The Latin America pharmaceutical contract manufacturing organization market size is anticipated to expand at a significant CAGR during the forecast period 2021–2028. Growth of the market is attributed to rising healthcare expenditure, increasing demand for cost control in drug development, and rising investments in pharmaceutical for research & development.
Contract manufacturing organization is a corporation that assists other companies in the pharmaceutical sector on a contract basis to provide broad services from drug manufacturing through drug development. This permits major pharmaceutical players to overcome those phases of the business.
The Covid-19 pandemic affected the demand and supply of Latin America pharmaceutical contract manufacturing organization market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing access to advanced technologies is projected to boost the market.
- Rising demand for biological therapies is the major factor fueling the market.
- Lack of manufacturing standardization is projected to restrict the market expansion during the forecast period.
- High price of services is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in pharmaceutical contract manufacturing organization market is projected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the Latin America pharmaceutical contract manufacturing organization 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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Latin America Pharmaceutical Contract Manufacturing Organization Market – Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018-2019
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Forecast Period
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2021-2028
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Segmentation
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Service Types [Finished Dosage Formulation Development & Manufacturing (Injectable Dose Formulation, Solid Dose Formulation, and Liquid Dose Formulation), Secondary Packaging, and Active Pharmaceutical Ingredient Manufacturing(High Potency API[HPAPI], Small Molecules, and Large Molecules)], End-users [Healthcare Providers and Healthcare Payers]
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Geographical Scope
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Ecuador, Colombia, Mexico, Chile, Argentina, Brazil, and Rest of the Latin America
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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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Lonza Group; Pfizer CentreSource [Pfizer Inc]; Boehringer Ingelheim Group; Jubilant Life Sciences Ltd.; Recipharm AB; Famer SA; Aenova Group; Baxter Biopharma Solutions [Baxter International Inc.]; Thermo Fisher Scientific Inc.[Patheon Inc.]; and Catalent Inc.
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Market Segment Insights
The finished dosage formulation development & manufacturing accounts for a key share of the market
Based on service types, the Latin America pharmaceutical contract manufacturing organization market is fragmented into finished dosage formulation development & manufacturing, secondary packaging, and active pharmaceutical ingredient manufacturing. The finished dosage formulation development and manufacturing segment is sub-segmented into injectable dose formulation, solid dose formulation, and liquid dose formulation. The active pharmaceutical ingredient manufacturing segment is sub-segmented into high potency API [HPAPI], small molecules, and large molecules. The finished dosage formulation development & manufacturing accounts for a key share of the market. Growth of the market is attributed to growing focus on specialty medicines and rapid growth in the nuclear medicines sector. However, the active pharmaceutical ingredient manufacturing segment is anticipated to expand at a rapid pace during the forecast period due to factors such as advancement in cell & gene therapies, growing number of cell therapy candidates, and rapid progression through the various phases.
The healthcare payers accounts for a key share of the market
Based on end-users, the market is divided into healthcare providers and healthcare payers. The healthcare payers accounts for a key share of the market. Growth of the market is attributed to increasing demand for facilities that offer manufacturing services, high demand for end-to-end services in big pharmaceuticals, and growing demand for biosimilar and vaccines. However, the healthcare providers are anticipated to expand at a rapid pace during the forecast period due to factors such as growing need to streamline execution costs, increasing number of clinical trials, and presence of leading pharmaceutical companies.
Brazil is anticipated to hold significant market share
On the basis of region, the Latin America pharmaceutical contract manufacturing organization market is categorized as Ecuador, Colombia, Mexico, Chile, Argentina, Brazil, and Rest of the Latin America. The market of Mexico is estimated to expand at a high CAGR during the forecast period due to growing demand for generic medicines, growth in scientific curiosity in the medicinal areas, and innovation of new drugs to fight against high-potency diseases. The market of Brazil is estimated to hold significant market share due to regulatory approval of the drug, increasing demand for next-generation biological therapies, and growing government initiatives in healthcare sector.
Segments
Segments Covered in the Report
The Latin America pharmaceutical contract manufacturing organization market has been segmented on the basis of
Service Types
- Development and Manufacturing
- Injectable Dose Formulation
- Solid Dose Formulation
- Liquid Dose Formulation
- Secondary Packaging
- Active Pharmaceutical Ingredient Manufacturing
- High Potency API[HPAPI]
- Small Molecules
- Large Molecules
End-users
- Healthcare Providers
- Healthcare Payers
Geography
Key Players
- Lonza Group
- Pfizer CentreSource [Pfizer Inc]
- Boehringer Ingelheim Group
- Jubilant Life Sciences Ltd.
- Recipharm AB
- Famer SA
- Aenova Group
- Baxter Biopharma Solutions [Baxter International Inc.]
- Thermo Fisher Scientific Inc. [Patheon Inc.]
- Catalent Inc.
Competitive Landscape
Key players competing in the Latin America pharmaceutical contract manufacturing organization market include Lonza Group; Pfizer CentreSource [Pfizer Inc]; Boehringer Ingelheim Group; Jubilant Life Sciences Ltd.; Recipharm AB; Famer SA; Aenova Group; Baxter Biopharma Solutions [Baxter International Inc.]; Thermo Fisher Scientific Inc.[Patheon Inc.]; and Catalent Inc.
Some of these players are using several market strategies such as capacity expansion, product launches, merger, partnerships, collaborations, and acquisitions to enhance their market shares and raise their production line of the business in the coming years.
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