PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1543642
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1543642
The global pharmaceutical contract manufacturing market is projected to reach USD 319.6 billion by 2029 from USD 200.9 billion in 2024, at a CAGR of 9.7% during the forecast period of 2024 to 2029. The expansion of the pharmaceutical contract manufacturing market has been primarily propelled by the rising need for generic drugs, which are cost-effective, and the approaching expiration of patents for popular medications. This has compelled companies to prioritize their main functions, leading to increased demand for contract manufacturing services and accelerating the growth of the market.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | Service, End User, and Region |
Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East, Africa |
"The biologics manufacturing services segment is anticipated to experience the highest compound annual growth rate (CAGR) over the period of forecasting that spans from 2024 to 2029."
Based on service, the drug development services, pharmaceutical manufacturing services, biologics manufacturing services, packaging and labelling services, fill-finish services, and other services segment the pharmaceutical contract manufacturing market. It is anticipated that the biologics manufacturing services segment would grow at the highest compound annual growth rate (CAGR) over the period of forecasting in 2024-2029. The growth can be due to the increasing demand for biologics and targeted pharmacological therapies, as well as the rise in the number of studies that are being conducted in the pipeline for cell and gene therapy. Because of these reasons, there is a good chance that segmental growth will be positively affected.
"The growth of the Asia Pacific pharmaceutical contract manufacturing market is likely to be at faster pace during the period of the forecast from 2024-2029."
The segmentations of the pharmaceutical contract manufacturing market include North America, Europe, Asia Pacific, Latin America, and Middle East, and Africa. In 2023, North America accounted for the dominant share of the pharmaceutical contract development and manufacturing market. The dominance of the region is attributable to various factors such as the presence of leading players in the region coupled with the ongoing research activities of pharmaceutical contract Development and Manufacturing. With increasing awareness about personalized therapeutics, growing initiatives in the region by governments for generics medicines, and the entry of new participants into the pharmaceutical contract development and manufacturing market, the pace of growth in the Asia Pacific region is likely to be faster.
This research report categorizes the pharmaceutical contract manufacturing market by service (drug development services, pharmaceutical manufacturing services (pharmaceutical API manufacturing services, pharmaceutical FDF manufacturing services (parenteral, tablet, capsule, oral liquid, semi-solid, other formulations), biologics manufacturing services (biologics API manufacturing services, biologics FDF manufacturing services), packaging & labelling services, fill-finish services, other services)), end user (big pharmaceutical companies, small & medium-sized pharmaceutical companies, generic pharmaceutical companies, others), and by region (North America, Europe, Asia Pacific, Latin America, Middle East, Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the pharmaceutical contract manufacturing market. A detailed analysis of the key industry players has been done to provide insights into their business overview, services, solutions, key strategies, collaborations, partnerships, and agreements. New launches, collaborations and acquisitions, and recent developments associated with the pharmaceutical contract manufacturing market.
The report will assist market leaders and new entrants by providing them with the most accurate estimates of the revenue figures for the entire pharmaceutical contract manufacturing market and its subsegments. Moreover, examining subsegments would improve stakeholders' understanding of the competitive landscape and offer them vital insights to effectively position their company and formulate suitable go-to-market strategies. The objective of this research is to provide stakeholders with a clear understanding of the current market situation. This will be achieved by presenting them with detailed information about the main aspects that impact the industry, such as drivers, restraints, opportunities, and challenges.