The Global Contract Pharmaceutical Manufacturing Market, by Service Type (Contract Manufacturing Organization (CMO) (API Manufacturing, Final Dosage Form Manufacturing and Packaging) and 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) was valued at US$ 127.9 billion in 2018, and is projected to exhibit a CAGR of 9.3% during the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Increasing number of key contract pharmaceutical manufacturers in the market are adopting in-organic growth strategies to capture higher market share and become more competitive in the market.
For instance, in January 2016, Genpact and iContracts collaborated to support pharmaceutical, biotech, and medical device companies to transform its contract management operations with an innovative operating model, in order to significantly reduce costs and improve accuracy and speed.
In March 2018, PAREXEL International Corporation formed an alliance with CHA Medical Group (CHA) to enhance early phase clinical development in South Korea.
Furthermore, in October 2018, Lonza announced expansion of its highly potent API (HPAPI) capacity for specific support of antibody drug conjugate (ADC) payload manufacturing. Antibody drug conjugate (ADC) is a form of Immuno-conjugate or bio-conjugate, which are designed for high-specificity targeting and destruction of cancer cells.
Browse 33 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 2026’
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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 August 2016, Teva Pharmaceuticals Industries strengthened its position in the generic drugs market through acquisition of the generic segment of Allergan, plc for US$ 40.5 billion. This resulted in significant growth in revenue contribution of its generic drug segment, pegged at US$ 9.5 billion in 2016.
In August 2018, Altasciences signed a definitive agreement to acquire preclinical testing business of SNBL U.S.A. This acquisition 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).
Key Takeaways of the Contract Pharmaceutical Manufacturing Market:
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