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DUBLIN–(BUSINESS WIRE)–The report “Analysis of Contract Pharmaceutical Manufacturing and Research Services Market Size, Share and Trends by Service (Manufacturing, Research), by Region and Segment Forecast, 2022-2030” has been added to from ResearchAndMarkets.com offer.

The global pharmaceutical contract research and manufacturing services market size is expected to reach USD 395.2 billion by 2030. It is expected to grow at a CAGR of 7.2% from 2022 to 2030.

Rising investment in R&D, rising demand for generics, and growing aging population suffering from various chronic diseases are responsible for the growth of the market.

However, the advent of COVID-19 has caused a temporary halt in the research and manufacturing activities of ancillary goods used for the manufacture of drugs, which has impacted the supply chain and is likely to have a negative impact on market growth.

Outsourcing allows pharmaceutical companies to focus on their core competencies such as sales and marketing rather than manufacturing and research. This is expected to have a positive impact on the growth of the market.

However, pharmaceutical companies practicing in-house manufacturing are increasing their investments in production capacities. This may limit the potential growth of contract manufacturing services for traditional customers, thereby hampering industrial growth.

The COVID-19 pandemic has presented new opportunities for pharmaceutical contract manufacturing and research services. Due to this pandemic, the contract services industry has focused on the manufacturing and research of COVID-19 therapies and vaccines.

For example, in October 2020, CDMO Recipharm entered into an agreement with Arcturus Therapeutics to support the manufacturing of its vaccine candidate COVID-19-ARCT-021. Currently, it is in a phase 1/2 clinical trial. Similarly, in March 2022, biotech company GeoVax partnered with a CRO CATO SMS to support GeoVAX in phase 2 trials of the COVID-19 vaccine candidate GEO-CM04S1.

Pharmaceutical Contract Manufacturing and Research Services Market Report Highlights

  • By service, the manufacturing segment dominated the market in 2021. In this segment, active pharmaceutical ingredients (APIs) / bulk drugs held the largest revenue share of over 60.0% in 2021. Pharmaceutical companies prefer outsourcing services for researching and manufacturing APIs due to the reduced cost of producing APIs.

  • In the manufacturing services segment, finished dose formulations are expected to register the fastest CAGR of 7.7% from 2022 to 2030.

  • The research services segment is further segmented based on therapeutic area, in which oncology held a large share of more than 25.0% in 2021 and is expected to maintain its lead in the coming years due to the burden of high cancer morbidity worldwide.

  • CMOs/CDMOs with the ability to establish themselves in emerging countries should boost the market. The contract services industry is in its infancy in countries like Brazil, India and China.

  • Companies can position themselves for strong growth, given that demand is expected to grow rapidly in the coming years. Increased competitiveness in the contract services sector should ultimately benefit the growth of the sector.

  • China, Japan and India are expected to witness considerable growth over the forecast period due to the high prevalence of the disease.

Variables, trends and scope

Market Driver Analysis

  • Drug shortages drive demand for pharmaceutical development

  • Commercial success of biologics for clinical use

  • Reduction of manufacturing costs and improvement of the economic situation of the BRICs

Market Restriction Analysis

  • Limited outsourcing chosen by big pharma

  • Drug Approval Regulatory Issues

Mapping of penetration and growth prospects

Porter’s Five Forces Analysis

PESTEL analysis

COVID-19 Analysis

Competitive landscape

  • Boehringer Ingelheim GmbH

  • lonza

  • Grifols SA

  • Jubilant Life Sciences Limited

  • Pfizer, Inc.

  • Charles River International Laboratories, Inc.

  • Albany Molecular Research, Inc.

  • Covance, Inc. (Labcorp)

  • Iqvia

  • Baxter Biopharmaceutical Solutions

  • Aenova Holding GmbH

  • Vetter Pharma

  • Valeant Pharmaceuticals International Inc.

  • Ligand Pharmaceuticals, Inc.

  • Pharmaceutical Product Development, LLC

  • Recipharm Ab.

  • Abbvie, Inc.

  • Famar Health Services

  • Catalent Pharmaceutical Solutions

  • West Pharmaceutical Services, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/qq86cr