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Pharmaceutical Contract Development and Manufacturing Market Worth $134.23 Billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research®

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News provided by

Meticulous Market Research Pvt. Ltd

02 Mar, 2021, 12:30 GMT

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LONDON, March 2, 2021  /PRNewswire/ -- According to a new market research report titled "Pharmaceutical Contract Development and Manufacturing Market by Service [Pharmaceutical Manufacturing Services (API, FDF), Drug Development Services, Biologics Development], End User [Big & Generic Pharmaceutical Companies] – Global Forecast to 2027," published by Meticulous Research®, the pharmaceutical contract development and manufacturing market is expected to grow at a CAGR of 6.5% from 2020 to 2027 to reach $134.23 billion by 2027.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5171

A pharma contract manufacturing company offers various services to drug companies, including drug development, drug manufacturing and commercial production, development of drug formulation, and biological manufacturing. A pharmaceutical CDMO serves pharmaceutical companies on a contract basis to provide all the above comprehensive services. This allows major pharmaceutical companies to outsource those aspects of the business, which can help with scalability or allow the major company to focus on drug discovery and drug marketing.

Complex manufacturing requirements in the pharmaceutical sector, increasing investments in pharmaceutical R&D, increasing outsourcing of clinical trials, and the growing incidence of infectious diseases are some of the leading factors driving the growth of this market. In addition, rising demand for generic medicines & biologics, growing demand for cell & gene therapies, and increasing pharmaceutical outsourcing support the growth of this market.

Impact of COVID-19 on the Pharmaceutical Contract Development and Manufacturing Market

The recent outbreak of COVID-19 has catalyzed the demand for pharmaceuticals and has stirred the development of vaccines, antiviral vaccines, antibody therapy, and various pharmaceutical products.

Due to this pandemic, contract development and manufacturing organizations are witnessing growth as many larger manufacturing units are hiring contract development and manufacturing organizations for pharmaceutical drug development and manufacturing. Most pharmaceutical companies, contract research organizations, and research institutes are working together to translate research into effective pharmaceutical products. For instance, in October 2020, Recipharm AB (Sweden) signed an agreement with Arcturus Therapeutics (U.S.) to support the manufacture of LUNAR-COV19 (ARCT-021) vaccine candidates. In September 2020, Thermo Fisher Scientific Inc. (U.S.) partnered with INOVIO Pharmaceuticals, Inc. (U.S.) to manufacture INOVIO's DNA COVID-19 vaccine candidate INO-4800 and to enhance the commercial production of INO-4800.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5171

In addition, accelerated approvals have been granted to certain drugs, which are expected to show efficiency in the treatment of COVID-19. For instance, the National Medical Products Administration of China has approved the use of Favilavir as a treatment for coronavirus. The drug has reportedly observed beneficial in treating the disease with minimal side effects in a clinical trial involving 70 patients. 

In addition, many vaccines are entering into clinical trials in countries such as Israel, China, Italy, and India. Therefore, due to the high demand for effective drugs for COVID-19 treatment, the production of Chloroquine, vaccines, antibody, and other drugs is expected to increase globally, which is expected to drive the growth of this market.  Flexibility, ready-made capacity, and convenience have been vital for CDMOs in the virotherapy space during the outbreak and will continue to be important in 2021 and beyond to meet the growing demand for viral vector treatments. Virotherapy development and manufacturing capacity will need to increase by 80% over the next decade to meet demand (Source: Vibalogics).

The pharmaceutical contract development and manufacturing market sis mainly segmented by Service [pharmaceutical manufacturing services (API, FDF), drug development services, biologics development], end user [big & generic pharmaceutical companies], and geography. The study also evaluates industry competitors and analyzes their market share at the global level.

Based on service, the biologics manufacturing services segment is slated to grow at the highest CAGR during the forecast period due to the rising adoption of advanced technologies for biological production, increasing applications of monoclonal antibodies (mAbs), development of next-generation antibody therapies, such as antibody-drug conjugates, and focus of the biopharma and pharma companies towards outsourcing of their activities.

