The global pharmaceutical
contract development and manufacturing market is projected to reach USD
126.6 billion by 2024 from USD 90.0 billion in 2019, at a CAGR of 7.1%. Growth
in this market is driven by the rising demand for generics, increasing
investments in pharmaceutical R&D, and investments in advanced
manufacturing technologies by CDMOs.
The Asia Pacific region is expected to grow at the highest rate
in the pharmaceutical contract development and manufacturing market in 2019
The market in
the Asia Pacific is estimated to grow at the highest CAGR during the forecast
period. This is due to its growing manufacturing sector, favorable government
regulations, increasing emphasis on off-patent drugs, and highly skilled
workforce, all of which are driving outsourcing of pharmaceutical contract
development and manufacturing to the Asia Pacific.
Key Market Players
The prominent
players in the market include Thermo Fisher Scientific Inc. (US), Catalent,
Inc. (US), Lonza Group Ltd (Switzerland), Recipharm AB (Sweden), Vetter Pharma
International GMBH (Germany), FAMAR Health Care Services (Greece), AbbVie Inc.
(US), Aenova Group (Germany), Consort Medical plc (UK), Almac Group (UK),
Siegfried Holding AG (Switzerland), Boehringer Ingelheim International GmbH
(Germany), and Evonik Industries AG (Germany).
Recent Developments
- In
2019, Lonza Group launched its CellBio Services.
- In
2019, Thermo Fisher invested USD 150 million in its Pharma Services
business segment to expand its manufacturing capacity for sterile liquid
and lyophilized product development and commercial manufacturing.
- In
2019, Catalent launched OneBio Suite.
- In
2018, Lonza expanded its Drug Product Services (DPS).
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