The inherent expertise of CMOs and CDMOs is believed to be capable of enabling reduction in the time-to-market a product, significant cost-benefits, as well as access to larger production capacities and novel technologies. It is worth mentioning that there has been substantial merger and acquisition activity in the pharmaceutical contract manufacturing market in the past few years, as players strive to become one stop shops, in order to cater to the diverse needs of pharmaceutical developers (ranging from early-stage development to commercial production). Considering the ongoing innovation in production technologies, evolving pipeline of small molecule products and the increasing demand for such drug candidates, we believe that the pharmaceutical contract manufacturing market is likely to witness positive growth in the coming years.
Players Engaged in Offering Contract Manufacturing Services
Majority of the contract manufacturing facilities are located in Asia-Pacific region, followed by Europe and North America.
More Than USD 9 Billion has been Invested by Pharmaceutical CMOs for Expansion of their Capacities / Capabilities across the Globe between 2017 and 2021
The last five years have witnessed ample increase in the number of expansion initiatives undertaken by pharmaceutical CMOs to expand development and manufacturing operations.
The Pharmaceutical Contract Manufacturing Market is anticipated to grow at a CAGR of 6.7%, during 2021-2030
Owing to the rising competition among pharmaceutical companies and pressing need to reduce drug development timelines, the pharmaceutical contract manufacturing market is anticipated to witness ample increase in the coming decade.
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