The global pharmaceutical contract manufacturing and research services market size was evaluated at USD 221.95 billion in 2022 and is expected to gain to USD 403 billion by 2030, growing at a strong CAGR of 7.74 percent between 2022 and 2030.
The pharmaceutical contract manufacturing and research services market is expected to develop due to rising demand for generic medications and biologics, as well as increasing demand for gene and cell treatments and pharmaceutical outsourcing. However, factors like as service quality and intellectual property difficulties, a scarcity of trained people, and the implementation of serialization are expected to stymie the pharmaceutical contract manufacturing and research services market’s expansion throughout the projection period.
Furthermore, the rising acceptance of pharmaceutical contract manufacturing among pharmaceutical businesses, driven by the desire to reduce costs, as well as emerging nations, would open up new prospects for the global pharmaceutical contract manufacturing and research services market. On the other hand, the global pharmaceutical contract manufacturing and research services market is being held back by rising lead times and logistics costs, as well as challenges with capacity utilization.
Report Highlights:
Based on the services, the biologics segment dominated the global pharmaceutical contract manufacturing and research services market in 2022 with the highest market share. The biologics segment is likely to rise due to the rising prevalence of chronic diseases and diagnoses, increased government initiatives in the healthcare sector, and the availability of sophisticated diagnostics in the coming years.
Based on the end user, the big pharmaceutical companies segment dominated the global pharmaceutical contract manufacturing and research services market in 2022 with the highest market share. The expanding prevalence of numerous infectious diseases, the growing requirement for state-of-the-art procedures and production methods, and the rising expense of clinical trials and early development studies account for the majority of this segment’s revenue.
Pharmaceutical Contract Manufacturing And Research Services Market Report Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 239.13 Billion |
| Projected Forecast Revenue in 2030 | USD 403 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 7.74% |
| Largest Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2022 To 2030 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Regional Snapshot:
North America is the largest segment of the pharmaceutical contract manufacturing and research services market in terms of region. The factors driving the growth of the North American pharmaceutical contract manufacturing and research services market include the increase in outsourcing operations due to lower prices and the availability of trained healthcare professionals.
Europe region is the fastest-growing region in the pharmaceutical contract manufacturing and research services market. Due to the Europe region’s booming manufacturing sector, favorable government laws, increased focus on off-patent pharmaceuticals, and highly qualified workforce, the pharmaceutical contract manufacturing and research services market in Europe is rising at a rapid pace.
Market Dynamics:
Drivers:
Increasing investments in pharmaceutical research and development
Scientific research and development, as well as toxicological and clinical expertise, drive the pharmaceutical sector. Furthermore, with increased support from various government agencies, healthcare research and development efforts have expanded dramatically. The rising healthcare concerns, difficulties in clinical trials, and drug failure in early-phase research and driving this funding. In addition, pharmaceutical corporations have raised their research and development spending. The amount of money spent on pharmaceutical research and development is a key statistic for determining a company’s commitment to finding new medications. Thus, increasing investments in pharmaceutical research and development is driving the growth of the pharmaceutical contract manufacturing and research services market.
Restraints:
High cost of research:
The market price for pharmaceutical contract manufacturing and research services is fairly expensive. The services necessitate a lot of research. Analysts, professionals, and research experts conduct this kind of study. These pros charge a lot of money. Working on the research takes a significant amount of time and resources. The pharmaceutical contract manufacturing and research services also necessitate capital investments. Thus, the high cost of research is restricting the growth of the pharmaceutical contract manufacturing and research services market.
Opportunities:
Growing development of healthcare infrastructure
The pharmaceutical contract manufacturing and research services market also provides an in-depth market analysis for each country’s growth in healthcare capital expenditures, the installation of various types of innovative products for the pharmaceutical contract manufacturing and research services market, and significant changes in the regulatory framework, as well as their impact on the pharmaceutical contract manufacturing and research services market. As a result, the development of healthcare infrastructure is creating lucrative opportunities for the growth of the pharmaceutical contract manufacturing and research services market over the forecast period.
Challenges:
Stringent regulatory framework
The growth of the global pharmaceutical contract manufacturing and research services market is hampered by government rules and regulations. Despite the fact that no enforcement action has been taken by law enforcement agencies to compel laboratories to follow certain rules, this regulatory framework oversees the licensing and commercialization of medical devices and claims jurisdiction over laboratory-developed tests as well. As a result, the stringent government regulatory framework is a major challenge for the expansion of the pharmaceutical contract manufacturing and research services market during the forecast period.
Major Key Players:
Market Segmentation:
By Service
By End-User
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