BCC Research Study Projects a 6.7% CAGR as Outsourcing Partners Shift Focus from Cost Efficiency to Innovation in Response to Growing Industry Challenges
BOSTON, Oct. 15, 2024 /PRNewswire/ -- "According to the latest BCC Research study, the demand for "Global Markets for Contract Pharmaceutical Manufacturing, Research, and Packaging" is estimated to reach $310.2 billion by 2029, at a compound annual growth rate (CAGR) of 6.7% from 2024 through 2029."
The global pharmaceutical contract manufacturing, research, and packaging market is a dynamic landscape poised for substantial growth from 2024 to 2029. BCC Research provides a comprehensive analysis, offering insights into market size starting from 2023 and projections through the next five years. The contract manufacturing segment is meticulously examined across various dimensions including product type, dosage form, drug molecule type, and delivery technologies across different regions. Concurrently, the contract research sector is scrutinized across discovery, preclinical, and clinical research services, highlighting critical functional aspects driving market expansion. Additionally, the contract packaging market encompasses primary, secondary, and tertiary packaging solutions, detailing advancements in bottles, vials, blisters, and other innovative formats. The report also delves into industry trends, identifying drivers, constraints, and emerging opportunities critical for informed strategic decisions in this global arena.
This report is particularly relevant now as the role of outsourcing in the pharmaceutical industry is undergoing a significant transformation. Traditionally seen as mere service providers, outsourcing companies are now evolving into strategic partners, playing a crucial role in the success of pharmaceutical businesses. Pharma companies are no longer just looking for operational support; they seek partners who can contribute to their core business objectives, driving innovation, efficiency, and competitive advantage. This shift underscores the growing importance of collaboration in the industry, making the insights provided in this report essential for staying ahead in the rapidly changing market.
Please click here for more details on "The global market for contract pharmaceutical manufacturing, research, and packaging Report."
The following factors drive the global market for contract pharmaceutical manufacturing, research, and packaging:
Resilient Pharmaceutical Demand: The pharmaceutical industry continues to experience robust demand driven by the ongoing necessity for medications to manage chronic diseases, support aging populations, and address emerging health challenges. This steady demand provides a stable foundation for contract manufacturing and research services in the market.
Need for Speed to Market: Pharmaceutical firms face increasing pressure to swiftly bring new drugs to market to remain competitive and fulfill patient needs. Contract manufacturing organizations (CMOs) and contract research organizations (CROs) play a crucial role in accelerating drug development timelines by offering specialized services and expertise.
Shift to More Complex Oral Therapies: There is a notable trend toward developing complex oral therapies, including formulations requiring controlled release or targeted delivery mechanisms. This shift amplifies the demand for advanced manufacturing and packaging solutions capable of handling these intricate requirements.
Significant Growth in Biologics and Cell and Gene Therapy Market: The biologics and cell and gene therapy sectors are expanding rapidly due to their potential to treat previously incurable conditions. This growth necessitates specialized manufacturing capabilities and research services to support the development and production of these advanced therapies.
Rising Demand for Highly Potent Active Pharmaceutical Ingredients (HPAPIs): Highly Potent Active Pharmaceutical Ingredients (HPAPIs), crucial for targeted therapies, require stringent handling and manufacturing processes due to their potency. The increasing adoption of HPAPIs in novel drug formulations drives demand for specialized contract manufacturing services.
Growing Demand for Generics and Biosimilars: With patents expiring for many blockbuster drugs, there is a surge in the production of generics and biosimilars. These cost-effective alternatives drive the need for efficient manufacturing and packaging solutions to meet growing market demand.
