Global Pharmaceutical Contract Development and Manufacturing Market

Pharmaceutical Contract Development and Manufacturing Market Size, Share, Growth Analysis, By Service(Pharmaceutical Manufacture, Drug Development), By End user(Large pharmaceutical firms, small & mid-size pharmaceutical companies) - Industry Forecast 2024-2031

Report ID: SQMIG35J2034 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 63 | Figures: 75

Pharmaceutical Contract Development and Manufacturing Market Dynamics

Pharmaceutical Contract Development and Manufacturing Market Drivers

Rise in Need for Pharmaceuticals for Chronic Illness to Boost Market Growth

  • The market is being driven by the advantages of outsourcing, namely the savings in time and money. To increase their share of outsourcing revenue, market players frequently spend on infrastructure, staff, and technology.
  • The rising prevalence of chronic diseases among the world's population and the steadily growing global human population are the main factors impacting the market’s high growth potential in the years to come. The need for improved production capacity in the pharmaceuticals industry is being driven by the increase in chronic illnesses of all types, including cancer, cardiovascular disease, and infectious diseases.

Pharmaceutical Contract Development and Manufacturing Market Restraints

Shortage of Skilled Labor to Hinder Market Growth

  • Lack of process understanding can occasionally result in a defective product line and damage consumer confidence, risking the agreement between developers, producers, and sellers.
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Pharmaceutical Contract Development and Manufacturing Market size was valued at USD 114.36 billion in 2019 and is poised to grow from USD 122.25 billion in 2023 to USD 222.87 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024-2031).

To improve their market position, players in the industry are concentrating on agreements, partnerships, collaborations, acquisitions, and other tactics. Pharma firms must provide more and better new pharmaceuticals to combat the diseases to which the human body is susceptible in order to combat the rising number of new diseases. 'Catalent', 'Patheon', ' Lonza Group AG   ', ' Thermo Fisher Scientific, Inc.   ', ' Boehringer Ingelheim GmbH   ', ' Evonik Industries AG   ', ' Recipharm AB   ', ' Vetter Pharma International GmbH   ', ' WuXi AppTec Co. Ltd.   ', ' Famar Health Care Services   ', ' Almac Group   ', ' Jubilant Life Sciences Limited   ', ' Samsung BioLogics   ', ' PRA Health Sciences   ', ' Cambrex Corporation   ', ' Ajinomoto Bio-Pharma Services   ', ' Syneos Health   ', ' Mylan N.V.   ', ' AMRI Global   ', ' Baxter BioPharma Solutions '

The market is being driven by the advantages of outsourcing, namely the savings in time and money. To increase their share of outsourcing revenue, market players frequently spend on infrastructure, staff, and technology.

With the rise in cancer incidence and the creation of safe and efficient medications thanks to technical advancements, the market for oncology treatments has expanded quickly. Because of the growing demand for potent, focused medicines and the ability of compounds to be more selective towards the target of interest to reduce dosing frequencies, there is an increasing interest in highly potent New Chemical Entities (NCEs).

The pharmaceutical contract development and manufacturing market is anticipated to be dominated by North America in 2022, followed by Europe and Asia-Pacific. The substantial share of this region is primarily linked to expanding generic medicine and biologics demand, CDMO consolidation, rising need for biosimilars due to patent expiry, and rising outsourcing costs. Furthermore, the focus on pharmaceutical and biotechnology research by organisations has made the contract manufacturing business in North America extremely competitive.

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