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

The Latin America pharmaceutical contract manufacturing and research services market size is expected to reach USD 40.3 billion by 2030. The market is expected to register a CAGR of 7.5% from 2022 to 2030.

The low cost of drug registration in Latin American countries and economic growth are the key factors contributing to progress in this region.

Additionally, factors such as growing demand for generics, increasing R&D investments, growing geriatric population, and growing burden of chronic diseases are responsible for the growth of the market. The COVID-19 outbreak has boosted the market growth as companies have increased their investments in R&D and manufacturing to develop COVID-19 vaccines and drugs.

During the coronavirus outbreak, biopharmaceutical company supply chains remained robust and were largely unaffected around the world. Likewise, contract manufacturers are seeing an increase in demand for production facilities that will be used in COVID-19 vaccine and therapeutics. Thus, the future holds many opportunities for growth in the contract pharmaceutical manufacturing and research services market in Latin America.

For example, in December 2021, under an agreement between Samsung Biologics and AstraZeneca, to manufacture Evusheld, which is an amalgam of binary antibodies in development for the potential treatment of COVID-19. These factors are driving the demand for CMOs and CROs in Latin American countries.

Initiatives to reduce commodity prices are expected to improve the economic growth of the region, thereby boosting revenue generation in the pharmaceutical development outsourcing market.

Latin America Pharmaceutical Manufacturing and Research Services Market Report Highlights

  • The manufacturing segment captured the largest share of around 66.3% in 2021, due to the wide range of services offered by pharma CMOs for drug manufacturing.

  • The bulk drug/API development services segment held a dominant share in 2021 as pharmaceutical companies invest heavily in improving API production capacity.

  • The trend of pharmaceutical manufacturers to focus on core competencies rather than R&D is expected to drive the demand for contract research organizations in the region.

  • Government initiatives to ensure GMP compliance are expected to improve the demand for CMOs among small and medium sized pharmaceutical companies in the region.

Main topics covered:

Chapter 1. Methodology and scope

Chapter 2. Executive Summary

Chapter 3. Variables, Trends and Scope

Chapter 4. Service Estimates and Trend Analysis

Chapter 5. Country Estimates and Trend Analysis

Chapter 6. Competitive Landscape

  • lonza

  • Boehringer Ingelheim GmbH

  • Pfizer, Incorporated. (Pfizer CenterOne)

  • Charles River International Laboratories, Inc.

  • Albany Molecular Research, Inc.

  • Covance, Inc. (Labcorp)

  • Quintilesims

  • Pharmaceutical Product Development, LLC

  • Ab Recipharm

  • Abbvie, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/1swfc4