With rising demand for pharmaceuticals and increasing cost pressure, the global contract manufacturing market will grow at a CAGR of 11% during 2011-2013, says RNCOS.
Noida, UP -- (SBWIRE) -- 07/24/2011 -- According to our new research report, “Global Contract Manufacturing Market Analysis”, the rising cost pressure on the pharmaceutical companies has boosted the trend of contract manufacturing of drugs. The global contract manufacturing market generated revenue worth around US$ 22.5 Billion in 2009. Soaring demand for pharmaceuticals worldwide, improving standards of manufacturing facilities, and rising cost pressure on companies are the prominent factors contributing to the phenomenal growth in contract manufacturing sector. Further, the market is likely to reach nearly US$ 34 Billion by 2013-end, growing at a CAGR of around 11% since 2011.
The report revealed that there are factors like low-production cost and minimum taxes on production that makes China an attracting region for drug manufacturing. The export of pharmaceutical products from China has also considerably increased during the last few years to reach US$ 6.3 Billion in 2008. Besides, Chinese bulk drugs and API producers are among the biggest across the globe and are known for their comparatively lower prices. Backed by all these factors, it may be said that the contract manufacturing industry will witness a strong growth in coming future.
The report, “Global Contract Manufacturing Market Analysis”, investigates the current market trends and simultaneously analyzes their impact on the market performance. It measures the key developments and performance of the market in countries, such as India, China, Brazil, Singapore, Russia, etc. Moreover, the report covers a comprehensive detail on the market structure in key developing markets.
The report is an outcome of an extensive research and prudent analysis on the global contract manufacturing market. It covers an important section on the current industry issues that require to be understood for better market insight. While forecasting on key areas, use of proper base and methods are sought that seek to present a realistic outlook. Overall, the report is well suited for those clients who want to acquaint themselves with global contract manufacturing market.
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