Pharmaceutical Contract Manufacturing And Research Services Market Size | Companies
The pharmaceutical contract manufacturing and research services market size was exhibited at USD 227.65 billion in 2023 and is projected to hit around USD 452.45 billion by 2033, growing at a CAGR of 7.11% during the forecast period 2024 to 2033.
| Report Coverage | Details |
| Market Size in 2024 | USD 243.84 Billion |
| Market Size by 2033 | USD 452.45 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 7.11% |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Segments Covered | Service, Region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional Scope | North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
| Key Companies Profiled | Catalent; Pharmaceutical Product Development LLC; AbbVie; Baxter BioPharma Solutions; Patheon; Grifols International, S.A.; Dalton Pharma Services; Boehringer Ingelheim Biopharmaceuticals GmbH; Lonza AG |
Cost-saving and time-saving benefits associated with the implementation of outsourcing are responsible for driving the market. The market participants are routinely investing in infrastructure, personnel, and technology in order to gain a greater share of the outsourcing revenue. The presence of end-to-end service providers that are engaged in offering value-added services for an integrated or risk-sharing business model is expected to bolster growth in this industry. The COVID-19 pandemic during its advent had temporally affected the supply chain, which is likely to have a negative effect on the market growth.
Changing product portfolio is also responsible for the growth of the service-based market. “One-stop-shop” offered by the CMOs for the promotion of a portfolio of a complete range of products is anticipated to influence the growth of CMOs. The larger CMOs are embracing the trend of moving and focusing on the niche areas of pharmaceutical development. They are focusing on the establishment of regulatory pathways for transgenic-based product development. However, the companies are willing to restrict outsourcing for the manufacturing of complex and big moieties. They are in an opinion of in-house production rather than outsourcing owing to the specific requirements. This, in turn, may act as a challenge for the market.
The COVID-19 pandemic has generated high demand for therapeutics and vaccines owing to the rising spread of the diseases worldwide. Owing to this, several companies had partnered with CMO to speed up the manufacturing of drugs. For instance, in December 2020, a CDMO, Recipharm signed an agreement with a pharmaceutical company Moderna. As per the agreement, Recipharm supported the fill-finish part of the Moderna COVID-19 vaccine for supply to countries outside the U.S. Many public organizations have also provided funding to support the research of COVID-19 vaccines. For instance, as of February 2023, the U.K. government invested USD 119.1 million to support the development of the Oxford/AstraZeneca COVID-19 vaccine. This is expected to have a positive impact on market growth.
The manufacturing segment held the largest revenue share of over 67.0% in 2023. This segment is further segmented into API/bulk drugs manufacturing, advanced drug delivery formulations, packaging, and finished dose formulations. API dominated the market in 2021 as a consequence of the rising demand for High Potency Active Pharmaceutical Ingredients (HPAPI). Market entities are engaged in the development of large-scale manufacturing facilities on a pilot as well as commercial scale.
Finished dose formulations are anticipated to expand at the fastest CAGR of 7.6% over the forecast period. Among these, solid formulations accounted for the largest revenue share in 2023 due to the higher outsourcing done for the powdered formulations. It is expected to witness gradual expansion in the coming years as it represents a significant share of the outsourcing of finished dose formulations. Solid dose manufacturing and oral delivery of new drug candidates, fixed-dose combinations, controlled release dosage forms, and reformulation of existing drugs are some of the factors likely to accelerate the growth of contract manufacturing of solid dosage formulations.
Asia Pacific dominated the market with a revenue share of over 42.0% in 2023 and is projected to grow at a significant rate over the forecast period. This growth is supported by a rise in the number of companies outsourcing projects in the developing economies of this region. In recent years, countries such as Singapore, China, and India have been observed as major players in the pharmaceutical industry owing to their expanding manufacturing capabilities. The cash-rich nature of the Asian companies is responsible for the captive nature of the contract manufacturing sector. The spout of significant investments by Asian CMOs is expected to result in exponential progress.
The Latin American market is anticipated to witness substantial growth over the forecast period as a consequence of the presence of established multinational players in this region. Major entities operating in Brazil are Novartis, Roche, and Pfizer. Latin America holds the potential for transforming into a global hub for the development and production of pharmaceutical products. Factors that are responsible for this transformation include the low cost of product development.
