Global Contract Pharmaceutical Manufacturing Market, by Service Type (Contract Manufacturing Organization (CMO) (API Manufacturing, Final Dosage Form Manufacturing, and Packaging), Contract Research Organization (CRO) (Drug Discovery, Preclinical Studies, Early Phase I – IIa, Phase IIa – III, Phase IIIb – IV, Medical Coding and Writing, Monitoring, Clinical Data Management, Bio-statistics, Site Management and Protocol Development)), by Molecule Type (Small Molecules and Large Molecules), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2017-2030.
Increasing number of inorganic growth strategies such as collaboration by key market players in order to expand their product portfolio is expected to drive growth of the global contract pharmaceutical manufacturing market. For instance, in February 2020, Catalent, Inc., a multinational Pharmaceutical company announced to acquire MaSTherCell Global, Inc., a dynamic and global contract development and manufacturing organization, backed by Great Point Partners, SFPI-FPIM, and Orgenesis Inc., for an aggregate of US$ 315 million in cash, subject to a customary adjustments.
Furthermore, Recipharm AB (Sweden), pharmaceutical contract development and manufacturing organizations acquired Arranta Bio (U.S.), Biotechnology Company, to add scientifically differentiated contract development and manufacturing services for ATMPs, Advanced therapy medicinal products, in its service offerings and develop a strong presence in the U.S.
Global Contract Pharmaceutical Manufacturing Market– Impact of Coronavirus (COVID-19) Pandemic
The coronavirus or COVID-19 outbreak started in Wuhan, China in 2019 and has spread across all the continents of the world, affecting various industries globally. The economy in countries all over the world such as India, Italy, Bangladesh, Sri Lanka, the U.S., Morocco, and others has been disrupted due to lockdowns implemented by governments to combat the spread of coronavirus since 2020.
Due to increase in Covid-19 pandemic, companies have scaled up manufacturing and R&D efforts to develop and distribute vaccines and drugs against the SARS-CoV-2 virus.
For instance, on 23 February 2022, the U.K. government mutually donated 1 million doses of the Oxford-AstraZeneca vaccine to Bangladesh to fight against the coronavirus pandemic and the country’s economic recovery.
Moreover, in August 2020, Catalent, a multinational pharmaceutical company, signed an agreement with AstraZeneca, a British-Swedish multinational pharmaceutical and biotechnology company, to expand manufacturing support of Covid-19 vaccine AZD1222 to the University of Oxford’s adenovirus vector-based COVID-19 vaccine at Catalent’s commercial gene therapy manufacturing facility located in Harmans, Maryland.
Thus, impact of the Coronavirus (COVID-19) pandemic has driven growth of the global contract pharmaceutical manufacturing market during the forecast period.
Browse 41 Market Data Tables and 38 Figures spread through 224 Pages and in-depth TOC on ‘Contract Pharmaceutical Manufacturing Market, by Service Type (Contract Manufacturing Organization (CMO) (API Manufacturing, Final Dosage Form Manufacturing, and Packaging), Contract Research Organization (CRO) (Drug Discovery, Preclinical Studies, Early Phase I – IIa, Phase IIa – III, Phase IIIb – IV, Medical Coding and Writing, Monitoring, Clinical Data Management, Bio-statistics, Site Management and Protocol Development), by Molecule Type (Small Molecules and Large Molecules), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2030’
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Furthermore, mergers and acquisitions between generic drug manufacturers, with major players focusing on enhancing its product portfolio through inorganic strategies, will support the addition of generic drug portfolio into company’s offering and thus, generating demand for CMOs to fulfil it.
For instance, in February 2021, Charles River Laboratories International, Inc., an American pharmaceutical company, announced that it has signed a definitive agreement to acquire Cognate BioServices, Inc., a premier, cell and gene therapy contract development and manufacturing organization (CDMO), for approximately US$ 875 million in cash,subject to customer adjustments.
Moreover, in August 2018, Altasciences, contract research organization signed a definitive agreement to acquire preclinical testing business of SNBL, U.S., physical and biological research and development services. This agreement will add preclinical safety testing services to Altasciences’ full-service clinical and bio-analytical offerings. In April 2018, Frontage Laboratories acquired Concord Biosciences, formerly known as Ricerca Biosciences, a preclinical contract research organization (CRO).This agreement will help to provide pharmaceutical product development services from lead selection to investigational new drug-enabling studies to commercialization.
Key Takeaways of the Global Contract Pharmaceutical Manufacturing Market: