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Pharmaceutical contract manufacturing/contract research market worth $238.3 billion by 20256 Jun 2017
Expanding market for biosimilars and biobetters is anticipated to pronounce the demand for contract development and manufacturing support.
The global pharmaceutical contract manufacturing/contract research market is anticipated to reach USD 238.3 billion by 2025, according to a new report by Grand View Research. Impact on the volume of capacity that is required for production due to increasing expression levels is anticipated to influence the outsourcing industry. Increased cell densities, as well as an increase in expression of each cell, has led to the steady decline in volume requirement, which in turn, provides clients with a wider choice of CMO.
The focus of large pharmaceutical companies to strategically engage with a small number of preferred providers is a meaningful departure from the procurement-based outsourcing. This was one of the many approaches that the service industry had become accustomed to.
Expanding market for biosimilars and biobetters is anticipated to pronounce the demand for contract development and manufacturing support. Service providers that hold the potential of providing cost as well as quality advantages are set to make inroads and grow at tremendous pace in the forecast period.
However, drug manufacturers are increasing the investments with respect to production capabilities. This may limit the potential growth of contract manufacturing services to traditional customers thereby hampering industrial growth.
Further key findings from the report suggest
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