The Asia Pacific pharmaceutical contract manufacturing organization market size is anticipated to expand at a significant CAGR during the forecast period 2021–2028. Growth of the market is attributed to rising healthcare expenditure, increasing demand for cost control in drug development, and increasing investments in pharmaceutical research and development.
Request Free Sample Report Here
Contract manufacturing organization is a corporation that assists other companies in the pharmaceutical sector on a contract basis to provide broad services from drug manufacturing through drug development. This permits major pharmaceutical players to overcome those phases of the business.
The Covid-19 pandemic affected the demand and supply of pharmaceutical contract manufacturing organization market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing access to advanced technologies is projected to boost the market.
- Increasing demand for biological therapies is the major factor fueling the market.
- Lack of manufacturing standardization is projected to restrict the market growth during the forecast period.
- High price of services is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in pharmaceutical contract manufacturing organization market is projected to offer lucrative opportunities for the market players.
Market Segment Insights
The finished dosage formulation development and manufacturing accounts for a key share of the market
Based on service types, the Asia Pacific pharmaceutical contract manufacturing organization market is segregated into finished dosage formulation development & manufacturing, secondary packaging, & active pharmaceutical ingredient manufacturing.
The healthcare providers segment accounts for a key share of the market
Based on end-users, the Asia Pacific pharmaceutical contract manufacturing organization market is divided into healthcare providers and healthcare payers. The healthcare providers segment accounts for a key share of the market.
The market in Japan is anticipated to hold a major market share
On the basis of region, the Asia Pacific pharmaceutical contract manufacturing organization market is classified as Australia, India, China, Japan, and Rest of Asia Pacific. The market in India is estimated to expand at a high CAGR during the forecast period due to growing demand for generic medicines, growth in the medicinal areas, and innovation of new drugs to fight against high-potency diseases. The market of Japan is estimated to hold a major market share due to regulatory approval of the drug, increasing demand for next-generation biological therapies, and increasing government initiatives in healthcare sector.
Compititive Landscape
Key players competing in the Asia Pacific pharmaceutical contract manufacturing organization market include Lonza Group, Famer SA, Pfizer Centre Source [Pfizer Inc], Boehringer Ingelheim Group, Jubilant Life Sciences Ltd, Recipharm AB, Aenova Group, Baxter Biopharma Solutions, Thermo Fisher Scientific Inc.[Patheon Inc.], and Catalent Inc.
About Growth Market Reports:
GROWTH MARKET REPORTS provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GROWTH MARKET REPORTS has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.
Contact:
Growth Market Reports
Phone: +1 909 414 1393
Email: [email protected]
Web: https://growthmarketreports.com