Quick Buy – Pharmaceutical Contract Development and Manufacturing Market Research Report: https://www.meticulousresearch.com/Checkout/86251653 

Based on end user, big pharmaceutical companies are estimated to dominate the overall pharmaceutical contract development and manufacturing market in 2020. The major share of this segment is primarily attributed to the growing prevalence of various infectious diseases, the growing need for state-of-the-art processes and production technologies, and the rise in the cost of clinical trials and early development studies.

The report also includes an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past four years. The pharmaceutical contract development and manufacturing market has witnessed several agreements, collaborations, partnerships, acquisitions, & expansions in recent years. For instance, in August 2020, Catalent Inc. (U.S.) signed an agreement with AstraZeneca PLC (U.K.) to expand manufacturing support for the University of Oxford's adenovirus vector-based COVID-19 vaccine AZD1222 at the manufacturing facility located in Harmans, Maryland. Also, in May 2020, Lonza Group Ltd (Switzerland) collaborated with Moderna, Inc. (U.S.) to enable large-scale production of Moderna's mRNA vaccine (Mrna-1273) against SARS-CoV-2.

The pharmaceutical contract development and manufacturing market is a highly consolidated with the presence of major players, such as Thermo Fisher Scientific Inc. (U.S.), Catalent Inc. (U.S.),  PPD Inc. (U.S.), Lonza Group Ltd (Switzerland), Recipharm AB (Sweden) Vetter Pharma-Fertigung GmbH & Co. KG  (Germany), AbbVie Inc. (U.S.), Synoes Health, Inc. (U.S.), Piramal Enterprises Limited (India), Almac Group (U.K.), Albany Molecular Research Inc. (U.S.), Fareva Holding SA (France), and Jubilant Life Sciences Limited (India) among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/pharmaceutical-contract-development-and-manufacturing-market-5171

Scope of the Report:

Pharmaceutical Contract Development and Manufacturing Market, by Service

  • Pharmaceutical Manufacturing Services
    • Pharmaceutical API Manufacturing Services
    • Pharmaceutical FDF Manufacturing Services
      • Parenteral/Injectable Manufacturing Services
      • Tablet Manufacturing Services
      • Capsule Manufacturing Services
      • Oral Liquid Manufacturing Services
      • Other Formulations Manufacturing Services
    • Drug Development Services
    • Biologics Manufacturing Services 
      • Biologics API Manufacturing Services
      • Biologics API Manufacturing Services

Pharmaceutical Contract Development and Manufacturing Market, by End User

  • Big Pharmaceutical Companies
  • Small and Med-Size Pharmaceutical Companies
  • Generic Pharmaceutical Companies

Pharmaceutical Contract Development and Manufacturing Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • Rest of APAC (RoAPAC)
  • Latin America
    • Middle East & Africa

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5171

Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research

Related Reports:

Contract Research Organizations (CRO) Market by Services (Clinical Research [Phase II, Phase III], Pre-Clinical [Pharmacokinetics, Toxicology], Laboratory Services, and others), Therapeutic Area (Oncology, Immunology), End User (Pharma and Biotech, Medical Device), and Geography - Forecast to 2027

https://www.meticulousresearch.com/product/CRO-market-5129/

Pharmaceutical Processing and Packaging Equipment Market by Mode of Drug Delivery (Oral, Parenteral, Topical), Secondary Packaging (Cartooning, Labeling), and End-Of-Line (Case Packaging, Palletizing, and Depalletizing) - Global Forecast to 2025

https://www.meticulousresearch.com/product/pharmaceutical-processing-and-packaging-equipment-market-5021/

Biopharmaceutical Processing Equipment and Consumables Market By Product (Filtration, Chromatography, Columns, Bioreactor, Cell Culture, Service), Application (Commercial, Research), And End User (Pharmaceutical, Biotechnology, CDMO)- Global Forecast to 2023

https://www.meticulousresearch.com/product/biopharmaceutical-processing-equipment-consumables-market-4200

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:

Mr. Khushal Bombe
Meticulous Research®
Direct Lines: +1-646-781-8004 (North America)
+44-203-868-8738 (Europe)
+91 744-7780008 (Asia-Pacific)
Email- sales@meticulousresearch.com 
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/391/pharmaceutical-contract-development-and-manufacturing-market-2027

Logo: https://mma.prnewswire.com/media/1213534/Meticulous_Research_Logo.jpg

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