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the pharmaceutical contract manufacturing and research services market
Service
Regional
Chapter 1 Pharmaceutical Contract Manufacturing And Research Services Market: Methodology and Scope
1.1 Market Segmentation & Scope
1.1.1 Service
1.1.2 Regional Scope
1.1.3 Estimates And Forecast Timeline
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal Database
1.3.3 Secondary Sources
1.3.4 Primary Research
1.3.5 Details Of Primary Research
1.4 Information or Data Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity Flow Analysis (Model 1)
1.6.2 Volume Price Analysis (Model 2)
1.7 List of Secondary Sources
1.8 List of Primary Sources
1.9 List of Abbreviations
1.10 Objectives
1.10.1 Objective - 1
1.10.2 Objective - 2
1.10.3 Objective - 3
1.10.4 Objective - 4
Chapter 2 Pharmaceutical Contract Manufacturing And Research Services Market: Executive Summary
2.1 Market Outlook
Chapter 3 Pharmaceutical Contract Manufacturing & Research Market: Variables, Trends, & Scope
3.1 Market Segmentation and Scope
3.2 Market Driver Analysis
3.2.1 Drug shortage driving demand for pharmaceutical development
3.2.2 Commercial success of biologics for clinical use
3.2.3 Lower manufacturing costs and improving economic condition of BRIC
3.3 Market Restraint Analysis
3.3.1 Limited outsourcing opted by big pharma companies
3.3.2 Regulatory issues pertaining to the drug approval
3.4 Penetration & Growth Prospect Mapping
3.5 Porter’s Five Forces Analysis
3.6 PESTEL Analysis
3.7 COVID-19 Analysis
Chapter 4 Pharmaceutical Contract Manufacturing & Research Market: Services Segment Analysis
4.1 Pharmaceutical Contract Manufacturing & Research Market: Market Share Analysis, 2024 & 2033
4.2 Manufacturing
4.2.1 Manufacturing market, 2021 - 2033
4.2.2 API/Bulk Drugs
4.2.2.1 API/Bulk Drugs market, 2021 - 2033
4.2.3 Advanced Drug Delivery Formulations
4.2.3.1 Advanced Drug Delivery Formulations market, 2021 - 2033
4.2.4 Packaging
4.2.4.1 packaging market, 2021 - 2033
4.2.5 Finished Dose Formulations
4.2.5.1 Finished Dose Formulations market, 2021 - 2033
4.2.5.2 Solid
4.2.5.2.1 Solid market, 2021 - 2033
4.2.5.3 Liquid
4.2.5.3.1 Liquid market, 2021 - 2033
4.2.5.4 Semi-solid formulations
4.2.5.4.1 Semi-solid formulations market, 2021 - 2033
4.3 Research
4.3.1 Research market, 2021 - 2033
4.3.2 Oncology
4.3.2.1 Oncology market, 2021 - 2033
4.3.3 Vaccines
4.3.3.1 Vaccines market, 2021 - 2033
4.3.4 Inflammation & Immunology
4.3.4.1 Inflammation & Immunology market, 2021 - 2033
4.3.5 Cardiology
4.3.5.1 Cardiology market, 2021 - 2033
4.3.6 Neuroscience
4.3.6.1 Neuroscience market, 2021 - 2033
4.3.7 Others
4.3.7.1 Others market, 2021 - 2033
Chapter 5 Pharmaceutical Contract Manufacturing & Research Market: Regional Analysis
