Under contract manufacturing, the firms provide services such as production of goods by firm, under the label or brand of another firm. In other words, contract manufacturing is managing of one company’s resources by the other company to manufacture its products. A pharma contract manufacturing company provides an array of services to drug companies, including drug development, drug manufacturing and commercial production, and documentation of compliance with FDA regulatory requirements.
Data Bridge Market Research analyses a growth rate in the contract manufacturing market in the forecast period 2022-2029. The expected CAGR of contract manufacturing market is tend to be around 6.95% in the mentioned forecast period. The market was valued at USD 211.9 million in 2021, and it would grow upto USD 362.72 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework..
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Key players operating in the contract manufacturing market include:
- Baxter (U.S.)
- Lonza (Switzerland)
- Recipharm AB (Sweden)
- Jubilant Pharmova Limited (India)
- Catalent, Inc (U.S.)
- Abbvie Inc. (U.S.)
- FAMAR Health Care Services (Spain)
- Pfizer Inc. (U.S.)
- Siegfried Holding AG (Switzerland)
- Boehringer Ingelheim International GmbH (Germany)
- Evonik Industries AG (Germany)
- Avid Bioservices, Inc. (U.S.)
- Merck & Co., Inc (U.S.)
- Dr. Reddy’s Laboratories Ltd (India)
- Sun Pharmaceutical Industries Ltd. (India)
Global Contract Manufacturing Market Dynamics
Drivers
- Increasing Prevalence of Noninvasive Surgical Procedures
In addition, the demand for medicines and medical devices is increasing due to factors such as the widespread use of non-invasive surgery. To meet this growing demand, OEMs outsource manufacturing of non-core manufacturing activities to help reduce labor costs, free capital, increase employee productivity, and improve manufacturing lead times.
- The Option of Outsourcing
Manufacturing biologics using multiple products of plants has proven to be economically efficient and safe, as the risks associated with product carry-over are negligible or non-negligible. Supports the growth of. Rapid changes in the supply chain may be unmanageable due to the tightly regulated medical device industry. Medical device manufacturers selling products in the United States do not need to report actual or potential supply chain bottlenecks to the FDA.
Opportunities
- Rising Incidence of Cardiovascular Diseases
The rising demand for cardiovascular devices as a result of increasing cases of associated conditions is attributed to the growth of outsourcing of these devices. Moreover, the high complexity of cardiovascular devices and the need for technical expertise result in higher outsourcing of these devices.
- Increasing Mergers and Acquisitions
The rising mergers and acquisitions are creating much opportunities in the global contract manufacturing market. For instance, in October 2018, Nordson Corporation acquired Clada Medical Devices, a design & development firm primarily focused on balloon catheters. This enhanced the design & development capabilities of the company, which further supports the company’s position as a prominent contract manufacturer for OEMs across the interventional & surgical device landscape.
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Global Contract Manufacturing Market Scope
The contract manufacturing market is segmented on the basis of service, type and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Service
- Pharmaceutical Manufacturing Services
- Biologics Manufacturing Services
- Drug Development Services
Type
- Active Pharmaceutical Ingredients (API) Manufacturing
- Finished Dosage Formulation (FDF) Development
- Manufacturing and Secondary Packaging
End User
- Big Pharmaceuticals
- Small and Mid-Size Pharmaceuticals
- Generic Pharmaceutical Companies
- Others
Contract Manufacturing Market Regional Analysis/Insights
The contract manufacturing market is analysed and market size insights and trends are provided by service, type and end-user as referenced above. The major countries covered in the contract manufacturing market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
America is dominating the market in the forecast period due to the large number of healthcare services and demand of products for huge storage and repository. Asia-Pacific is considered the most lucrative period due to the increasing number of biobanks and hospitals in the region.
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The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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