Recent developments in pharmacology and biotechnology have been able to drive significant advances and innovation in understanding the root causes of various diseases; this has further aided in the discovery and development of more targeted treatment strategies. It is worth noting that such advances in the healthcare industry have made pharmaceutical development and contract manufacturing processes even more complex. In addition, the rising competition within this domain amongst stakeholders has necessitated the need for drug developers to launch new products, cut operational costs and increase profits. Outsourcing has emerged as a prominent trend, especially for manufacturing and fill / finish operations, to meet the increasingly complex demands of the industry.
Players Engaged in Offering Contract Manufacturing Services
The contract manufacturing market in the pharmaceutical domain is characterized by the presence of both niche, specialty companies, focused on early-stage development and production (preclinical and / or clinical scales), and one-stop-shop contract manufacturing organizations (CMOs) possessing an extensive range of capabilities, catering to product development, commercialization and various other requirements of their clients.
The pharmaceutical CMO domain has witnessed 70+ merger and acquisition agreements
Majority of these agreements have been undertaken by companies based in North America, to consolidate their position in the contract manufacturing domain.
The rising demand of small molecules is believed to drive the increase in production capacity
In order to avoid capacity crunch, pharmaceutical CMOs are anticipated to continue investing in expansion of production capacities.
The pharmaceutical contract manufacturing market is anticipated to grow at a CAGR of 6.7%, during 2021-2030
The USD 141 billion market by 2030, is anticipated to be well-distributed across different market segmentations. Interestingly, the outsourcing share of API and FDF manufacturing is projected to increase at a rate of 6.4% and 7.3% respectively.
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