Healthcare Contract Manufacturing Market to Gain 9.8% CAGR During the Forecast Period (2018-2023): MRFR

Overview:

The healthcare contract manufacturing market is benefiting much from the growing demand for medicine supplies which is facing a severe crisis from the pending expiration of a lot of generic drugs. The market relies heavily on the outsourcing of the manufacturing process of drugs to contract manufacturers. From drug development to drug manufacturing, a comprehensive platform this healthcare contract manufacturing sector provides. The from drug development to drug manufacturing market is expecting a growth by 9.86% during the forecast period (2017-2023), claims Market Research Future (MRFR). The report ensures a detailed analysis of the segments and driving factors that can assist the market in growth over the review period. 

Among the factors, patent expiration of several drugs can be deemed as one of the chief influencers that can foster the market growth during the forecast period. Emerging economies are demanding for greater percolation as the population boom in those countries have created scope for substantial market expansion. Drug manufacturers are also looking for significant contribution from these companies as number of drugs in the pipeline is getting piled up. Factors such as these are bound to boost the global from drug development to drug manufacturing market.

On the flip side, controlling third parties is quite complex which many manufacturers prefer to avoid. At the same time, clinical trials are becoming more exhaustive and tangled which can deter the healthcare contract manufacturing market from having the expected growth rate over the review period.

Segmentation:

The global healthcare contract manufacturing market can be segmented by type, service type, and industry.

Based on the type, the healthcare contract manufacturing market can be segmented into sterile and non-sterile.

On the basis of the service type, the healthcare contract manufacturing market includes pharmaceutical contract manufacturing services, medical device contract manufacturing services.

Industry-wise segmentation of the healthcare contract manufacturing market includes pharmaceutical, medical device, and biopharmaceutical.

Regional Analysis:

Region-specific analysis of the global healthcare contract manufacturing market includes the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).

The Americas is in charge of the global healthcare contract manufacturing market. With rising investment in healthcare, the focus is mainly on improving healthcare infrastructure and upgrading research institutions for better technology and others. Subsequently, manufacturers are now relying more on the advanced instruments they have put in use in their factories and manufacturing capabilities. 

Europe assumes the second position in the market and the credit goes to the increased expenditure initiated by the regional governments. The reports published by the Organization for Economic Co-operation and Development (OECD) discloses that Germany spent USD 321 billion in 2014 in the healthcare sector which is a significant marker of the progress the regional market is making at present. 

The APAC is the fastest growing market as major regional economies such as China and India are considerably investing to better their healthcare facilities to lure in patients from all over the world as a part of their medical tourism planning.

Competitive Analysis:

Some of the key players in this healthcare contract manufacturing market are Aesica Pharmaceuticals, Boehringer Ingelheim, AbbVie, Grifols International, S.A, Evonik Industries, Lonza Ag, Catalent, Benchmark Electronics, Flex Ltd, Forefront Medical Technologies, Hamilton Company, Sanmina Corporation, Teva Pharmaceutical Industries, Patheon, Mylan, Vetter Pharma International, and others.

In August 2018, Catalent completed their move to acquire Juniper. This would give the former a new and robust European base to function. Catalent, as the parent company of Juniper, would ensure the supply of Crinone marketed by Merck KGaA. 

In January 2018, Intermountain Healthcare declared their plan to create a non-profit generic drug company as a direct manufacturer or contract manufacturer in collaboration with Ascension, SSM Health, and Trinity Health. 

Read More @ https://www.marketresearchfuture.com/reports/healthcare-contract-manufacturing-market-5637

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