Pharmaceutical Contract Manufacturing 2018: Global Market Forecast to Reach $146.4 Billion by 2023 - API to Dominate the Market by Service Type - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 16, 2018--The “Global Pharmaceutical Contract Manufacturing Market - Segmented By Service Type (API, FDF (Solid Dose, Liquid Dose, Injectable Dose), Secondary Packaging, Geography - Growth, Trends, and Forecasts (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The global pharmaceutical contract manufacturing market was valued at US$92.314 billion in 2017. This market is expected to reach US$146.41 billion by 2023, at a CAGR of 8.08% during the forecast period (2018-2023).
Owing to the growing demand for generic medicines and biologics, capital-intensive nature of the business, and complex manufacturing requirements, many pharmaceutical companies have identified the potential profitability in contracting with a CMO (contract manufacturing outsourcing) for both clinical and commercial stage manufacturing. Moreover, the pharmaceutical companies have been directing their priorities toward the core areas of competency, and hence, prefer not to dispense available resources, expertise, and technology on formulating the final dose of medicines.
The biggest factor driving the growth of CMOs in the pharmaceutical industry is the growing need for state-of-the-art processes and production technologies, which have proven highly effective in meeting regulatory requirements. However, factors, such as stringent regulations and high logistics costs are restraining the market.
Key HighlightsIncreasing Investments on R&D to Drive the Market Growth API to Dominate the Market by Service Type Owing to Hydroelectricity Concerned Activities in the United States, the Utility Sector Accounts for the Largest Share
Recent DevelopmentsOctober 2017: Catalent Inc., had acquired Cook Pharmica LLC, an integrated provider of drug substance and drug product manufacturing and related services. This acquisition strengthened Catalent’s position as a leader in biologics development and analytical services, manufacturing and finished product supply. Their complementary capabilities and expertise will help customers accelerate biologic drug development programs and bring better treatments to patients, worldwide. June 2017: Recipharm, a leading contract development and manufacturing organization (CDMO) and Kancera, a development company focused on cancer therapy, have signed a contract for the development and manufacture of the pharmaceutical candidate, KAND567.
Companies MentionedCatalent Inc Recipharm AB Jubilant Life Science Patheon Inc Boehringer Ingelheim Pfizer Centresource Aenova Famar Baxter Biopharma Solutions Lonza
Key Topics Covered
2. Research Approach and Methodology
3. Market Insights
4. Market Dynamics
5. Technology Snapshot
6. Global Pharmaceutical Contract Manufacturing Market Segmentation
7. Competitive Landscape
8. Competitive Intelligence - Company Profiles
9. Investment Scenario
10. Future of the Global Pharmaceutical Contract Manufacturing Market
For more information about this report visit https://www.researchandmarkets.com/research/fmnsgf/pharmaceutical?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180516005613/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Infusions and Injectables,Pharmaceutical Packaging
INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES PHARMACEUTICAL
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 05/16/2018 06:45 AM/DISC: 05/16/2018 06:45 AM