Global Cytotoxic Drugs Contract Manufacturing Market, by Production Scale (Industrial Scale, Pilot Scale, and Laboratory Scale), by Form (Liquid, and Solid), by Product Type (Oral and Intravenous), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 6,285.2 million in 2018, and is expected to exhibit a CAGR of 9.1% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
Governments in emerging economies such as India are focusing on initiatives to increase domestic production. For instance, in August 2017, according to the Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers of government of India proposed 'peak customs duty' and suggested setting up of bulk drug parks to increase domestic production. Furthermore, rapid growth in the pharmaceutical industry in the Asia Pacific region is expected to propel growth of cytotoxic drug contract manufacturing market in the Asia Pacific region during the forecast period. For instance, in September 2019, according to the Indian Brand Equity Foundation (IBEF), India pharmaceutical industry is expected to reach US$ 55 Bn by 2020.
Increasing investment by the market players, in order to expand their service and product offerings is expected to boost growth of the cytotoxic drugs contract manufacturing market over the forecast period. For instance, in October 2017, Lonza Group established Lonza Collaborative Innovation Center (CIC) in new Life Science Park in Haifa, Israel. With this, Lonza aims to accelerate leading R&D projects across Lonza's Pharma & Biotech segment, and tap into potentially transformative biological and manufacturing capabilities.
Browse 38 Market Data Tables and 27 Figures spread through 193 Pages and in-depth TOC on ‘Cytotoxic Drugs Contract Manufacturing Market’- Global Forecast to 2027, by Production Scale (Industrial Scale, Pilot Scale, and Laboratory Scale), by Form (Liquid, and Solid), by Product Type (Oral and Intravenous), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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North America is expected to dominate cytotoxic drugs contract manufacturing market over the forecast period, owing to adoption of growth strategies such as product launches, investments, facility expansion by the market players in the region to expand their market presence. For instance, in 2016, Cambrex, a leading small molecule API contract manufacturer expanded its facility at Iowa, Charles City-based manufacturing site, adding 1,000- and 4,000 gallon glass-lined reactors in 7,500-square-foot plant.
Moreover, market players are focused on collaboration and acquisition strategies to expand their market presence and enhance facility in the region, which is expected to drive growth of the market over the forecast period. For instance, in November 2017, CordenPharma International, a contract provider of both small-molecule APIs and drug products acquired a Hospira Boulder facility from Pfizer Inc., a 54,000-square-foot API manufacturing facility located in Colorado, U.S. to build its capabilities in high-potency manufacturing. According to the expansion strategy, the new facility specializes in development, scale-up, optimization, and production of highly potent and cytotoxic/cytostatic APIs from development to commercialization stage.
Key Takeaways of the Cytotoxic Drugs Contract Manufacturing Market:
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