The process of developing drugs or APIs is referred to as pharmaceutical contract development and manufacturing services. With rising R&D and manufacturing costs, contract development and manufacturing of pharmaceutical products has become more popular. The contract development and manufacturing company serves drug development and manufacturing services for other pharmaceutical companies on a contract basis. The increasing trend of contract manufacturing among drug companies along with increasing number of pharmaceutical companies are expected to propel market growth during the forecast period.
MARKET SCOPE
The Global Pharmaceutical Contract Development and Manufacturing Market Analysis to 2028 is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the pharmaceutical contract development and manufacturing market with detailed market segmentation by service and end user. The report provides key statistics on the market status of the leading pharmaceutical contract development and manufacturing market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on service the market is segmented as, drug development services, biologics manufacturing services, and pharmaceutical manufacturing services.
- Based on end user the market is segmented as, generic pharmaceutical companies, small & mid-size pharmaceutical companies and big pharmaceutical companies.
MARKET DYNAMICS
Drivers:
- Increasing trend of contract manufacturing among drug companies.
- Increasing number of pharmaceutical companies.
- Patent expiration of existing drugs and growing demand for generic medicines is also expected to spur the market growth during the forecast period.
- Growing R&D expenditures by drug companies.
Restraints:
- However, presence of stringent regulatory framework is expected to restrain market growth during the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The pharmaceutical contract development and manufacturing market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the pharmaceutical contract development and manufacturing market in these regions.
IMPACT OF COVID-19 ON PHARMACEUTICAL CONTRACT DEVELOPMENT AND MANUFACTURING MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the pharmaceutical contract development and manufacturing market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from pharmaceutical contract development and manufacturing market are anticipated to lucrative growth opportunities in the future with the rising demand for pharmaceutical contract development and manufacturing in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the pharmaceutical contract development and manufacturing market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- AbbVie Inc.
- Almac Group
- Catalent, Inc.
- Evonik
- Lonza
- Recipharm AB (publ)
- Siegfried Holding AG
- Aenova Group GmbH
- Vetter Pharma International GmbH
- Samsung Biologics