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.
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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.
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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.
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