Pharmaceutical Contract Development and Manufacturing Market Worth $226.35 Billion by 2029 - Exclusive Report by Meticulous Research®
Pharmaceutical Contract Development & Manufacturing Market by Service {Manufacturing [API, FDF (Parenteral, Tablet, Capsule, Oral Liquid)], Drug Development, Biologics Manufacturing, Packaging}, End User [Large Pharma, Generic] - Global Forecast to 2029
Redding, California, April 08, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Pharmaceutical Contract Development & Manufacturing Market by Service {Manufacturing [API, FDF (Parenteral, Tablet, Capsule, Oral Liquid)], Drug Development, Biologics Manufacturing, Packaging}, End User [Large Pharma, Generic]—Global Forecast to 2029,’ published by Meticulous Research®, the pharmaceutical contract development and manufacturing market is expected to grow at a CAGR of 7.5% from 2022–2029 to reach $226.35 billion by 2029.
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A pharmaceutical contract manufacturing company offers various services to drug companies, including drug development, drug manufacturing and commercial production, drug formulation, biologics manufacturing, and commercial packaging. Pharmaceutical contract development and manufacturing organizations serve companies in the pharmaceutical industry on a contract basis. This allows pharmaceutical companies to outsource functions, enabling scalability and allowing major companies to focus on drug discovery and drug marketing.
The pharmaceutical industry’s complex manufacturing requirements & inclination towards cutting-edge technologies, patent expiration, increasing investments in pharmaceutical R&D, and the outbreak of the COVID-19 pandemic are major factors driving the growth of this market. In addition, the growing demand for cell and gene therapies and personalized medicines and the growth of the High-potency Active Pharmaceutical Ingredients (HPAPI) and Antibody-drug Conjugates (ADC) markets drive the growth of the pharmaceutical contract development and manufacturing market.
The Impact of COVID-19 on the Pharmaceutical Contract Development and Manufacturing Market
The outbreak of the COVID-19 pandemic endangered thousands of lives and boosted the demand for pharmaceuticals, resulting in the development of COVID-19 vaccines, antiviral vaccines, antibody therapies, and various pharmaceutical products.
The outbreak of the COVID-19 pandemic resulted in numerous manufacturing units hiring contract development and manufacturing organizations for pharmaceutical drug development & manufacturing in order to sustain their businesses, boosting the growth of the contract development and manufacturing market. Most pharmaceutical companies, contract research organizations, and research institutes are working together to translate research into effective pharmaceutical products. For instance, in April 2021, Lonza Group Ltd (Switzerland) signed an agreement with Moderna Inc. (U.S.) to increase drug substance production for COVID-19 vaccines by installing three additional drug substance manufacturing lines at Lonza’s Visp (CH) site. In June 2021, Lonza extended this agreement by installing a new manufacturing line for drug substance production at its Geleen (NL) site.
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In March 2021, Catalent Inc (U.S.) extended its partnership with Janssen Pharmaceutica NV (Belgium) and Janssen Pharmaceuticals, Inc. (U.S.) to increase the manufacturing of Janssen’s COVID-19 vaccine at Catalent’s manufacturing facility in Anagni, Italy.
The pharmaceutical contract development and manufacturing market is segmented based on service {Pharmaceutical Manufacturing (Pharmaceutical API Manufacturing Services, Pharmaceutical FDF Manufacturing Services [Parenteral/Injectable Manufacturing Services, Tablet Manufacturing Services, Capsule Manufacturing Services, Oral Liquid Manufacturing Services, and Other Formulations]), Drug Development Services, Biologics [API Manufacturing Services, FDF Manufacturing Services], Packaging}, End User (Large Pharmaceutical Companies, Small & Mid-size Pharmaceutical Companies, Generic Pharmaceutical Companies), and Geography. The study also evaluates industry competitors and analyzes their market shares at the global and regional levels.
Based on service, in 2022, the pharmaceutical manufacturing services segment is estimated to account for the largest share of the pharmaceutical contract development and manufacturing market. The large share of this segment is attributed to factors such as the use of advanced technologies and skills for pharmaceutical manufacturing, the growing need to reduce manufacturing costs, the need for high-quality bulk manufacturing, and the increasing demand for generic drugs. However, the biologics manufacturing services segment is slated to register the highest growth rate during the forecast period. The rapid growth of this segment is driven by the rising adoption of advanced technologies for biologics production, the increasing applications of monoclonal antibodies (mAbs), the development of next-generation antibody therapies (such as antibody-drug conjugates), and the increased outsourcing by biopharma and pharma companies.
