Pharmaceutical Contract Manufacturing & Contract Research Market Outlook 2031:
The global pharmaceutical contract manufacturing & contract research market size was valued at USD 226.60 Billion in 2022 and is projected to reach USD 420.11 Billion by 2031, expanding at a CAGR of 7.1% during the forecast period 2023 - 2031.
The growth of the market is attributed to the growing investments in pharmaceutical R&D, increasing demand for generics, and upsurge in investments in advanced manufacturing technology.
Contract manufacturing includes the production of products by the firm, beneath the name or the brand of another firm. As per the requirements of consumer’s designs, formulas, and specifications; the contract manufacturers provide the product to the firm. On the other hand, a contract research organization (CRO) provides research services for various firms that are associated with the medical device and pharmaceutical manufacturing companies.
The CRO offers services and conduct research programs related to assay development, clinical research, commercialization, clinical trial management, biopharmaceutical development, and preclinical research. The CRO reduces the costs for the firms developing drugs and new medicines in the markets by offering services to the pharmaceutical industry from drug development to manufacturing.
The COVID-19 pandemic outbreak made the world to witness lockdown, travel restriction, and high burden on healthcare services, which adversely impacted the world business. The CRO and CMO market are also largely affected by the pandemic due sudden disruption of global supply chain and halt of the manufacturing units worldwide. However, as the pandemic increasingly gets subsided globally, the market is projected to recover soon and start picking up its normal business operations.
Pharmaceutical Contract Manufacturing & Contract Research Market Trends, Drivers, Restraints, and Opportunities
- Reduced production cost of APIs, increasing price pressure, and rising focus on the cost reduction are the major factors driving the market growth.
- Large financing in personnel, infrastructure, and technology due to rising demand as a result of the decline in patent of the biologic drugs are propelling the market growth.
- High number of patent expiry of several drugs in the market is a key factor expected to accelerate the market expansion in the coming time.
- Strict rules and guidelines regarding the process of contract manufacturing due to complexity of regulations across countries is a major challenge that can hamper the market expansion.
- Increasing development of new novel drugs, high benefits from the outsourcing to the company, reduced burden, and cost-effective method are the central factors offering better opportunities for the market growth during the projected period.
Scope of Pharmaceutical Contract Manufacturing & Contract Research Market Report
The report on the global pharmaceutical contract manufacturing & contract research market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Pharmaceutical Contract Manufacturing & Contract Research Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Services (Manufacturing [API/Bulk Drugs, Advanced Drug Delivery Formulations Packaging, Packaging, Finished Dose Formulations {Solid Formulations, Liquid Formulations, and Semi-solid Formulations}] and Research [Oncology, Vaccines, Inflammation & Immunology, Cardiology, Neuroscience, and Others])
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Catalent; Pharmaceutical Product Development LLC; AbbVie; Baxter BioPharma Solutions; Patheon; Grifols International, S.A.; Dalton Pharma Services; Boehringer Ingelheim Biopharmaceuticals GmBh; and Lonza AG
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Pharmaceutical Contract Manufacturing & Contract Research Market Segment Insights
Manufacturing segment is expected to grow at a rapid pace
Based on services, the global pharmaceutical contract manufacturing & contract research market is bifurcated into manufacturing and research.
The manufacturing segment is further segmented into advanced drug delivery formulations packaging, API/bulk drugs, packaging, and finished dose formulations. The finished dose formulation is further divided into liquid formulations, solid formulations, and semi-solid formulations. Whereas, the research segment is sub-segregated into oncology, inflammation & immunology, cardiology, neuroscience, vaccines, and others.
The manufacturing segment is expected to grow at a rapid pace during the forecast period owing to the increasing demand for high potency active pharmaceutical ingredients (HPAPI) and rapid growth of API methods.
The finished dose formulation segment is expected to incline at a significant pace due to the advancements in the production. Meanwhile, the solid dosage form segment is projected to register a significant growth rate in the coming years due to high outsourcing of powdered formulations.
North America is anticipated to constitute a key market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
The market of North America is anticipated to constitute a key market share during the projected period owing to the increasing number of firms outsourcing the projects in the region. High number of drug approvals as well as research institutes are other key drivers of the regional market growth.
Meanwhile, the market of Asia Pacific is projected to grow at a healthy growth pace in the coming years owing to high investment of CROs in the region due to low-cost development process and availability of lower cost labor. However, the market of Latin America is expected to grow at a moderate growth rate in the coming years owing to the factor of low cost of product development and presence of major market players in the region.
Segments
The global pharmaceutical contract manufacturing & contract research 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
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Catalent
- Pharmaceutical Product Development LLC
- AbbVie
- Baxter BioPharma Solutions
- Patheon
- Grifols International, S.A.
- Dalton Pharma Services
- Boehringer Ingelheim Biopharmaceuticals GmBh
- Lonza AG
Competitive Landscape
Key players competing in the global pharmaceutical contract manufacturing & contract research market are Dalton Pharma Services; AbbVie; Catalent; Grifols International, S.A.; Pharmaceutical Product Development LLC; Baxter BioPharma Solutions; Patheon; Boehringer Ingelheim Biopharmaceuticals GmBh; and Lonza AG.
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