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Global Pharmaceutical Contract Manufacturing and Research Services Market 2022-2030: Drug Shortage Driving Demand for Pharmaceutical Development & Commercial Success of Biologics for Clinical Use - ResearchAndMarkets.com


The "Pharmaceutical Contract Manufacturing and Research Services Market Size, Share & Trends Analysis Report by Service (Manufacturing, Research), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global pharmaceutical contract manufacturing and research services market size is expected to reach USD 395.2 billion by 2030. It is expected to expand at a CAGR of 7.2% from 2022 to 2030.

The rising investments in R&D, increasing demand for generics, and the growing aging population with various chronic diseases are responsible for market growth.

However, the advent of COVID-19 led to a temporary shutdown of research and manufacturing activities of ancillary goods used for manufacturing drugs, which had impacted the supply chain and is likely to have a negative impact on the market growth.

Outsourcing allows pharmaceutical companies to focus on their core competencies such as sales and marketing rather than manufacturing and research. This is expected to have a positive impact on the market growth.

However, the pharmaceutical companies practicing in-house manufacturing are increasing their investments with respect to production capabilities. This may limit the potential growth of contract manufacturing services to traditional customers, thereby hampering industrial growth.

The COVID-19 pandemic has provided new opportunities for pharmaceutical contract manufacturing and research services. Because of this pandemic, the contract service sector has switched its focus toward manufacturing and research of COVID-19 therapies and vaccines.

For instance, in October 2020, CDMO Recipharm formed an agreement with Arcturus Therapeutics to support the manufacturing of its COVID-19 vaccine candidate-ARCT-021. Currently, it is in the phase 1/2 clinical trial. Similarly, in March 2022, the biotechnology company GeoVax partnered with a CRO CATO SMS to support GeoVAX in the Phase 2 trials of the COVID-19 Vaccine candidate GEO-CM04S1.

Pharmaceutical Contract Manufacturing and Research Services Market Report Highlights

Variables, Trends, & Scope

Market Driver Analysis

Market Restraint Analysis

Penetration & Growth Prospect Mapping

Porter's Five Forces Analysis

PESTEL Analysis

COVID-19 Analysis

Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/qq86cr


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