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Contract Pharmaceutical Manufacturing Market To Witness Robust Expansion Throughout The Forecast Period 2018 - 2026

Pharmaceutical companies are now pushing hard to reduce overall manufacturing and research costs by outsourcing various processes related to research, development and manufacturing

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Contract Pharmaceutical Manufacturing Market To Witness Robust Expansion Throughout The Forecast Period 2018 - 2026

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  1. Contract Pharmaceutical Manufacturing Market To See Incredible Growth By 2026 Contract Pharmaceutical Manufacturing Market, by Service Type (Contract Manufacturing Organization (CMO) (API Manufacturing, Final Dosage Form Manufacturing and Packaging), Contract Research Organization (CRO) (Drug Discovery, Preclinical Studies, Early Phase I – IIa, Phase IIa – III, Phase IIIb – IV, Medical Coding and Writing, Monitoring, Clinical Data Management, Bio- statistics, Site Management and Protocol Development), by Molecule Type (Small Molecules and Large Molecules), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026 Pharmaceutical companies are now pushing hard to reduce overall manufacturing and research costs by outsourcing various processes related to research, development and manufacturing. Furthermore, patent expiration and generic drug competition, continue to fuel demand for pharmaceutical contract manufacturing organizations in the market. Rising number of Food and Drug Administration (FDA) approvals and clinical trials are supporting growth of biopharmaceutical industry, which in turn is fueling growth of the Contract Pharmaceutical Manufacturing Market. For instance, according to ClinicalTrials.gov, from September 2008 to October 2018, there were around 288,064 clinical trial studies registered. In addition, there is a significant increase over the past few years with registered clinical studies of 205,428, 233,234, and 262,429 in 2015, 2016, and 2017, respectively. Furthermore, stringent regulatory policies for clinical research studies and manufacturing make entire drug manufacturing process more complex, as it requires more resources to develop new drugs and

  2. biologics. These processes require expertise in broad scientific disciplines of preclinical, clinical, ancillary clinical in chemistry, packaging, manufacturing, project management, and regulatory affairs, which are provided by the CROs and CMOs. This is considered as a major reason for pharmaceutical companies to outsource clinical trials and manufacturing processes. Market Dynamics Contract manufacturing organizations (CMOs) provide wide range of manufacturing services, which include contract packaging, quality testing, and development service to pharmaceutical and biotechnology industries. Biopharmaceutical companies prefer CMOs due to the complexity involved in manufacturing process of biomolecules, as it consists of different shape, size, and behavior with significantly complex process than pharmaceutical drugs. Furthermore, by outsourcing manufacturing capabilities from contract manufacturing organization, allows recruiter firms to focus more on the research and development (R&D), product development, and marketing aspects. Pharmaceutical market is increasingly concentered with generic products and is highly competitive with various companies located in Asia Pacific, which are entering into the developed markets such as the U.S., Germany, France, and the U.K. Rising number of patents expiring in the near future serves to be a major opportunity for generic drugs manufacturers to prosper in the market. Ask For Sample Copy Of This Business Research Report : https://www.coherentmarketinsights.com/insight/request-sample/2397 Furthermore, mergers and acquisitions between generic drug manufacturers, with major players focusing on enhancing their product portfolio through inorganic strategies, will support the addition of generic drug portfolio into company’s offering and thus, generating demand for CMOs to fulfil it. For instance, in August 2016, Teva Pharmaceuticals Industries strengthened its position in the generic drugs market through acquisition of the generic segment of Allergan, plc for US$ 40.5 billion. This resulted in significant growth in revenue contribution of its generic drug segment, pegged at US$ 9.5 billion in 2016.

  3. Detailed Segmentation: •Global contract pharmaceutical manufacturing market, By Service Type: •Contract Manufacturing Organization (CMO) •API Manufacturing •Final dosage form manufacturing •Packaging •Contract Research Organization (CRO) •Drug Discovery •Preclinical studies •Early Phase I - IIa •Phase IIa - III •Phase IIIb - IV •Medical coding and writing •Monitoring •Clinical Data Management •Bio-statistics •Site management •Protocol development •Global Contract Pharmaceutical Manufacturing Market, By Molecule Type: •Small Molecules •Large Molecules

  4. Rising Demand for Generic Drugs is expected to Propel the Market Growth Development of generic drugs offer opportunities for manufacturers, as consumers’ demand for cost- effective pharmaceuticals is increasing. Patients being treated for chronic disease using generic drug are more likely to continue their drug therapy and have their prescriptions refilled than those using branded drugs. Moreover, the expiration of patents, emerging markets, increasing geriatric population, rising prevalence of chronic diseases, and the efforts of governments and healthcare service providers have contributed to the increased use and acceptance of generic drugs. This increasing demand for generic drugs is offering lucrative growth opportunity for contract pharmaceutical manufacturing organizations in the near future. Competitive Analysis Some of the key players operating in the contract pharmaceutical manufacturing market are Accenture plc, Cognizant Technology Solutions, ATOS SE, Catalent, Inc., Covance, Inc., Boehringer Ingelheim GmbH, Genpact Limited, Lonza Group, PAREXEL International Corporation, Quintiles Transnational Corporation, Abbvie, Inc., Baxter International Inc., Dr. Reddy’s Laboratories Ltd., Aurobindo Pharma, Pfizer, Inc., The Almac Group, Teva Pharmaceutical Industries Ltd. and Piramal Enterprises Ltd.

  5. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1–206–701–6702 Email: sales@coherentmarketinsights.com

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