Product ID: UCMIR35I2310
Report ID:
UCMIR35I2310 |
Region:
Regional |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The pharmaceutical contract manufacturing and research services market in Latin America had a total value of USD 22.5 billion in the year 2022 and is projected to experience a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. This growth is primarily driven by factors such as drug shortages, tighter financial constraints, increased competition, patent expirations, and limited resources. The adoption of outsourcing is also contributing to market expansion due to its time and cost-saving advantages. Key industry players are consistently investing in technology, infrastructure, and human resources to secure a larger portion of the outsourcing market revenue. In Mexico, a comprehensive regulatory framework has been established to govern pharmaceutical contract manufacturing and research services, with the Federal Commission for Protection against Sanitary Risks (COFEPRIS) serving as the primary regulatory authority overseeing these activities.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Pharmaceuticals by segment aggregation, the contribution of the Pharmaceuticals in Pharmaceuticals, Biotechnology & Life Sciences and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIR35I2310