cancer Society report, an estimated 1.9 million new cancer cases and 609,360 cancer-related deaths are anticipated in the United States in 2022. This substantial cancer burden has increased demand for cancer treatment drugs, prompting drug manufacturing companies to collaborate with pharmaceutical contract manufacturing and research services providers, thereby contributing to market growth.

North America held a dominant position in the pharmaceutical contract manufacturing and research services market, in 2022. Factors such as the large number of clinical trials, the wide base of production for active pharmaceutical ingredients, the presence of leading pharmaceutical companies, and the growth of the generics industry all contribute to the North American region’s estimated significant growth over the forecast period.

Conversely, during the projection period, Europe is anticipated to develop at the fastest rate. The region’s developing countries have favourable government policies, a trained workforce is readily available, the demand for pharmaceutical products is growing, and the population is ageing quickly.

Since there are many generic medicine manufacturers in the Asia Pacific area, its scientific base and capabilities are expanding, and major companies have improved its manufacturing facilities in the previous two to three years, the market is expected to see significant growth throughout the projected period. Major investors from pharmaceutical corporations in developing economies like China and India have also been drawn to these countries by the low labour and production costs.

Ask Here for Customization@ https://www.precedenceresearch.com/customization/2193

Pharmaceutical Contract Manufacturing and Research Services Market Scope

Growth Factors:

• The global pharmaceutical contract manufacturing and research services market is experiencing growth propelled by increased demand for generics, increased investments in pharmaceutical research and development, and advancements in manufacturing technologies. The market is also set to benefit from the rising demand for biological therapies, a focus on speciality medicines, nuclear medicine expansion, and cell and gene therapy advancements. Collectively, these trends create growth opportunities in the pharmaceutical contract manufacturing and research services sector.

• The market is anticipated to grow in the forecast period due to increasing demand for efficient medications and healthcare devices. Factors such as the highly growing patient population, stringent medication approval processes, and the high cost of product development are expected to contribute to market expansion. Additionally, revenue in the pharmaceutical contract manufacturing and research services sector is projected to be fueled by the expanding strategic collaborations among critical vendors during the forecast period.

• The growing demand for the development of pharmaceutical drugs is boosting the pharmaceutical contract manufacturing and research services market. Various market players are actively involved in implementing strategic initiatives. For instance, In October 2021, BioAgilytix, a leading global contract research organisation specialising in supporting pharmaceutical and biotech partners across all phases of drug development, formalised a worldwide partnership agreement with CTI Clinical Trial & Consulting Services (CTI), a global CRO specialising in personalised curative therapies and complex clinical programs.

• A key factor propelling the expansion of the global pharmaceutical contract manufacturing and research services market is the reduced expense of manufacturing active pharmaceutical ingredients (API), increased emphasis on expense reduction, and escalating pricing pressure. Furthermore, significant contributors to the market’s expansion include skilled staff, advanced technology, robust infrastructure, and heightened demand, mainly deriving from the continuing biologic drug patent cliff.

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308

Market Potential:

The oncology segment is ready to claim a significant market share, driven by initiatives by market players and factors like the rise in the prevalence of cancer. For instance, the World Health Organization (WHO) reported approximately 10 million deaths from cancer in the last couple of years, nearly one in six. Moreover, GLOBOCAN predicts the global number of new cancer cases to reach 30.2 million by 2040. These substantial figures determined the growing incidence of cancer, amplifying the demand for pharmaceutical contract research services and fostering market expansion.

The growth of the High-potency Active Pharmaceutical Ingredients (HPAPI) and Antibody-drug Conjugates (ADC) markets presents lucrative opportunities. Manufacturing HPAPIs involves high-containment conditions, necessitating specialised operator training based on occupational exposure limits. HPAPIs encompass anti-cancer therapies, including Antibody-drug Conjugates (ADCs), featuring small-molecule cytotoxic compounds or potent agents like hormonal therapies.

Furthermore, various market players actively implement strategic initiatives, contributing to the market’s growth. For instance, in February 2021, Parexel, a prominent provider of solutions to accelerate the development and delivery of innovative therapies for global health improvement, collaborated with NeoGenomics, Inc. This strategic partnership aimed to enhance the application of precision medicine in oncology clinical trials by leveraging real-world genomics data. The collaboration targeted the acceleration of patient matching, optimisation of trial design, site selection, clinical development, and translational research in oncology.

