Volatile economic conditions in European countries are exerting extensive cost containment pressures on companies in the global pharmaceutical manufacturing market. In such conditions, these companies are compelled to explore new ways to cut down the cost of drug manufacturing. As a result, there is an increasing trend of outsourcing manufacturing facilities. Pharmaceutical players are increasingly depending on contract manufacturing and packaging services to meet their fundamental needs and specified competencies, while fulfilling the stringent regulations. Moreover, these companies are shifting focus from manufacturing the formulated drugs towards research and development of novel drugs to stay relevant in the market. Owing to the aforementioned factors, the global pharmaceutical contract manufacturing market is likely to tread along a healthy growth track over the forecast horizon.
Moreover, the influx of small and virtual startups with negligible manufacturing capacity is augmenting the global pharmaceutical contract manufacturing market. The rising number of the U.S. FDA-approved manufacturing facilities in developing countries is also working in favor of the growth of the market.
The key regions studied in the research report are Asia Pacific, Europe, North America, and Rest of the World. North America and Europe are anticipated to represent a large share in the global pharmaceutical contract manufacturing market. The growth of these regions is supplemented by the growing geriatric population and high uptake of biologics. The increasing research activities by biotechnology companies and the rising demand for generics are also contributing to the growth of the regions. The U.S. will be a major revenue contributor in the North America market. The Asia Pacific region is estimated to emerge as a lucrative market during the forecast period owing to the improving healthcare infrastructure and increasing favorable government initiatives.
The majority of the players in the global pharmaceutical contract manufacturing market are pouring funds to enhance their in-house capabilities in order to meet the dynamic needs of today’s marketplace. Mergers and acquisitions activities are among the key strategies adopted by players to strengthen their market position. Large pharmaceutical companies are also forming partnerships with contract manufacturing organizations to achieve vertical integration. Some of the key players in the global pharmaceutical contract manufacturing market are Althea Technologies, Aenova, Dishman Pharmaceuticals and Chemicals Limited, Catalent Pharma Solutions, HAUPT Pharma AG, Famar, Kemwell Pvt. Ltd., Jubilant Life Sciences Limited, Nipro Corp., NextPharma, Recipharm, Pfizer Central Source, and Royal DSM N.V.
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