Los Angeles, December 3, 2019 –QY Research has added a new report to its archive of pharma and healthcare market research studies. Titled “Global Pharmaceutical Contract Manufacturing and Contract Market Report 2018,” the new report provides unique and accurate analysis on competition and other factors both positively and negatively impacting the global pharmaceutical contract manufacturing and contract market. As per the findings offered in the report, the global pharmaceutical contract manufacturing and contract market is projected to reach a value of above US$100.0 Bn by the end of 2025, rising at a robust growth rate of 6.2% between 2019 and 2025. In 2018, the global market value touched over US$70.0 Bn.
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Strong Requirement for Advanced Biological Therapy Predicted to Boost Market Growth
The global pharmaceutical contract manufacturing and contract market is anticipated to increase its growth on the back of key growth drivers such as rising demand for next-gen biological therapies. High profits associated with commercial and clinical-stage manufacturing through contract manufacturing organizations could further add to the demand for pharmaceutical contract manufacturing and contract services. High penetration of contract development and manufacturing organization model in the pharmaceuticals industry is expected to create rewarding prospects for players in future. Increasing pharmaceutical research and development investments could also work in the favor of the global pharmaceutical contract manufacturing and contract market.
Large Enterprises Likely to Create Demand with Increasing Pipeline and Pricing Challenges
On the basis of type, the global pharmaceutical contract manufacturing and contract market is segmented into active pharmaceutical ingredient, injectable, oral, and others. Important applications of pharmaceutical contract manufacturing and contract services covered in the report are large enterprise and small and medium-size enterprise. According to market experts, large enterprises are anticipated to increase the demand in the global pharmaceutical contract manufacturing and contract market due to certain factors such as pipeline challenges, pricing pressure, and increasing development of new therapies and drugs.
North America Expected to Gain Growth with Rise in Demand for Specialty Drugs
Strong demand for liquid and semi-solid formulations and sterile and oral dose formulations is likely to support the growth of the North America pharmaceutical contract manufacturing and contract market. Increase in the demand for specialty drugs could be a powerful factor helping with the expansion of the pharmaceutical contract manufacturing and contract market in North America. High cancer burden, favorable government initiatives to further improve the healthcare industry, and growing number of clinical trials are also expected to contribute to the regional market growth.
Players Anticipated to Enter into Acquisition Agreements to Strengthen Capabilities
Some of the key players competing in the global pharmaceutical contract manufacturing and contract market are Catalent, Jubilant, Thermo Fisher Scientific, Zhejiang Huahai, Lonza, Zhejiang Hisun, Boehringer Ingelheim, Dr. Reddy’s, Fareva, Mylan, Recipharm, Piramal, Aenova, AbbVie, Shandong Xinhua, Baxter, Vetter, Nipro Corp, Sopharma, and Famar. Players are expected to sign acquisition and collaboration deals to expand their products and services portfolio. Such strategic agreements could help them to improve their client base in other countries and gain competitive advantage.
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