Pharmaceutical Contract Research and Manufacturing Market size is set to grow by USD 121.35 billion from 2022-2027 | The availability of cost-efficient resources in emerging markets to drive the market growth - Technavio

NEW YORK, Nov. 29, 2023 /PRNewswire/ -- The Pharmaceutical Contract Research and Manufacturing Market size is estimated to increase by USD 121.35 billion, accelerating at a CAGR of 10.32% from 2022 to 2027, according to Technavio. A major driver behind the growth of the Pharmaceutical Contract Research and Manufacturing Market is the presence of cost-effective resources in emerging markets. Countries like China, India, Brazil, and Mexico have made substantial strides in enhancing their healthcare infrastructure and technological capabilities within drug development. Consequently, pharmaceutical companies of large and medium sizes from developed nations are increasingly subcontracting the research and manufacturing operations of various drugs and therapies to companies in these countries. A primary factor driving this trend is the availability of labor at relatively lower costs compared to those in developed nations. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) Buy the report

Global Pharmaceutical Contract Research and Manufacturing Market- Segmentation Assessment
Segment Overview

Technavio is segmented the market based on Service (CMO and CRO), End-user (Big pharmaceuticals, Small and medium-sized pharmaceuticals, and Generic pharmaceuticals), and Geography (North America, Asia, Europe, and Rest of World (ROW)). 

• The CMO (Contract Manufacturing Organization) segment is expected to experience substantial market share growth during the forecast period. CMOs refer to entities that contractually produce drugs, vaccines, and various pharmaceutical products for pharmaceutical companies and biotechnology firms. Progress in medical sciences and the increasing use of specialized medicines, alongside advancements like nanotechnology and stem cell research, are giving rise to drugs. These advancements are driving the need for more intricate manufacturing procedures.

Geography Overview
By geography, the global pharmaceutical contract research and manufacturing (cram) market is segmented into North America, Asia, Europe, and Rest of World (ROW). The report provides actionable insights and estimates the contribution of all regions to the growth of the global pharmaceutical contract research and manufacturing (cram) market.

• Asia is projected to account for 41% of the global market growth during the forecast period. North America stands out as another region presenting substantial growth prospects for companies.

Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Global Pharmaceutical Contract Research and Manufacturing Market– Market Dynamics
Leading trends influencing the market 

• Patent expiries driving market growth by enabling entry of lower-priced generics and biosimilars.
• Outsourcing generic drug manufacturing to CMOs in emerging nations (like India) due to cost efficiency, available labor, and Asia's generic drug market dominance.

Major challenges hindering the market growth

• Stereotypical perceptions of CMOs impede CRAM market growth.
• Asian CMOs, despite dominating the market, face limitations in accessing advanced technologies, resulting in reliance on older methods and constraints in large-scale production of biological drugs and vaccines due to complexity and high manufacturing costs.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report

What are the key data covered in this Pharmaceutical Contract Research And Manufacturing (CRAM) Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Pharmaceutical Contract Research and Manufacturing Market between 2023 and 2027
• Precise estimation of the size of the Pharmaceutical Contract Research and Manufacturing Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Pharmaceutical Contract Research and Manufacturing Market  across North America, Asia, Europe, and Rest of World (ROW)

Related Reports:

Pharmaceutical Continuous Manufacturing Market: The global pharmaceutical continuous manufacturing market size is estimated to grow by USD 548.94 million at a CAGR of 12.74% between 2023 and 2028.

Contract Research Organization (CRO) Market: The Global Contract Research Organization (CRO) Market size is estimated to grow by USD 52.46 billion between 2022 and 2027 accelerating at a CAGR of 11.75% during the forecast period.

TOC

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Service
7. Market Segmentation by End-User
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
13. Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio