Contract Manufacturing Market Share, Demand, Industry Trends, Growth Opportunities and Revenue Outlook
A wide ranging Global Contract Manufacturing Market research report involves major parameters namely market analysis, market definition, market segmentation, key developments in the market, competitive analysis, and research methodology. Depending on client’s requirements, massive business, product and market related information is brought together via this report that eventually helps businesses create better strategies. The report has across-the-board and comprehensive market insights which are based on business intelligence. No stone is left unturned while researching and analysing data to prepare market research report like this one and the others. The persuasive Global Contract Manufacturing Market report helps unearth the general market conditions, existing trends and tendencies.
The time-consuming manufacturing and ineffective production for several things and management are major burdens for public and private sector organizations. They are also essential for addressing complex challenges because a single organization is less effective in driving the change and sometimes required outcomes. The contract manufacturing companies will act as rising opportunities for both governmental and private sectors
The global contract manufacturing market is supportive and aims to reduce the manufacturing efforts of healthcare organizations. Data Bridge Market Research analyses that the global contract manufacturing market will grow at a CAGR of 6.2% during the forecast period of 2023 to 2030.
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The global contract manufacturing market is driven by the factors such as rising technical advancements and cost effectiveness of pharmaceutical and pipeline products enhances its demand as well as rising investment in research and development leads to the market growth. Currently, healthcare expenditure has increased across developed and emerging countries that is expected to create a competitive advantage for manufacturers to develop new and innovative products.
Drivers
- Cost-effectiveness for the manufacturing companies
The time-consuming manufacturing and ineffective production for several things and management are major burdens for public and private sector organizations. They are also essential for addressing complex challenges because a single organization is less effective in driving the change and sometimes required outcomes. The contract manufacturing companies will act as rising opportunities for both governmental and private sectors
The rising demand for contract manufacturing with improved accuracy and less time constraint pushes the key players for strategic initiatives. Owning contract manufacturing frees up the overhead charges required to invest in machinery, material, and another workforce, simplifying the production process and streamlining the supply chain by reducing the overall cost.
However, major market players are investing heavy capital in manufacturing to reach the demands of their end users. The contract manufacturing players are involved in making the strategies and implementing them by reducing the cost of production of these players. Contract manufacturing services to other firms also ensure efficiency and optimum usage of resources by using effective workforce, strategic intelligence, or working resources required in the production cycle.
- Rise of technological advancements in contract manufacturing
Introducing a new drug in the market promptly requires considerable investments in manufacturing due to the escalated demand in the pharmaceutical industry. Advanced technologies and skills are mandatory as some drugs have complex formulas and require specific equipment and techniques when mass-produced.
The usage of innovative technologies such as machine learning, big data, and artificial intelligence to develop pharmaceutical drugs or manufacture medical devices are being considered for rapid and quick manufacturing. These technical advancements also help in mass production and scalability in a short span of time.
Market Developments
- In February 2023, Thermo Fisher Scientific, the world leader in serving science, and Celltrio, a leading manufacturer of robotics-based solutions for the life sciences industry, announced their collaboration to bring a fully automated cell culture system to biotherapeutics customers.
- In January 2023, Thermo Fisher Scientific announced to work with AstraZeneca to develop a solid tissue and blood-based companion diagnostic (CDx) test for Tagrisso (osimertinib). The CDx will help identify patients with non-small cell lung cancer (NSCLC) who may be eligible for treatment with Tagrisso by identifying tumors that exhibit epidermal growth factor receptor (EGFR) alterations including exon 21 L858R mutations, exon 19 deletions or T790M mutations.
- In March 2023, Evonik Industries AG announced the opening of a new GMP facility to manufacture lipids for advanced pharmaceutical drug delivery applications. The lipid launch facility is located at the company’s site in Hanau, Germany, and provides customers with quantities of lipids as needed for clinical and small-scale commercial manufacturing.
- In February 2023, Evonik Industries AG partnered with AMSilk to manufacture sustainable silk proteins. This has helped the company to grow.
- In November 2022, Lonza, a preferred partner to the pharmaceutical, biotech, and nutraceutical markets, launched an innovative new capsule solution for intestinal (enteric) drug delivery. The Capsugel Enprotec capsule does not disintegrate during stomach transit and only releases its contents in the intestine. Capsugel Enprotect capsules significantly simplify the drug product manufacturing process by mitigating the need for additional capsule coating or sealing.
- In January 2023, U.S. FDA accepted the supplemental new drug application for Jardiance for adults with chronic kidney disease.
- In October 2021, Boehringer Ingelheim International Gmbh. inaugurated its state-of-the-art biopharmaceutical production facility, Large Scale Cell Culture (LSCC), in Vienna, Austria, with an investment volume of more than 700 million EUR, the single largest investment in the company’s history.
Report Scope and Market Segmentation
| Report Metric | Details |
| Forecast Period | 2023 to 2030 |
| Base Year | 2022 |
| Historic Years | 2021 (Customisable to 2015-2020) |
| Quantitative Units | Revenue in USD Million, Pricing in USD |
| Segments Covered | By Product (Medical Devices Manufacturing, Pharmaceutical Products Manufacturing), End User (Original Equipment Manufacturer, Medical Device Companies, Pharmaceutical Companies, Biotechnology Companies, Biopharma Companies, Research Institutes), Distribution Channel (Direct Tender, Retail Sales, Others) |
| Countries Covered | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of Middle East and Africa |
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Major Players
Data Bridge Market Research recognizes the following companies as the market players in the global contract manufacturing market are Aenova Group (Germany), Thermo Fisher Scientific, Inc.(U.S.), EVONIK INDUSTRIES AG (Germany), Lonza (Switzerland), Boehringer Ingelheim International GmbH. (Germany),Catalent, Inc (U.S.), NIPRO PHARMA CORPORATION (Japan), Pfizer Inc.(U.S.), Recipharm AB.(Sweden),Vetter(Germany), TE Connectivity (Switzerland), Merck KGaA (Germany), Almac Group (U.K.), Jubilant Pharma Limited (U.S.), Avid Bioservices, Inc. (California), Baxter (U.S.), KIMBALL ELECTRONICS INC (U.S.), and AbbVie Inc.(U.S.).among others.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
Contract Manufacturing Market Segmentation
Product
- Medical Device Manufacturing
- Pharmaceutical Products Manufacturing
On the basis of product, the global contract manufacturing market is segmented into medical device manufacturing and pharmaceutical products manufacturing.
End User
- Pharmaceutical Companies
- Biotechnology Companies
- Biopharma Companies
- Medical Device Companies
- Original Equipment Manufacturer
- Research Institutes
On the basis of end user, the global contract manufacturing market is segmented into original equipment manufacturer, medical device companies, pharmaceutical companies, biotechnology companies, biopharma companies, and research institutes.
Distribution Channel
- Retail Sales
- Direct Tender
- Others
On the basis of distribution channel, the global contract manufacturing market is segmented into direct tenders, retail sales, and others.
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Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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