CHICAGO, Aug. 2, 2024 /PRNewswire/ -- The
global Pharmaceutical Contract Manufacturing Market is
expected to grow from USD 200.9
billion in 2024 to USD 319.6
billion by 2029, at a CAGR of 9.7%. The pharmaceutical
contract manufacturing market is expanding due to the rising costs
of in-house drug development, advancements in CMO technology, and
the integration of AI to enhance efficiency and quality in drug
development and manufacturing. Key drivers include the high
expenses associated with drug R&D and regulatory compliance,
while challenges include varying regulatory requirements and the
complexities of serialization. Emerging markets, particularly in
Asia, present significant growth
opportunities, especially with the shift from China to India due to the Biosecure Act. The market is
dominated by pharmaceutical manufacturing services and is expected
to see the highest growth in large pharmaceutical companies.
North America led the market in
2023, followed by Europe and
Asia Pacific. Major players
include Thermo Fisher Scientific, Lonza Group, and WuXi Apptec,
among others.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=201524381
Browse in-depth TOC on "Pharmaceutical Contract
Manufacturing Market"
148 - Tables
60 - Figures
415 -
Pages
Thermo Fisher Scientific, Inc.: Market Leader in
Pharmaceutical Contract Manufacturing
Thermo Fisher Scientific, Inc. stands as a dominant force in the
pharmaceutical contract manufacturing market, holding the largest
market share in 2023. The company excels with a comprehensive suite
of services, including formulation development, process
development, analytical services, and commercial manufacturing.
Thermo Fisher's substantial market
presence is supported by its broad service offerings and strong
regional and brand recognition. The company's commitment to organic
growth and innovation, such as the introduction of advanced cold
and ultra-cold storage solutions in March
2024, reinforces its market leadership and supports global
clinical trial and biorepository needs.
Catalent, Inc.: Leading CDMO with Advanced Delivery
Systems
Catalent, Inc. is a prominent contract development and
manufacturing organization (CDMO) known for its development
solutions across medicines, biologics, consumer and animal health
products, and sophisticated delivery methods. The company offers a
diverse range of oral, injectable, and respiratory delivery
systems, complemented by patented technologies and services.
Catalent's global network of industrial plants, development hubs,
and sales offices, combined with its focus on collaboration,
underscores its strong position and adaptability in meeting the
needs of the pharmaceutical and biotechnology sectors.
Lonza Group: Integrated Solutions Provider in Pharmaceutical
Manufacturing
The Lonza Group, based in Switzerland, provides integrated solutions
across the pharmaceutical, biotech, consumer health, and specialty
chemical industries. As a leading contract manufacturing
organization (CMO), Lonza offers end-to-end services from molecule
to patient, utilizing various technologies to support the
pharmaceutical value chain. The company serves a wide range of
users, including government research organizations, biotech firms,
pharmaceutical companies, and healthcare product manufacturers.
Lonza's strategic focus on geographic expansion in 2023 highlights
its commitment to broadening its global footprint and enhancing its
market position.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=201524381
Service Segmentation: Pharmaceutical Manufacturing Services
Lead
In 2023, the pharmaceutical contract manufacturing market was
segmented into drug development services, pharmaceutical
manufacturing services, biologic manufacturing services, packaging
& labeling services, fill-finish services, and other services.
The pharmaceutical manufacturing services segment led the market,
driven by the increasing demand for specialized production
facilities, tools, and expertise. Pharmaceutical companies focusing
on their core activities have increasingly outsourced operations
such as API production, further fueling the dominance of this
segment.
End-User Segmentation: Big Pharmaceutical Companies in the
Forefront
The market is divided into big pharmaceutical companies, small
& mid-sized pharmaceutical companies, generic pharmaceutical
companies, and other end users like academic institutes, small
CDMOs, and CROs. The big pharmaceutical companies segment held the
largest share, thanks to the high demand for comprehensive
end-to-end services, pricing pressures, and pipeline challenges
that drive a shift toward outsourcing. This segment's substantial
growth is attributed to major players seeking cost-effective and
efficient solutions.
Regional Insights: North America Leads
The pharmaceutical contract manufacturing market is segmented
into North America, Europe, Asia
Pacific, Latin America,
Middle East, and Africa. In 2023, North America captured the largest market
share, supported by a robust pharmaceutical industry, numerous
ongoing clinical trials, high R&D expenditures, and significant
developments in the biosimilars and generics markets. The presence
of major pharmaceutical companies like Pfizer, Abbott Laboratories,
AbbVie, and Johnson & Johnson, along with increasing investment
in new treatments and research, bolsters North America's leading position. Meanwhile,
other regions are also expanding, with Asia Pacific expected to grow rapidly due to
increasing demand for outsourcing and biopharmaceutical
manufacturing.
For more information, inquire now! Inquire Now
Related Reports:
Contract Research Organization Services Market
Peptide Synthesis Market
Clinical Trial Supplies Market
Bioanalytical Testing Services Market
Bioprocess Containers Market
Get access to the latest updates on Pharmaceutical Contract
Manufacturing Companies and Pharmaceutical Contract
Manufacturing Market Share
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's
best management consulting firms by Forbes, as per their recent
report.
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine
offering to drive supernormal growth for progressive organizations
in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for
clients.
Earlier this year, we made a formal transformation into one of
America's best management consulting firms as per a survey
conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this
$25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a
disruptive ecosystem. Our insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an
analysis of interconnections through a set of applications, helping
clients look at the entire ecosystem and understand the revenue
shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us
on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan
Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo:
https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/pharmaceutical-contract-manufacturing-market-worth-319-6-billion-by-2029-driven-by-rising-tech-innovations--marketsandmarkets-302213284.html