Latin America Pharmaceutical Contract Manufacturing & Research Services Market

Latin America Pharmaceutical Contract Manufacturing & Research Services Market by Services (Manufacturing [API/Bulk Drugs, Advanced Drug Delivery Formulations Packaging, Packaging, and Finished Dose Formulations {Solid Formulations, Liquid Formulations, and Semi-solid Formulations}] and Research [Oncology, Vaccines, Inflammation & Immunology, Cardiology, Neuroscience, and Others]) and Geography (Brazil, Mexico, Chile, Venezuela, and Rest of Latin America) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028.

  • Report ID: HC-2335
  • Author: Growth Market Reports
  • Rating: 4.7
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  • No. Of Pages: 214
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The Latin America pharmaceutical contract manufacturing & research services market size was valued at USD 15.57 billion in 2020 and is projected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising competition of pharmaceutical products, insufficient capital resources, drugs demand shortfall, and patent expiration of drugs.


Latin America Pharmaceutical Contract Manufacturing & Research Services Market

Contract manufacturing refers to the production of products by the firm using the name or the brand of another firm. The contract manufacturing organization (CMO) provide products to the firm focusing on the requirements of consumer’s designs, formulas, and specifications. A contract research organization (CRO) specializes in providing several research activities for firms that are related to the medical device and pharmaceutical industries. The CRO offers research services in several key domains such as pharmacovigilance, biologic assay development, biopharmaceutical development, clinical trial management, preclinical research, and clinical research. Moreover, the organization helps reducing the costs for the firms associated with the developing of drugs and new medicines in the markets. It also offers services to the pharmaceutical industry including from the drug development to manufacturing of the products.

The COVID-19 pandemic outbreak had hampered the regional market as the world witnessed travel restriction, emergency lockdown, and extensive burden on healthcare services.  Moreover, sudden disruption in the supply chain, shutting down of manufacturing units, and shifted focus of the healthcare sector towards control management of COVID-19 spread had negatively impacted the overall market growth. However, as the pandemic situation increasingly started getting better in several regions and to some extent globally, the market was slowly recovering and started picking up its normal business operations due to rising demand for pharmaceutical drugs for various infectious diseases.

Market Trends, Drivers, Restraints, and Opportunities

  • High number of patent expiry of several drugs in the market is a key driving factor of the market and is expected to push the market growth in the coming years.
  • Decreased production cost of APIs, increasing price pressure, and rising focus on the cost reduction are the major factor driving the growth of the market.
  • Growing change of drug developers’ preference from cost control to value-added solutions, risk sharing between CMOs and pharmaceutical companies, and launch of novel technical facilities, are some major factors driving the market.
  • Dynamic changes in the pharmaceutical sector combined with severe burden over the heavy expenses for installation of healthcare infrastructure and technology are key challenges. These factors are expected to act as major restraints to the regional market expansion.
  • Rising new novel drugs, high benefits from the outsourcing to the company, reduced burden, and cost-effective method are some of the central factors putting better opportunities for the market development during the projected period.

Scope of the Report

The report on the Latin America pharmaceutical contract manufacturing & research services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Latin America Pharmaceutical Contract Manufacturing & Research Services Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Services (Manufacturing [API/Bulk Drugs, Advanced Drug Delivery Formulations Packaging, Packaging, and Finished Dose Formulations {Solid Formulations, Liquid Formulations, and Semi-solid Formulations}] and Research [Oncology, Vaccines, Inflammation & Immunology, Cardiology, Neuroscience, and Others])

Geographical Scope

Brazil, Mexico, Chile, Venezuela, and Rest of Latin America

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

AbbVie, Inc.; Boehringer Ingelheim GmbH; Lonza; Pfizer, Inc. (Pfizer CenterOne); Covance, Inc. (LabCorp); Charles River Laboratories International, Inc.; Albany Molecular Research, Inc.; QuintilesIMS; Pharmaceutical Product Development, LLC; Recipharm AB.

Market Segment Insights

Manufacturing segment is expected to grow at a rapid pace

Based on services, the Latin America pharmaceutical contract manufacturing & research services market is bifurcated into manufacturing and research. The manufacturing segment is sub-segregated into advanced drug delivery formulations packaging, API/bulk drugs, packaging, and finished dose formulations. The finished dose formulation segment is further classified as liquid formulations, solid formulations, and semi-solid formulations. The research segment is divided into oncology, neuroscience, vaccines, cardiology, inflammation & immunology, and others. The manufacturing segment is expected to grow at a rapid pace during the projected period owing to the rising focus for huge number of companies towards outsourcing of production of active pharmaceutical ingredients to finished drug product. The demand for outsourced drugs development is in surge globally due to the scarcity of expertise and limited capacity of the existing production units. The outsourcing gives advantages to the firms in the form of reduced cost of production, less use of resources, and good quality products. This is why, the demand for contract manufacturing is increasing.

The research segment, however, is anticipated to register a fast growth rate in the near future especially due to decrease in clinical testing cost and rapid expansion of clinical testing procedures due to wide research programs.  


Latin America Pharmaceutical Contract Manufacturing & Research Services Market

Brazil is anticipated to constitute a key market share

In terms of geography, the Latin America pharmaceutical contract manufacturing & research services market is classified as Brazil, Mexico, Chile, Venezuela, and Rest of Latin America. Brazil is anticipated to constitute a key market share during the forecast period owing to the rising biotechnology firms in north-eastern part of the country. Furthermore, the presence of large number of GMP-certified plants in the country along with small manufacturing costs are appealing the investors from different regions to launch their firms in this country. Additionally, surge in pharmaceutical spending supports the development of more advanced healthcare systems in the country. In recent time, Brazil has unveiled one of the largest universal healthcare systems in the world - the Sistema Único de Saúde for advancing the healthcare system in the country. This is estimated to propel the growth of pharmaceutical industry in Brazil.

