DUBLIN–(BUSINESS WIRE)–The “Pharmaceutical Contract Manufacturing – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Pharmaceutical Contract Manufacturing Market to Reach $130.2 Billion by 2026
Amid the COVID-19 crisis, the global market for Pharmaceutical Contract Manufacturing estimated at US$100 Billion in the year 2020, is projected to reach a revised size of US$130.2 Billion by 2026, growing at a CAGR of 4.6% over the analysis period.
API/Bulk Drugs, one of the segments analyzed in the report, is projected to record a 4.4% CAGR and reach US$81.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Advanced Drug Delivery Formulations segment is readjusted to a revised 3.8% CAGR for the next 7-year period.
Growth in the global market is set to be driven by positive trends in the broader pharmaceuticals market which is in turn driven by growth in the emerging markets. The robust demand for medication and therapeutics in the emerging economies, coupled with the increasing commercialization of generics and emerging technologies are anticipated to spur growth in the market.
With the market gradually inching towards biopharmaceuticals, with several of such drugs being developed by start-up or smaller biotech companies who either have no or limited production capabilities is also fueling growth in pharmaceutical contract services. Increasing geriatric patient population, growing consumption of medicines, rising healthcare expenditure, improvising healthcare infrastructure in emerging markets and mounting pressure to reduce healthcare costs are other factors driving market growth.
The U.S. Market is Estimated at $31.6 Billion in 2021, While China is Forecast to Reach $21.1 Billion by 2026
The Pharmaceutical Contract Manufacturing market in the U.S. is estimated at US$31.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$21.1 Billion by the year 2026 trailing a CAGR of 5.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 4.1% respectively over the analysis period.
Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. The presence of a significant number of pharmaceutical and biopharmaceutical companies, and several of the leading firms worldwide, together sizable number of contract manufacturers puts the US and Europe ahead in the global market.
The US represents the largest market, driven by healthcare reforms and the replacement of branded drugs with generics following patent expiries of these drugs. Lower labor costs, presence of significant talent pool and growing domestic markets are some of the factors driving growth in the Asia-Pacific region.
Packaging Segment to Reach $15.6 Billion by 2026
Contract manufacturing organizations are increasingly adopting newer and efficient ways to packaging, thereby increasing demand for new machinery. Efforts are underway to automate packaging of personalized cell and gene therapies. In the global Packaging segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$8 Billion in the year 2020 will reach a projected size of US$11.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.4 Billion by the year 2026.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Pharmaceutical Contract Manufacturing – A Prelude
- COVID-19 Breaks All Things Normal, Pushes Pharmaceutical Industry Into an Era of Change
- COVID-19 Exposes US Pharmaceutical Makers to Risk of Supply Shortages
- US Federal Government & FDA Take Unprecedented, Bold Steps to Deal with Shortage of Pharmaceuticals
- What Does this Spell for Pharmaceutical Outsourcing & Contract Manufacturing?
- Market Outlook
- The US and Europe Constitute the Largest Markets for PCM
- Asia-Pacific to Drive the PCM Market Growth
- Competition
- M&A Activity High in the Contract Manufacturing Space
2. FOCUS ON SELECT PLAYERS (Total 192 Featured)
- Abbvie Inc
- Aenova Group
- Ajinomoto Althea, Inc.
- Alcami Corporation
- Almac Group
- Baxter International, Inc.
- Boehringer Ingelheim GmbH
- Catalent Pharma Solutions, Inc.
- Cobra Biologics Holding AB
- CordenPharma International
- Dishman Group
- Evonik Industries AG
- Famar Health Care Services
- Fareva Group
- Jubilant Life Sciences Limited
- Kemwell Biopharma Pvt. Ltd.
- Lonza Group Ltd.
- LTS Lohmann Therapie-Systeme AG
- NextPharma Technologies Holding Ltd.
- Nipro Pharma Corporation
- Recipharm AB
- Siegfried AG
- Thermo Fisher Scientific Inc
- Vetter Pharma International GmbH
3. MARKET TRENDS & DRIVERS
- Strong Rise in Pharmaceutical Sales to Drive Demand for Pharmaceutical Contract Manufacturing
- Emergence of Outsourcing Trend Bodes Well for CDMOs
- Pharmaceutical Contract Manufacturers Adopt Advanced Manufacturing Technologies
- Embracing Emerging Technologies
- Exploring & Exploiting New Technologies for Rich Dividends
- Rapid Growth of Generic Drugs Drives Demand for Pharma Contract Manufacturing
- Increasing Significance of Biologic Drugs Fuels Innovations Supports Demand for Pharmaceutical Contract Manufacturing Market
- Aging Population & Increasing Burden of Chronic Diseases Spurs Pharma Product Sales, Driving Market Growth
- Persistent Increase in Pharmaceutical R&D Bodes Well for PCM
- Pharmaceutical R&D Spending Worldwide (USD Billion): 2015-2025
- Increasing Sales of OTC Drugs Presents an Opportunity for Pharma Contract Manufacturing Market
- Increasing Outsourcing of Clinical Trials to Emerging Markets
- New Technology Promises to Improve Sterile Manufacturing Process
- Serialization Drives New Design Developments in Pharma Sector
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 192
For more information about this report visit https://www.researchandmarkets.com/r/ekbwl7
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