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Based on end user, in 2022, the large pharmaceutical companies segment is estimated to account for the largest share of the pharmaceutical contract development and manufacturing market. The large share of this segment is attributed to factors such as the rising incidence and prevalence of various diseases resulting in the increased demand for effective medicines and biopharmaceutical products, the growing need for state-of-the-art production processes and technologies, and the increasing costs of clinical trials and early development studies, leading to increased collaborations between pharmaceutical companies and contract manufacturers. However, the generic pharmaceutical companies segment is slated to register the highest growth rate during the forecast period. The high growth of this segment is driven by the increasing competition in the generics market, resulting in pricing pressures and the pharmaceutical industry’s inclination toward cutting-edge technologies offered by contract development and manufacturing companies.
Geographically, in 2022, North America is expected to account for the largest share of the pharmaceutical contract development and manufacturing market, followed by Europe and Asia-Pacific. The large share of this region is mainly attributed to the growing demand for generic drugs and biologics, increasing consolidation of CDMOs, the rising demand for biosimilars due to patent expiry, and increasing expenditures on outsourcing. Furthermore, the contract manufacturing market in North America is highly competitive due to organizations’ emphasis on pharmaceutical and biotechnology research. However, Asia-Pacific is slated to register the highest CAGR during the forecast period. The high market growth in Asia-Pacific is driven by factors such as increasing government focus on the pharmaceutical sector, growth of the region’s manufacturing sector, and the rising incidence & prevalence of chronic illnesses. In addition, rising health awareness and treatment availability, low cost of manufacturing, and increased outsourcing of clinical activities are estimated to contribute to the growth of this regional market during the forecast period.
This report also includes an extensive assessment of the key strategies adopted by leading industry players in the market during 2019–2022. In recent years, the pharmaceutical contract development and manufacturing market has witnessed numerous agreements, collaborations, partnerships, acquisitions, and expansions. For instance, in September 2021, FUJIFILM Diosynth Biotechnologies (Japan) collaborated with LEXEO Therapeutics (U.S.) to support the development and manufacturing of LEXEO’s AAV-mediated gene therapies. Also, in August 2020, Catalent Inc. (U.S.) signed an agreement with AstraZeneca PLC (U.K.) to expand manufacturing support for the University of Oxford’s adenovirus vector-based COVID-19 vaccine AZD1222 at a manufacturing facility located in Harmans, Maryland.
The key players operating in the pharmaceutical contract development and manufacturing market are Thermo Fisher Scientific Inc. (U.S.), Catalent Inc. (U.S.), Lonza Group Ltd (Switzerland), Recipharm AB (Sweden), Vetter Pharma-Fertigung GmbH & Co. KG (Germany), Piramal Enterprises Limited (India), Almac Group (U.K.), Cambrex Corporation (U.S.), Samsung Biologics Co., Ltd (South Korea), Siegfried Holding AG (Switzerland), FUJIFILM Diosynth Biotechnologies (Japan), Aenova Group GmbH (Germany), C.H. Boehringer Sohn AG & Co. KG (Germany), Fareva (France), Fabbrica Italiana Sintetici S.p.A. (Italy), WuXi Biologics (Cayman) Inc. (China), and Aurobindo Pharma Ltd. (India).
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Scope of the Report:
Pharmaceutical Contract Development and Manufacturing Market, by Service
- Pharmaceutical Manufacturing Services
- Pharmaceutical API Manufacturing Services
- Pharmaceutical FDF Manufacturing Services
- Parenteral/Injectable Manufacturing Services
- Tablet Manufacturing Services
- Capsule Manufacturing Services
- Oral Liquid Manufacturing Services
- Other Formulations Manufacturing Services
- Drug Development Services
- Biologics Manufacturing Services
- Biologics API Manufacturing Services
- Biologics FDF Manufacturing Services
- Packaging Services
Pharmaceutical Contract Development and Manufacturing Market, by End User
- Large Pharmaceutical Companies
- Small and Mid-size Pharmaceutical Companies
- Generic Pharmaceutical Companies
Pharmaceutical Contract Development and Manufacturing Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Switzerland
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
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