Contract manufacturing refers to a manufacturer who contracts with another company to make certain components or products over an equally agreed period. The healthcare contract manufacturing organization serves other companies in the medical devices and pharmaceutical industries to provide comprehensive services from drug development to drug manufacturing.
Pharmaceutical contract manufacturing is a huge sector with a large number of integrated services. Some of the services include Active Pharmaceutical Ingredient (API) manufacturing, Final Dosage Form (FDF) manufacturing, advanced drug delivery products, OTC medicines and nutritional product, packaging, and others. FDF comprises solid dose formulations, semi-solid and liquid dose formulations, and injectables. Similarly, medical device contract manufacturing also includes different services such as outsourcing design, device manufacturing, final goods assembly, and others. Device manufacturing services comprise material process services, electronic manufacturing services, and finished products.
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The market for healthcare contract manufacturing is growing at a moderate rate. This growth is mainly attributed to factors such as patent protection expiration of major drugs and medical devices, competition and economics of production and trade to favor CMO, mutual benefits to both contract manufacturer and client, and lean manufacturing and agility. These factors are pushing the growth of the healthcare contract manufacturing market.
On the other hand, certain factors are restraining the growth of the market. These include supply chain complexity and issues of control of third parties, standardization and interoperability issues, and growing cost of noncompliance and counterfeit medicines.
The global market for healthcare contract manufacturing is estimated to reach USD 250.9 billion by 2023, from USD 129.9 billion in 2016. The market is projected to register a CAGR of 9.86%, during the forecast period of 2017 to 2023.
On the basis of type, the market for healthcare contract manufacturing is segmented into sterile contract manufacturing and non-sterile contract manufacturing. By type, the market for non-sterile contract manufacturing accounted for the largest market share in 2016.
On the basis of service type, the market for healthcare contract manufacturing is segmented into pharmaceutical contract manufacturing and medical device contract manufacturing. By service type, the market for pharmaceutical contract manufacturing accounted for the largest market share in 2016.
On the basis of industry, the market is segmented into pharmaceutical, medical device, and biopharmaceutical; where the pharmaceutical industry accounted for the largest market share in 2016.
The key players for the healthcare contract manufacturing market are AbbVie, Boehringer Ingelheim, Grifols International, S.A, Lonza AG, Catalant, Aesica Pharmaceuticals, Pharmaceutical Product Development, Pfizer Inc., Baxter Biopharma Solutions, Jubilant Life Sciences Limited, Nipro Corporation, NextPharma Technologies, Patheon, Teva Pharmaceutical Industries, Vetter Pharma International, and others.
The regional analysis also includes –
- North America
- Asia Pacific
- Middle East & Africa
- Pharmaceutical and Medical Device Industries
- Potential Investors
- Medical Research Institutes
- Key Executive (CEO and COO) and Strategy Growth Manager
- Research Companies
- The major market players in the global healthcare contract manufacturing market are AbbVie, Boehringer Ingelheim, Grifols International, and S.A, Lonza AG
- Abbvie accounted for more than 18% share of the global healthcare contract manufacturing market
- Based on type, non-sterile contract manufacturing commanded the largest market share in 2016 and was valued at USD 95.8 billion in the same year
- Based on service type, the pharmaceutical contract manufacturing segment commanded the largest market share in 2016 and was valued at USD 73.1 billion in the same year
- On the basis of region, the American region is projected to be the fastest growing region, at a CAGR of 10.3% during the forecast period
- To provide historical and forecast revenue of the market segments and sub-segments with respect to regional markets and their countries
- To provide insights into factors influencing and affecting the market growth
- To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
- To provide economic factors that influence the global healthcare contract manufacturing market
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