What is the global market size of the Pharmaceutical Contract Development and Manufacturing Market?

Global Pharmaceutical Contract Development and Manufacturing Market size was valued at USD 114.36 billion in 2021 and is poised to grow from USD 122.25 billion in 2022 to USD 222.87 billion by 2030, growing at a CAGR of 6.9% in the forecast period (2023-2030).

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

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

Pharmaceutical Contract Development and Manufacturing Market News

In February 2022, Recipharm AB (Sweden) acquired Arranta Bio (U.S.) to add scientifically differentiated contract development and manufacturing services for ATMPs in its service offerings and develop a strong presence in the U.S.

In February 2021, Charles River Laboratories International, Inc. (U.S.) acquired Cognate BioServices, Inc. (U.S.) for $875 million to add cell and gene therapy CDMO capabilities.

Pharmaceutical Contract Development and Manufacturing Market Report Snapshots

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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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Pharmaceutical Contract Development and Manufacturing Market News

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