Pharmaceutical Contract Manufacturing Market

The report "Pharmaceutical Contract Manufacturing Market by Service (Drug Development, Pharmaceutical (API, FDF - Parenteral, Tablet, Capsule, Oral Liquid), Biologics (API, FDF), Packaging & Labelling, Fill-finish), End Users - Global Forecasts to 2029", is projected to reach USD 319.6 billion by 2029 from USD 200.9 billion in 2024, at a CAGR of 9.7% during the forecast period of 2024 to 2029. Some factors contributing to the growth of the global market include increased investment in precision medicines, increasing demand of generic drugs, high-cost of in-house drug development, and increasing investment in advanced manufacturing technologies by contract manufacturers. Despite this, challenges associated with regulatory compliances are expected to hinder market growth.

Browse 148 market data Tables and 60 Figures spread through 415 Pages and in-depth TOC on "Pharmaceutical Contract Manufacturing Market by Service (Drug Development, Pharmaceutical (API, FDF - Parenteral, Tablet, Capsule, Oral Liquid), Biologics (API, FDF), Packaging & Labelling, Fill-finish), End Users - Global Forecasts to 2029"
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In the pharmaceutical contract manufacturing market in 2023, pharmaceutical manufacturing services held the largest share of the service segment.

Based on service, the pharmaceutical contract manufacturing market is broadly segmented into drug development services, pharmaceutical manufacturing services, biologic manufacturing services, packaging & labelling services, fill-finish services, and other services. In 2023, the other pharmaceutical manufacturing services segment dominated the largest market share. The rising number of pharmaceutical goods in the development pipeline acts as the main growth driver on behalf of this segment. Furthermore, rising demand for inexpensive solutions adds to the growth. Outsourcing to pharma is an emerging trend that supports the growth of the market.

The pharmaceutical API manufacturing services accounted for the largest share of the pharmaceutical manufacturing services segment in the pharmaceutical contract manufacturing market in 2023.

Based on type, the pharmaceutical manufacturing services is categorized into two sub-segments—pharmaceutical API manufacturing services and pharmaceutical FDF manufacturing services. The pharmaceutical API manufacturing service is likely to capture the biggest market share among all pharmaceutical manufacturing services in 2023. With the imminent patent expiries in many countries, the demand for API manufacturing has been on the rise. Apart from this, pharmaceutical companies have been increasing their focus on the development of key processes which has allowed these companies to outsource the production of APIs. The region of Asia Pacific is further predicted to record the highest growth rate in the pharmaceutical contract manufacturing market in 2023.

The Asia Pacific region will be the fastest-growing region of the pharmaceutical contract manufacturing market in 2023.

Based on the region, the pharmaceutical contract manufacturing market is segmented into six major regions: North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The Asia Pacific is anticipated to register fastest growth in the pharmaceutical contract manufacturing market owing to the rising government spending, relatively low manufacturing costs, and therapeutic area expertise in the region, and substantial funds in pharmaceutical research and development.

Key players in the pharmaceutical contract manufacturing market include Thermo Fisher Scientific, Inc. (US), Catalent, Inc. (US), Lonza Group (Switzerland), AbbVie, Inc. (US), WuXi Apptec (China), WuXi Biologics (China), Merck KGaA (Germany), Siegfried Holding AG (Switzerland), Evonik Industries AG (Germany), Boehringer Ingelheim International (Germany), FUJIFILM Holding Corporation (Japan), Samsung Biologics (South Korea), Almac Group (UK), Vetter Pharma (Germany), Alcami Corporation (US), Asychem Inc. (China), and Charles River Laboratories (US).

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