Selbyville, Delaware, July 22, 2021 (GLOBE NEWSWIRE) — As per expert analysts, global pharmaceutical contract manufacturing market size was worth USD 99.8 billion in 2020 and is projected to record a CAGR of 7.5% over 2021-2027, subsequently accumulating USD 165.57 billion by the end of the forecast period.
The document incorporates systematic segmental inspection of this business sphere, including services, end user scope, and geographical ambit. It also delivers insights into the competitive landscape by evaluating top players on the basis of their product/service portfolio, financial parameters, along with strategic developments like mergers, partnerships, and investments.
Additionally, the document devotes a separate section for industry value chain assessment, giving elaborate details concerning the downstream consumers, upstream providers, and vendors.
Surging demand of drugs and biologics, along with rising investment in research & development of drugs are the key factors driving global pharmaceutical contract manufacturing market growth.
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Statista cited global pharmaceutical industry worth to be over 1.27 trillion dollars in 2020, up from 390 billion dollars in 2001. It also indicated that global pharmaceutical research & development investment exceeded 186 billion USD in 2019, up from 136 billion USD in 2012.
The United States was the world’s largest pharmaceutical market in 2019, with over USD 490 billion in revenue, and at the same time, Europe generated USD 195 billion. Similar investments from various organizations are opening expansion opportunities for the businesses in this domain.
In addition, patent expiration of various drugs has encouraged the production of generics further adding to the overall market outlook.
For the unaware, pharmaceutical contract manufacturing is the process in which pharmaceutical corporations outsource API manufacturing, drug development, or biologic manufacture to contractors. This is done to ensure the ongoing delivery of high-quality products to customers at a reasonable cost, as well as surge in production capacity and an improved focus on the company’s overall productivity and efficiency, resulting in higher revenues.
Despite the positive outlook, issues related to serialization of drugs at every stage of supply chain is likely to hinder worldwide pharmaceutical contract manufacturing industry expansion.
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Geographical terrain summary
Asia Pacific, North America, Europe, and Latin America are the major growth avenues for the businesses operating in global pharmaceutical contract manufacturing market sphere. Of these, North America presently holds significant portion of the overall market share, owing to presence of major pharmaceutical players in the region, and high per capital income.
Meanwhile, Asia Pacific industry is expected to amass high returns throughout 2021-2027, attributable to increasing initiatives by government to make the region a pharmaceutical hub, and rising disposable income.
Global Pharmaceutical Contract Manufacturing Market by Services (Value, USD Billion, 2018-2027)
- Biologics Manufacturing Services
- Drug Development Services
- Pharmaceutical Manufacturing Services
Global Pharmaceutical Contract Manufacturing Market by End User Scope (Value, USD Billion, 2018-2027)
- Generic Pharmaceutical Companies
- Small & Medium-Sized Pharmaceutical Companies
- Big Pharmaceutical Companies
Global Pharmaceutical Contract Manufacturing Market Geographical Bifurcation (Value, USD Billion, 2018-2027)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
Rest of The World
Global Pharmaceutical Contract Manufacturing Market Top Vendors (Value, USD Billion, 2018-2027)
- Baxter BioPharma Solutions
- QuintilesIMS (IQVIA)
- Covance Inc. (LabCorp)
- Albany Molecular Research Inc. (AMRI Global)
- Charles River Laboratories International Inc.
- Pfizer Inc. (Pfizer CenterOne)
- Jubilant Life Sciences Ltd.
- Grifols S.A
- Lonza Group AG
- Boehringer Ingelheim GmbH
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Pharmaceutical Contract Manufacturing Market, by Services, 2019-2027 (USD Billion)
1.2.2. Pharmaceutical Contract Manufacturing Market, by End-User, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Pharmaceutical Contract Manufacturing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Pharmaceutical Contract Manufacturing Market Dynamics
3.1. Pharmaceutical Contract Manufacturing Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
22.214.171.124. Exponential growth of the pharmaceutical industry
126.96.36.199. Increased research and development of drugs and biologics
3.1.2. Market Challenges
188.8.131.52. Serialization of drugs in every stage of supply chain
3.1.3. Market Opportunities
184.108.40.206. Increased production of generics after patents expiration
Chapter 4. Global Pharmaceutical Contract Manufacturing Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Pharmaceutical Contract Manufacturing Market, by Services
5.1. Market Snapshot
5.2. Global Pharmaceutical Contract Manufacturing Market by Services, Performance – Potential Analysis
5.3. Global Pharmaceutical Contract Manufacturing Market Estimates & Forecasts by Services 2018-2027 (USD Billion)
5.4. Pharmaceutical Contract Manufacturing Market, Sub Segment Analysis
5.4.1. Pharmaceutical Manufacturing Services
5.4.2. Drug Development Services
5.4.3. Biologics Manufacturing Services
Chapter 6. Global Pharmaceutical Contract Manufacturing Market, by End-User
6.1. Market Snapshot
6.2. Global Pharmaceutical Contract Manufacturing Market by End-User, Performance – Potential Analysis
6.3. Global Pharmaceutical Contract Manufacturing Market Estimates & Forecasts by End-User 2018-2027 (USD Billion)
6.4. Pharmaceutical Contract Manufacturing Market, Sub Segment Analysis
6.4.1. Big Pharmaceutical Companies
6.4.2. Small & Medium-Sized Pharmaceutical Companies
6.4.3. Generic Pharmaceutical Companies
6.4.4. Other End Users
Chapter 7. Global Pharmaceutical Contract Manufacturing Market, Regional Analysis
Pharmacovigilance Outsourcing Market Size, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026
Global Pharmacovigilance outsourcing market is projected to record a significant growth rate over the coming years owing to the increased efficiency and economies of scale. Pharmacovigilance is the science of collecting, assessing, monitoring, evaluating, and researching data from healthcare providers as well as patients pertaining to the adverse effects of vaccines, medical devices, biological products, blood products or any other drug-related problem. It is generally concerned with two outcomes namely safety and efficacy.
The purpose of pharmacovigilance is to ascertain which adverse events cross the line of a drug’s efficacy. Citing an example, chemotherapy is generally known to cause serious side effects, but when met with cancer, the side-effects are deemed acceptable due to the procedure’s potential to cure the patient.
The key areas of pharmacovigilance are systems, operations, surveillance, and Qualified Person for Pharmacovigilance (QPPV). Pharmacovigilance outsourcing could help organizations in addressing the increased volume and complexity of regulatory requirements.
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