Request a sample copy of the global market for contract pharmaceutical manufacturing, research, and packaging report:
Report Synopsis
Report Metrics | Details |
Base year considered | 2023 |
Forecast Period considered | 2024-2029 |
Base year market size | $212.2 billion |
Market Size Forecast | $310.2 billion |
Growth rate | CAGR of 6.7% for the forecast period of 2024-2029 |
Segment Covered | Manufacturing by Product Type, Manufacturing by Drug Molecule Type, Research by Service Type, Research by Application Type, Packaging by Service Type |
Regions covered | North America, Europe, Asia-Pacific, Rest of the World |
Countries covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, Poland, Denmark, Japan, China, India, Australia, South Korea, Thailand, Singapore, Vietnam, Brazil, Argentina, South America, Middle East Africa, Colombia, Paraguay, Peru |
Key Market Drivers | • Resilient Pharmaceutical Demand • Need for Speed to Market • Shift to More Complex Oral Therapies • Significant Growth in Biologics and Cell and Gene Therapy Market • Rising Demand for Highly Potent Application Program Interfaces (HPAPI)s • Growing Demand for Generics and Biosimilars |
Key Interesting Facts About the global market for contract pharmaceutical manufacturing, research, and packaging:
- Large bio/pharma companies dominate the CDMO market primarily through commercial manufacturing, while small biotechs contribute significantly to the molecule pipeline.
- Drug substances make up approximately 74% of the global contract pharmaceutical manufacturing market.
- Functional service partnership (FSP) outsourcing has seen a significant rise in recent years.
- Large contract research organizations (CROs) with global reach are gaining market share due to increased demand for complex research, patient-centric trials, and enhanced diversity and inclusion in patient populations.
The global market for contract pharmaceutical manufacturing, research, and packaging report includes in-depth data and analysis addressing the following important queries:
1.What is the projected market size and growth rate of the contract pharmaceutical manufacturing, research, and packaging market?
- The global contract pharmaceutical manufacturing, research, and packaging market was estimated to be around $212.2 billion in 2023. It is projected to reach $310.2 billion in 2029, growing at a CAGR of 6.7% during the forecast period.
2.What segments are covered in the market?
- An in-depth analysis of the global contract pharmaceutical manufacturing, research, and packaging market, including historical data and market projection on sales by service type, product type, drug molecule type, application, and region.
3.Which segment will dominate the market by the end of 2029 by service type?
- By service type, the contract manufacturing segment is anticipated to dominate the market by 2029.
4.Which product type market is growing fastest among all?
- Contract manufacturing services are the fastest growing market.
Some of the Key Market Players Are:
- AMCOR PLC
- CATALENT INC.
- CHARLES RIVER LABORATORIES
- ICON PLC
- IQVIA INC.
- LABORATORY CORPORATION OF AMERICA HOLDINGS
- LONZA
- PFIZER INC.
- SCHOTT PHARMA
- THERMO FISHER SCIENTIFIC INC.
- WUXI APPTEC
- WESTROCK CO.
Browse Related Reports:
Biologics Development and Manufacturing Testing: Technologies and Global Markets: This report provides a comprehensive study of the global market for biologics safety testing, aiming to assist in the development of business strategies and informed decision-making. It covers biosafety testing and characterization across various stages including raw materials, cell banks, virus seeds, and drug substances. The market is segmented by application, test application, testing technology, and region of operations, with detailed analyses of market dynamics, regulatory landscapes, technological advancements, and COVID-19's impact. The report also includes insights into industry growth drivers, constraints, trends, and opportunities, alongside competitive landscape assessments and detailed company profiles.
Directly purchase a copy of the report with BCC Research.
For further information or to make a purchase, please get in touch with info@bccresearch.com.
About BCC Research
BCC Research provides objective, unbiased measurement, and assessment of market opportunities with detailed market research reports. Our experienced industry analysts' goal is to help you make informed business decisions, free of noise and hype.
Contact Us
Corporate HQ: 50 Milk St. Ste 16, Boston, MA 02109, USA
Email: info@bccresearch.com,
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com or visit our media page for access to our market research library.
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.
Logo: https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/global-contract-pharmaceutical-manufacturing-research-and-packaging-markets-projected-to-reach-310-2-billion-by-2029--302277018.html