5.1 Pharmaceutical Contract Manufacturing & Research Market: Market Share Analysis, 2024 & 2033
5.2 North America
5.2.1 North America Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.2.2 U.S.
5.2.2.1 U.S. Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.2.3 Canada
5.2.3.1 Canada Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.3 Europe
5.3.1 Europe Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.3.2 Germany
5.3.2.1 Germany Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.3.3 France
5.3.3.1 France Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.3.4 Italy
5.3.4.1 Italy Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.3.5 Spain
5.3.5.1 Spain Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.3.6 U.K.
5.3.6.1 U.K. Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.3.7 Denmark
5.3.7.1 Denmark Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.3.8 Sweden
5.3.8.1 Sweden Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.3.9 Norway
5.3.9.1 Norway Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.4 Asia Pacific
5.4.1 Asia Pacific Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.4.2 China
5.4.2.1 China Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.4.3 India
5.4.3.1 India Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.4.4 Japan
5.4.4.1 Japan Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.4.5 Australia
5.4.5.1 Australia Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.4.6 South Korea
5.4.6.1 South Korea Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.4.7 Thailand
5.4.7.1 Thailand Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.5 Latin America
5.5.1 Latin America Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.5.2 Brazil
5.5.2.1 Brazil Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.5.3 Mexico
5.5.3.1 Mexico Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.5.4 Argentina
5.5.4.1 Argentina Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.5.5 Colombia
5.5.5.1 Colombia Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.5.6 Chile
5.5.6.1 Chile Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.5.7 VENEZUELA
5.5.7.1 venezuela Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.6 MEA
5.6.1 MEA Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.6.2 South Africa
5.6.2.1 South Africa Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.6.3 Saudi Arabia
5.6.3.1 Saudi Arabia Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.6.4 UAE
5.6.4.1 UAE Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
5.6.5 Kuwait
5.6.5.1 Kuwait Pharmaceutical Contract Manufacturing & Research Market, 2021 - 2033
Chapter 6 Competitive Landscape
6.1 Strategy Framework
6.2 Market Participation Categorization
6.3 Company Profiles
6.3.1 Boehringer Ingelheim GmbH
6.3.1.1 Company overview
6.3.1.2 Financial performance
6.3.1.3 Product benchmarking
6.3.1.4 Strategic initiatives
6.3.2 Lonza
6.3.2.1 Company overview
6.3.2.2 Financial performance
6.3.2.3 Product benchmarking
6.3.2.4 Strategic initiatives
6.3.3 Grifols S.A
6.3.3.1 Company overview
6.3.3.2 Financial performance
6.3.3.3 Product benchmarking
6.3.3.4 Strategic initiatives
6.3.4 Jubilant Life Sciences Limited
6.3.4.1 Company overview
6.3.4.2 Financial performance
6.3.4.3 Product benchmarking
6.3.4.4 Strategic initiatives
6.3.5 Pfizer, Inc. (CentreOne)
6.3.5.1 Company overview
6.3.5.2 Financial performance
6.3.5.3 Product benchmarking
6.3.5.4 Strategic initiatives
6.3.6 Charles River Laboratories International, Inc
6.3.6.1 Company overview
6.3.6.2 Financial performance
6.3.6.3 Product benchmarking
6.3.6.4 Strategic initiatives
6.3.7 Albany Molecular Research, Inc.
6.3.7.1 Company overview
6.3.7.2 Product benchmarking
6.3.7.3 Strategic initiatives
6.3.8 Laboratory Corporation of America Holdings
6.3.8.1 Company overview
6.3.8.2 Financial performance
6.3.8.3 Product benchmarking
6.3.9 IQVIA
6.3.9.1 Company overview
6.3.9.2 Financial performance
6.3.9.3 Product benchmarking
6.3.9.4 Strategic initiatives
6.3.10 Baxter BioPharma Solutions
6.3.10.1 Company overview
6.3.10.2 Financial performance
6.3.10.3 Product Benchmarking
6.3.10.4 Strategic initiatives
6.3.11 Aenova Holding GmbH
6.3.11.1 Company overview
6.3.11.2 Product Benchmarking
6.3.12 Vetter Pharma
6.3.12.1 Company Overview
6.3.12.2 Product benchmarking
6.3.13 Valeant Pharmaceuticals International Inc.
6.3.13.1 Company Overview
6.3.13.2 Financial performance
6.3.13.3 Product benchmarking
6.3.14 Ligand Pharmaceuticals, Inc.
6.3.14.1 Company Overview
6.3.14.2 Financial performance
6.3.14.3 Product benchmarking
6.3.14.4 Strategic initiatives
6.3.15 Thermo Fisher Scientific Inc
6.3.15.1 Company Overview
6.3.15.2 Financial performance
6.3.15.3 Product benchmarking
6.3.15.4 Strategic initiatives
6.3.16 Recipharm AB.
6.3.16.1 Company Overview
6.3.16.2 Financial performance
6.3.16.3 Product benchmarking
6.3.16.4 Strategic initiatives
6.3.17 AbbVie, Inc.
6.3.17.1 Company Overview
6.3.17.2 Financial performance
6.3.17.3 Product benchmarking
6.3.17.4 Strategic initiatives
6.3.18 Famar Health Care Services
6.3.18.1 Company Overview
6.3.18.2 Product benchmarking
6.3.18.3 Strategic initiatives
6.3.19 Catalent Pharma Solutions
6.3.19.1 Company Overview
6.3.19.2 Financial performance
6.3.19.3 Product benchmarking
6.3.19.4 Strategic initiatives
6.3.20 West Pharmaceutical Services, Inc.
6.3.20.1 Company Overview
6.3.20.2 Financial performance
6.3.20.3 Product benchmarking
6.3.20.4 Strategic initiatives
Cross-segment Market Size and Analysis for Mentioned Segments
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