Pharmaceutical Contract Manufacturing Market: Growth, Size, Share, and Trends

The global pharmaceutical contract manufacturing market, valued at US$183.6 billion in 2023, is forecasted to grow at a robust CAGR of 9.7%, reaching US$200.9 billion in 2024 and an impressive US$319.6 billion by 2029. Increasing use of generic drugs and funding, developments in the field of CMOs technology, the high cost of in-house drug discovery, and regulatory filing by the CMOs drive the growth of the pharmaceutical contract manufacturing market. Pharma CMOs using Al in drug development and manufacturing will bring efficiency and quality. In April 2024, Lonza launched its AI-powered Route Scouting Service: This service integrates Lonza's global expertise in the chemical supply chain with Elsevier Al technology (Reaxys) for the fast-tracking of artificial route identification for new APIs. Strict rules may limit the growth of the market. Moreover, applies AI in predictive analytics for supply chain management, planning efficient production schedules, and inventory levels. AI also optimizes clinical trials through incidental candidate identification, predictions of clinical trial results, and patient compliance monitoring4 which will lower the costs and raise success rates of clinical trials. It paves the way for further innovations and developments, as bringing Al to pharmaceutical contract manufacturing transforms the whole industry in terms of efficiency, guarantees the quality, and accelerates development processes.

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Thermo Fisher Scientific: Market Leader in Pharmaceutical Contract Manufacturing

Thermo Fisher Scientific leads the pharmaceutical contract manufacturing market, holding the largest market share in 2023. The company offers a comprehensive suite of services, including formulation and process development, analytical services, and commercial manufacturing. Its extensive service portfolio, coupled with robust regional and brand recognition, contributes to its dominant market position. Thermo Fisher maintains its leadership by focusing on organic growth strategies, such as the introduction of new services. Notably, in March 2024, the company launched a diverse range of cold and ultra-cold storage solutions to support global clinical trials and biorepository needs.

Catalent, Inc.: Prominent Player in Pharmaceutical Contract Manufacturing

Catalent, Inc. is a leading CDMO, providing development solutions for pharmaceuticals, biologics, and consumer and animal health products. The company offers a variety of delivery systems, including oral, injectable, and respiratory methods, supported by its proprietary technology and global infrastructure. Catalent emphasizes collaborative innovation to meet the needs of the pharmaceutical and biotechnology sectors, maintaining a strong market presence through its extensive facilities and development hubs worldwide.

Lonza Group: Comprehensive Solutions in Pharmaceutical Contract Manufacturing

Lonza Group (Switzerland) is a key player in the pharmaceutical contract manufacturing sector, offering integrated solutions across the entire value chain, from molecule development to patient delivery. The company caters to government research institutions, biotechnology firms, and pharmaceutical and healthcare product manufacturers. Lonza's focus for 2023 is on geographic expansion to enhance its global footprint and support its comprehensive service offerings, which span various technologies and sectors.

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Pharmaceutical Contract Manufacturing Market Segmentation

The pharmaceutical contract manufacturing market is categorized by service types, including drug development services, pharmaceutical manufacturing services, biologic manufacturing services, packaging and labeling services, fill-finish services, and other services. Pharmaceutical manufacturing services hold the largest market share due to the rising demand for specialized production facilities, advanced tools, and operational expertise. This demand is driven by pharmaceutical companies' increasing focus on core activities, prompting them to outsource functions such as API production.

End-User Market Insights

The market is segmented by end-users into big pharmaceutical companies, small and mid-sized pharmaceutical companies, generic pharmaceutical companies, and other end-users like academic institutes, small CDMOs, and CROs. Big pharmaceutical companies dominate the market, primarily due to their high demand for comprehensive services, growing pricing pressures, and challenges in drug development pipelines. These factors drive the substantial share of big pharmaceutical companies in the market.

Regional Market Overview

The market is divided into six major regions: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America led the market in 2023, accounting for the largest share. This dominance is attributed to a well-established pharmaceutical industry, numerous ongoing clinical trials, substantial R&D investments, advancements in biosimilars and generics, and increasing outsourcing of preclinical and clinical development. The presence of major pharmaceutical and biopharmaceutical companies, such as copyright Inc., Abbott Laboratories, AbbVie Inc., and Johnson & Johnson, further drives demand for outsourcing services. Increased funding for new treatments and research also supports market growth in the region.

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