Pharmaceutical contract manufacturing Market Projected to Witness a Double-Digit CAGR During 2021 – 2028

Pharmaceutical contract manufacturing market has widespread acceptance and implementation by pharmaceutical companies as it contributes to the outsourcing market. The pharmaceutical manufacturers gained tremendous pressure to lower the cost of their end-products owing to the global economic depression. The pharmaceutical contract manufacturing distributes their goods by other firms under a new brand, thereby providing their services to the other manufacturers.

The need for reduction in cost, minimization of product development, decrease in the R&D activities, reduction in patent tenure, and the growth in innovative drugs have brought global pharmaceutical market at a critical stage. Also due to the economic constraints in European region, key pharmacy and biotechnology companies have dropped their expenditure, causing increased contract producers globally. Merger & acquisition strategies are majorly adopted by both benefactor companies and agreemental manufacturers, leading to incorporation among both sectors. Most important pharmaceutical companies acquired contract manufacturers to reach vertical integration. Others pharmaceutical companies adopted expansion and investment strategies to expand their manufacturing capabilities. Both strategies were appointed in order to decrease the demand for outsourcing.

The global pharmaceutical contract manufacturing market can be bifurcated on the basis of type of contract manufacturing and regions. Based on type of contract manufacturing, the pharmaceutical contract manufacturing market is divided into active pharmaceutical ingredients (API) / bulk drug, advanced drug delivery products, packaging contract manufacturing, finishing dosage form (FDF), OTC medicines and nutritional products. The finishing dosage form (FDF) of contract manufacturing is likely to register the highest growth rate owing to increased need for generic drug products and rising R&D activities. Based on region, global pharmaceutical contract manufacturing market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. The global pharamceutical contract manufacturing market was dominated by the Asia-Pacific. China was estimated to the largest revenue generator for the region in the current year due to increased industrial production in the last 3–4 years. China is also the largest consumer of pharmaceutical contract manufacturing in the world. The robust demand especially in the Asia Pacific region is anticipated to be one of the key driving factors for the overall growth of the global pharmaceutical contract manufacturing market. Moreover, China is further projected to account for the highest share in the global market and is anticipated to maintain its lead in the overall demand during the forecast period. This can be attributed to rapid industrialization and increasing urbanization during the past few years. The markets in various other developing economies such as Russia, Brazil, Indonesia, Poland, Argentina, New Zealand, Korea and India among others are also expected to witness a rapid growth throughout the forecast period. In addition to this, rising per capita disposable income and surge in the global economy is another key factor which is expected to bring impetus in the growth of the

Key players operating in the global market are concentrating on some of the main market policies such as collaborations, mergers, acquisitions and partnerships in order to keep grip in the eternally competitive global market. Besides, they are concentrating on gaining hold on the local players to toughen their goodwill and to enhance their market reach globally.

Additionally, they are absorbed on collaborating with local players in order to increase their market reach and also to strengthen their goodwill in the global market. Some of the major players involved in the manufacture and supply of pharmaceutical contract manufacturing include Gilead Sciences, Aurobindo Pharma, Aenova, Fareva, Dr. Reddy’s Laboratories, Coherus Biosciences, Pfizer CentreOne Celltrion, Biogen, Eli Lilly, Eurofarma Laboratories, GlaxoSmithKline (GSK), Apotex, Aspen, Cipla, Catalent, Lonza, Emcure Pharmaceuticals, Amgen, Gedeon Richter, Biocon Boehringer Ingelheim, AstraZeneca, Baxter, BERLIN-CHEMIE, Daiichi Sankyo, and Abbott.

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The global pharmaceutical contract manufacturing market can be segmented
By Type of Contract Manufacturing:
• Active pharmaceutical ingredients (API) / bulk drug
• Advanced drug delivery products
• Packaging contract manufacturing
• Finishing dosage form (FDF)
• OTC medicines
• Nutritional products
By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

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