In 2021, Samsung BioLogics (South Korea) entered into a Development and Manufacturing Agreement with Kineta (US) for Anti-VISTA Antibody Immunotherapy

Northbrook, IL 60062 -- (SBWire) -- 03/28/2023 --The Global Pharmaceutical Contract Development Market in terms of revenue was estimated to be worth $120.6 billion in 2021 and is poised to reach $171.3 billion by 2026, growing at a CAGR of 7.3% from 2021 to 2026. Market growth is driven mainly by factors such as rising demand for generics, increasing investments in pharmaceutical R&D, and investments in advanced manufacturing technologies by CDMOs. The increasing demand for biological therapies, the growing focus on specialty medicines, growth in the nuclear medicine sector, and advancements in cell and gene therapies are also expected to offer market growth opportunities in the coming years.

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Key Market Players

Key players in the pharmaceutical contract development and manufacturing market include Thermo Fisher Scientific Inc. (US), Catalent, Inc. (US), Lonza Group Ltd. (Switzerland), Recipharm AB (Sweden), AbbVie Inc. (US), Aenova Group (Germany), Almac Group (UK), and Siegfried Holding AG (Switzerland)

Pharmaceutical Contract Manufacturing Market Dynamics

Drivers: Patent expiry and increasing demand for generic drugs

Generics are cost-effective drugs with therapeutic effectiveness and safety profiles that are similar to their branded counterparts. One of the major factors driving the growth of the generics market is the increasing pressure to reduce rising healthcare costs. Considering such cost benefits, governments across various countries are promoting the use of generic drugs.

Another major factor driving the growth of the generics market is the expiration of several drugs & patents. In developing countries such as South Korea, around 62 patents covering 158 pharmaceutical products are scheduled to expire in 2021. Although generic erosion because of the patent cliff has resulted in significant revenue and volume losses for the branded drug industry, patent expiration enables the entry of several cheaper generic counterparts in the market (which will boost the volume of drugs sold). This is a positive indicator of market growth, as generics companies outsource around 80% of their production to CDMOs.

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In 2020, the pharmaceutical contract manufacturing market was dominated by large pharmaceutical companies.

Based on end users, the market is segmented into big pharmaceutical companies, small and medium-sized pharmaceutical companies, generic pharmaceutical companies, and other end users. In 2020, big pharmaceutical companies accounted for the largest share of the pharmaceutical contract development and manufacturing market, and this trend is expected to continue during the forecast period. The large share of this end-user segment can be attributed to factors such as the high demand for end-to-end services in big pharmaceutical companies, rising pricing pressure and pipeline challenges in their operations (resulting in a shift toward contract development and manufacturing), and the growing need to streamline execution costs as a result of the patent expiry of blockbuster drugs.

The biologics manufacturing services segment will witness the highest growth in the pharmaceutical contract manufacturing market during the forecast period.

Based on service, the market is segmented into pharmaceutical manufacturing, biologics manufacturing, and drug development services. In 2020, the biologics manufacturing services segment accounted for the highest growth rate. The major factor driving the growth of this segment is the growing demand for vaccines and biosimilars.

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