The market of Mexico, however, is expected to grow at a substantial rate during the forecast period due to growing number of drug manufacturing units in the country. Mexico is the second-largest market in Latin America for pharmaceutical contract manufacturing. With growing sales of generics as well as number of generic drugs, the contract manufacturing market is growing rapidly in the country.


Latin America Pharmaceutical Contract Manufacturing & Research Services Market

Segments

Segments Covered in the Report

The Latin America pharmaceutical contract manufacturing & research services market has been segmented on the basis of

Services

  • Manufacturing
    • API/Bulk Drugs
    • Advanced Drug Delivery Formulations Packaging
    • Packaging
    • Finished Dose Formulations
      • Solid Formulations
      • Liquid Formulations
      • Semi-solid Formulations
  • Research
    • Oncology
    • Vaccines
    • Inflammation & Immunology
    • Cardiology
    • Neuroscience
    • Others

Geography

  • Brazil
  • Mexico
  • Chile
  • Venezuela
  • Rest of Latin America

Key Players

  • AbbVie, Inc. 
  • Boehringer Ingelheim GmbH
  • Pfizer, Inc. (Pfizer CenterOne)
  • Covance, Inc. (LabCorp)
  • Lonza
  • Charles River Laboratories International, Inc.
  • Albany Molecular Research, Inc.
  • QuintilesIMS
  • Pharmaceutical Product Development, LLC
  • Recipharm AB.

Competitive Landscape

Key players competing in the Latin America pharmaceutical contract manufacturing & research services market are AbbVie, Inc.; Boehringer Ingelheim GmbH; Pfizer, Inc. (Pfizer CenterOne); Covance, Inc. (LabCorp); Lonza; Charles River Laboratories International, Inc.; Albany Molecular Research, Inc.; QuintilesIMS; Pharmaceutical Product Development, LLC; and Recipharm AB.

Latin America Pharmaceutical Contract Manufacturing & Research Services Market

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Pharmaceutical Contract Manufacturing & Research Services Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Pharmaceutical Contract Manufacturing & Research Services Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Pharmaceutical Contract Manufacturing & Research Services Market - Supply Chain
  4.5. Global Pharmaceutical Contract Manufacturing & Research Services Market Forecast
     4.5.1. Pharmaceutical Contract Manufacturing & Research Services Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Pharmaceutical Contract Manufacturing & Research Services Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Pharmaceutical Contract Manufacturing & Research Services Market Absolute $ Opportunity
5. Global Pharmaceutical Contract Manufacturing & Research Services Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Pharmaceutical Contract Manufacturing & Research Services Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Pharmaceutical Contract Manufacturing & Research Services Demand Share Forecast, 2019-2026
6. North America Pharmaceutical Contract Manufacturing & Research Services Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Pharmaceutical Contract Manufacturing & Research Services Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Pharmaceutical Contract Manufacturing & Research Services Demand Share Forecast, 2019-2026
7. Latin America Pharmaceutical Contract Manufacturing & Research Services Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Pharmaceutical Contract Manufacturing & Research Services Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Pharmaceutical Contract Manufacturing & Research Services Demand Share Forecast, 2019-2026
8. Europe Pharmaceutical Contract Manufacturing & Research Services Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Pharmaceutical Contract Manufacturing & Research Services Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Pharmaceutical Contract Manufacturing & Research Services Demand Share Forecast, 2019-2026
9. Asia Pacific Pharmaceutical Contract Manufacturing & Research Services Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Pharmaceutical Contract Manufacturing & Research Services Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Pharmaceutical Contract Manufacturing & Research Services Demand Share Forecast, 2019-2026
10. Middle East & Africa Pharmaceutical Contract Manufacturing & Research Services Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Pharmaceutical Contract Manufacturing & Research Services Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Pharmaceutical Contract Manufacturing & Research Services Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Pharmaceutical Contract Manufacturing & Research Services Market: Market Share Analysis
  11.2. Pharmaceutical Contract Manufacturing & Research Services Distributors and Customers
  11.3. Pharmaceutical Contract Manufacturing & Research Services Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)

Segments Covered in the Report

The Latin America pharmaceutical contract manufacturing & research services market has been segmented on the basis of

Services

  • Manufacturing
    • API/Bulk Drugs
    • Advanced Drug Delivery Formulations Packaging
    • Packaging
    • Finished Dose Formulations
      • Solid Formulations
      • Liquid Formulations
      • Semi-solid Formulations
  • Research
    • Oncology
    • Vaccines
    • Inflammation & Immunology
    • Cardiology
    • Neuroscience
    • Others

Geography

  • Brazil
  • Mexico
  • Chile
  • Venezuela
  • Rest of Latin America

Key Players

  • AbbVie, Inc. 
  • Boehringer Ingelheim GmbH
  • Pfizer, Inc. (Pfizer CenterOne)
  • Covance, Inc. (LabCorp)
  • Lonza
  • Charles River Laboratories International, Inc.
  • Albany Molecular Research, Inc.
  • QuintilesIMS
  • Pharmaceutical Product Development, LLC
  • Recipharm AB.

Key players competing in the Latin America pharmaceutical contract manufacturing & research services market are AbbVie, Inc.; Boehringer Ingelheim GmbH; Pfizer, Inc. (Pfizer CenterOne); Covance, Inc. (LabCorp); Lonza; Charles River Laboratories International, Inc.; Albany Molecular Research, Inc.; QuintilesIMS; Pharmaceutical Product Development, LLC; and Recipharm AB.

Latin America Pharmaceutical Contract Manufacturing & Research Services Market

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