Global Pharmaceutical Contract Manufacturing Market to Reach $130.2 Billion by 2026

SAN FRANCISCO, June 29, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Pharmaceutical Contract Manufacturing - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 18; Released: April 2021
Executive Engagements: 3679
Companies: 192 - Players covered include Abbvie Inc; Aenova Group; Ajinomoto Althea, Inc.; Alcami Corporation; Almac Group; Baxter International, Inc.; Boehringer Ingelheim GmbH; Catalent Pharma Solutions, Inc.; Cobra Biologics Holding AB; CordenPharma International; Dishman Group; Evonik Industries AG; Famar Health Care Services; Fareva Group; Jubilant Life Sciences Limited; Kemwell Biopharma Pvt. Ltd.; Lonza Group Ltd.; LTS Lohmann Therapie-Systeme AG; NextPharma Technologies Holding Ltd.; Nipro Pharma Corporation; Recipharm AB; Siegfried AG; Thermo Fisher Scientific Inc; Vetter Pharma International GmbH and Others.
Coverage: All major geographies and key segments
Segments: Product Type (API/Bulk Drugs, Advanced Drug Delivery Formulations, Packaging, Finished Dose Formulations, Other Product Types); Application (Pharmaceutical, Biopharmaceutical); End-Use (Sterile, Non-Sterile)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; India; Rest of Asia-Pacific; Rest of World.

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ABSTRACT-

Global Pharmaceutical Contract Manufacturing Market to Reach $130.2 Billion by 2026
Pharmaceutical contract manufacturing refers to outsourcing of the manufacturing function of pharmaceutical products. Outsourcing manufacturing processes allows hiring pharmaceutical companies to allocate its precious resources on core competencies - drug research and product commercialization. Growth in the global market is set to be driven by positive trends in the broader pharmaceuticals market which is in turn driven by growth in the emerging markets. The robust demand for medication and therapeutics in the emerging economies, coupled with the increasing commercialization of generics and emerging technologies are anticipated to spur growth in the market. With the market gradually inching towards biopharmaceuticals, with several of such drugs being developed by start-up or smaller biotech companies who either have no or limited production capabilities is also fueling growth in pharmaceutical contract services. Increasing geriatric patient population, growing consumption of medicines, rising healthcare expenditure, improvising healthcare infrastructure in emerging markets and mounting pressure to reduce healthcare costs are other factors driving market growth.

Amid the COVID-19 crisis, the global market for Pharmaceutical Contract Manufacturing estimated at US$100 Billion in the year 2020, is projected to reach a revised size of US$130.2 Billion by 2026, growing at a CAGR of 4.6% over the analysis period. API/Bulk Drugs, one of the segments analyzed in the report, is projected to record a 4.4% CAGR and reach US$81.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Advanced Drug Delivery Formulations segment is readjusted to a revised 3.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $31.6 Billion in 2021, While China is Forecast to Reach $21.1 Billion by 2026
The Pharmaceutical Contract Manufacturing market in the U.S. is estimated at US$31.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$21.1 Billion by the year 2026 trailing a CAGR of 5.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. The presence of a significant number of pharmaceutical and biopharmaceutical companies, and several of the leading firms worldwide, together sizable number of contract manufacturers puts the US and Europe ahead in the global market. The US represents the largest market, driven by healthcare reforms and the replacement of branded drugs with generics following patent expiries of these drugs. Lower labor costs, presence of significant talent pool and growing domestic markets are some of the factors driving growth in the Asia-Pacific region.

Packaging Segment to Reach $15.6 Billion by 2026
Contract manufacturing organizations are increasingly adopting newer and efficient ways to packaging, thereby increasing demand for new machinery. Efforts are underway to automate packaging of personalized cell and gene therapies. In the global Packaging segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8 Billion in the year 2020 will reach a projected size of US$11.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.4 Billion by the year 2026. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com 
Email: [email protected] 

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