Related Reports:

• Pharmaceutical Contract Sales Outsourcing (CSO) Market: The global pharmaceutical contract sales outsourcing (CSO) market size accounted for USD 9.23 billion in 2022 and it is projected to be worth around USD 21.24 billion by 2032, expanding at a CAGR of 8.69% during the forecast period from 2023 to 2032.
  
• Pharma 4.0 Market: The global pharma 4.0 market size was reached at USD 12.05 billion in 2022 and is expected to hit around USD 63.17 billion by 2032, poised to grow at a CAGR of 18.02% during the forecast period from 2023 to 2032.
  
• Compounding Pharmacy Market: The global compounding pharmacy market size was estimated at USD 14.92 billion in 2022 and it is predicted to reach around USD 28.19 billion by 2032, growing at a CAGR of 6.57% during the forecast period from 2023 to 2032.

Industry Spotlight:

• In January 2023, Pharmapack Europe announced that it is set to launch two new zones in 2024 to address the rising demand for biologics, mRNA therapeutics, and contract packaging.

• In March 2022, Silo Pharma, Inc., a biopharmaceutical company in the developmental stage with a focus on utilising psychedelics for therapeutic purposes, finalised an agreement with Frontage Laboratories.

• In March 2022, Piramal Pharma Limited’s Pharma Solutions (PPS) business, a prominent Contract Research, Development, and Manufacturing Organization (CDMO), announced a multi-million-dollar investment to establish a world-class high-throughput screening facility.

• In February 2022, Recipharm AB, a prominent contract development and manufacturing organisation based in Sweden, announced its acquisition of Arranta Bio. This strategic move aims to provide cutting-edge contract development and manufacturing services to innovative drug developers in the biologics market, specifically focusing on advanced therapeutic medicinal products.

Market Key Players:

• Thermo Fisher Scientific Inc.
• Recipharm AB
• Piramal Pharma Solutions
• Jubilant Pharmova Limited
• Curia Global, Inc.
• Cambrex Corporation
• CordenPharma International
• Samsung Biologics
• FAMAR Health Care Services
• WuXiAppTec

Company Synopsis:

Recipharm AB

Recipharm demonstrates extensive experience as a global Contract Development and Manufacturing Organization (CDMO) committed to addressing evolving needs through operational excellence, scientific proficiency, and robust customer connectivity. Recipharm collaborates with Oz-UK, a Contract Research Organization (CRO) specializing in respiratory R&D solutions, to expedite the development and production of environmentally friendly pressurized metered dose inhalers (pMDIs). These inhalers will incorporate valves and actuators from Recipharm’s Bespak brand and a new generation of low global warming potential (GWP) propellants.

Piramal Pharma Solutions

The Piramal Group is an Indian multinational conglomerate with a diverse portfolio spanning healthcare, life sciences, drug discovery, financial services, alternative investments, and real estate. In February 2023, Piramal Pharma Solutions, a patient-centric Contract Development and Manufacturing Organization (CDMO) under Piramal Pharma Ltd, commenced the production of initial batches of active pharmaceutical ingredients (APIs) in newly established reactor suites at its Riverview facility in Michigan, USA.

Market Segmentation

By Service

• Manufacturing
  • API/Bulk Drugs
  • Advanced Drug Delivery Formulations Packaging
  • Packaging
  • Finished Dose Formulations
    • Solid Formulations
    • Liquid Formulations
    • Semi-solid Formulations
• Research
  • Oncology
  • Vaccines
  • Inflammation & Immunology
  • Cardiology
  • Neuroscience
  • Others

By End-User

• Big Pharma
• Small Pharma
• Generic Pharma
• Contract Research Organizations

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Browse Table of Contents: https://www.precedenceresearch.com/table-of-content/2193

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/2193

Unlocking Market Insights through Data Excellence

The “Precedence Statistics” flexible dashboard is a powerful tool that offers real-time news updates, economic and market forecasts, and customizable reports. It can be configured to support a wide range of analysis styles and strategic planning needs. This tool empowers users to stay informed and make data-driven decisions in various scenarios, making it a valuable asset for businesses and professionals looking to stay ahead in today’s dynamic and data-driven world.

Access our Premium Real Time Data Intelligence Tool, Visit: www.precedencestatistics.com

About Us

Precedence Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

Web: https://www.precedenceresearch.com/

Our Blogs:

https://www.towardshealthcare.com

https://www.towardspackaging.com

For Latest Update Follow Us:

Linkedin | Facebook | Twitter