The global pharmaceutical contract manufacturing market is anticipated to grow at a considerable CAGR of around 6.9% during the forecast period (2021-2027). The key factor to drive the market growth is the rise in the need for state-of-art methods and production technologies to improve patient outcomes pertaining to various diseases. For instance, in November 2019, South Africa announced that it is going to introduce state-of-the-art known TLD for HIV treatment as almost 20% of the people globally who have HIV live in South Africa. This introduction of the new treatment to have a significant impact on global HIV response and contributes to reaching UN goals for ending the HIV epidemic in 2030.
Browse the full report description of "Global Pharmaceutical Contract Manufacturing Market Size, Share & Trends Analysis by Category (Human-Based Drugs and Animals Based Drugs), By Type (Sterile Manufacturing and Non-Sterile Manufacturing,), by Product (Over-The-Counter (OTC) Drugs, Active Pharmaceutical Ingredients (API), Finished Dosage Formulation and Others) and by services (Manufacturing Services, Non-Clinical Services, and Research & Development) Forecast, 2021-2027" at https://www.omrglobal.com/industry-reports/pharmaceutical-contract-manufacturing-market
Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in February 2020, Catalent Inc involved in manufacturing and delivering drugs, biologics, cell and gene therapies announced that it has signed an agreement with Zumutor Biologics Inc to manufacture Zumutors ZM008 for the treatment of solid tumours. This agreement Catalent Biologics will provide process optimization and drug substance manufacturing services from its facility site in Madison, Wisconsin. Therefore, with the help of this partnership, Catalent will be supporting Zumutors clinical development and commercial needs by bringing upon improvements in cancer treatments. Further, in December 2019, Thermo Fishers Inc officially opened its latest Viral Vector Contract development and manufacturing organization in Lexington that cost $90 million. This 50,000 sq. ft facility will be supporting, the production, testing and manufacturing of viral vectors that are essential for the advancement of new life-saving gene and cell therapies.
Market Coverage
o ByCategory
o By Type
o By Product
o By Service
o North America
o Europe
o Asia-Pacific
o Rest of the World
Key questions addressed by the report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Global Pharmaceutical Contract Manufacturing Market Report Segment
By Category
By Type
By Product
By Services
Global Pharmaceutical Contract Manufacturing Market Report Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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