The time-consuming manufacturing and ineffective production for several things and management are major burdens for public and private sector organizations. They are also essential for addressing complex challenges because a single organization is less effective in driving the change and sometimes required outcomes. The contract manufacturing companies will act as rising opportunities for both governmental and private sectors
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For instance,
- In August 2022, as per the NCBI article, the Annual Survey of Manufactures reported financial and operational data such as labor cost, cost of materials, capital expenditures, shipments, inventory, expenditure on contract work, and IT investment
Data Bridge Market Research analyses that the Contract Manufacturing Market is expected to grow at a CAGR of 6.2% in the forecast period of 2023 to 2030 and is expected to reach USD 3,78,712.19 million by 2030. The pharmaceutical products manufacturing is projected to propel the growth of the market as the demand for pharmaceutical products is high among the population.
Key Findings of the Study
Rising Technological Advancement In Contract Manufacturing
Introducing a new drug in the market promptly requires considerable investments in manufacturing due to the escalated demand in the pharmaceutical industry. Advanced technologies and skills are mandatory as some drugs have complex formulas and require specific equipment and techniques when mass-produced.
The usage of innovative technologies such as machine learning, big data, and artificial intelligence to develop pharmaceutical drugs or manufacture medical devices are being considered for rapid and quick manufacturing. These technical advancements also help in mass production and scalability in a short span of time.
For instance,
- In January 2021, the FDA and the National Institute of Standards and Technology (NIST) collaborated through a memorandum of understanding to increase U.S. medical supply chain resilience and advanced domestic manufacturing of drugs, biological products, and medical devices through the adoption of 21st-century manufacturing technologies. These include smart technologies, such as artificial intelligence and machine learning, and emerging manufacturing processes
However, pharmaceutical firms conventionally audit or supervise their contract manufacturing organization's production and delivery processes to monitor the manufacturing process using real-time remote tracing.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customisable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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By Product (Medical Devices Manufacturing, Pharmaceutical Products Manufacturing), End User (Original Equipment Manufacturer, Medical Device Companies, Pharmaceutical Companies, Biotechnology Companies, Biopharma Companies, Research Institutes), Distribution Channel (Direct Tender, Retail Sales, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Aenova Group (Germany), Thermo Fisher Scientific, Inc.(U.S.), EVONIK INDUSTRIES AG (Germany), Lonza (Switzerland), Boehringer Ingelheim International GmbH.(Germany),Catalent, Inc (U.S.), Sun Pharmaceutical Industries Ltd.(India), NIPRO PHARMA CORPORATION (Japan), Pfizer Inc.(U.S.), Recipharm AB. (Sweden),Vetter(Germany), TE Connectivity (Switzerland), Merck KGaA (Germany), Almac Group (U.K.), Siegfried Holding AG(Switzerland), Jubilant Pharma Limited (U.S.), Avid Bioservices, Inc. (California), Baxter (U.S.), KIMBALL ELECTRONICS INC (U.S.), FAMAR Health Care Services (Greece), and AbbVie Inc.(U.S.).
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The global contract manufacturing market is segmented into three notable segments such as product, end user, and distribution channel.
- Based on product, the market is segmented into pharmaceutical products manufacturing and medical device manufacturing.
In 2023, the pharmaceutical products manufacturing segment is expected to dominate the market due to its increasing demand among the population.
In 2023, the pharmaceutical products manufacturing segment is expected to dominate the market with a market share of 62.25% and is expected to reach USD 236,681.32 million by 2030, growing with a CAGR of 6.3% in the forecast period of 2023 to 2030.
- Based on end user, the market is segmented into original equipment manufacturer, medical device companies, pharmaceutical companies, biotechnology companies, biopharma companies, and research institutes.
In 2023, the pharmaceutical companies segment is expected to dominate the market due to a rise in patient inclination toward personalized drugs and treatment procedures.
In 2023, the pharmaceutical companies segment is expected to dominate the market with a market share of 31.12% and is expected to reach USD 126,434.85 million by 2030, growing with a CAGR of 7.3% in the forecast period of 2023 to 2030.
- Based on distribution channel, the market is segmented into direct retail sales, direct tender and others. In 2023, the retail sales segment is expected to dominate the market with a market share of 80.46% and is expected to reach USD 308,286.78 million by 2030, growing with a CAGR of 6.4% in the forecast period of 2023 to 2030.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in the global contract manufacturing market are Aenova Group (Germany), Thermo Fisher Scientific, Inc.(U.S.), EVONIK INDUSTRIES AG (Germany), Lonza (Switzerland), Boehringer Ingelheim International GmbH. (Germany),Catalent, Inc (U.S.), NIPRO PHARMA CORPORATION (Japan), Pfizer Inc.(U.S.), Recipharm AB.(Sweden),Vetter(Germany), TE Connectivity (Switzerland), Merck KGaA (Germany), Almac Group (U.K.), Jubilant Pharma Limited (U.S.), Avid Bioservices, Inc. (California), Baxter (U.S.), KIMBALL ELECTRONICS INC (U.S.), and AbbVie Inc.(U.S.).among others.
Market Developments
- In February 2023, Thermo Fisher Scientific, the world leader in serving science, and Celltrio, a leading manufacturer of robotics-based solutions for the life sciences industry, announced their collaboration to bring a fully automated cell culture system to biotherapeutics customers.
- In January 2023, Thermo Fisher Scientific announced to work with AstraZeneca to develop a solid tissue and blood-based companion diagnostic (CDx) test for Tagrisso (osimertinib). The CDx will help identify patients with non-small cell lung cancer (NSCLC) who may be eligible for treatment with Tagrisso by identifying tumors that exhibit epidermal growth factor receptor (EGFR) alterations including exon 21 L858R mutations, exon 19 deletions or T790M mutations.
- In March 2023, Evonik Industries AG announced the opening of a new GMP facility to manufacture lipids for advanced pharmaceutical drug delivery applications. The lipid launch facility is located at the company's site in Hanau, Germany, and provides customers with quantities of lipids as needed for clinical and small-scale commercial manufacturing.
- In February 2023, Evonik Industries AG partnered with AMSilk to manufacture sustainable silk proteins. This has helped the company to grow.
- In November 2022, Lonza, a preferred partner to the pharmaceutical, biotech, and nutraceutical markets, launched an innovative new capsule solution for intestinal (enteric) drug delivery. The Capsugel Enprotec capsule does not disintegrate during stomach transit and only releases its contents in the intestine. Capsugel Enprotect capsules significantly simplify the drug product manufacturing process by mitigating the need for additional capsule coating or sealing.
- In January 2023, U.S. FDA accepted the supplemental new drug application for Jardiance for adults with chronic kidney disease.
- In October 2021, Boehringer Ingelheim International Gmbh. inaugurated its state-of-the-art biopharmaceutical production facility, Large Scale Cell Culture (LSCC), in Vienna, Austria, with an investment volume of more than 700 million EUR, the single largest investment in the company's history.
Regional Analysis
Geographically, the countries covered in the global contract manufacturing market report are the U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of Middle East and Africa as per Data Bridge Market Research analysis:
North America is the dominant region in the global contract manufacturing market during the forecast period 2023 - 2030
In 2023, North America dominated the contract manufacturing market owing to the higher level of investments by various manufacturers and increasing demand for pharmaceutical products manufacturing in the region. North America will continue to dominate the contract manufacturing market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. North America is estimated to be the fastest-growing country in the global contract manufacturing market for the forecast period 2023-2030. This is due to the growing adoption of advanced technology and the launch of new products in this region.
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