BANGALORE, August 10, 2015 /PRNewswire/ --
Mordor Intelligence releases their report on the Global Pharmaceutical Contract Manufacturing market is segmented by Dose Formulation type (Solid Dose Formulation, Liquid Dose Formulation, Injectable Dose Formulation - By Geographical Region (North America, Europe, Latin America, APAC, Middle East & Africa) - Drivers, Restraints, Vendor Profiles, Global Market Size, Forecasts & Analysis (2015-2020).
The Global Pharmaceutical Contract Manufacturing market was worth $58 billion in 2014 and is projected to reach $84 billion in 2020, at a compound annual growth rate of 6.4% for the forecasted period. The companies in the upstream industry are undergoing restructuring so as to focus more on R&D, while stringent regulations on the Pharmaceutical industry are compelling the companies to outsource the manufacturing of the drugs and focus on their core business process. Active Pharmaceutical Ingredient (API) holds the highest market share while final dosage form is estimated to be the top growing segment during the forecasted period.
India is estimated to be the fastest growing Contract Manufacturing Market owing to its cost competitive and quality manufacturing capabilities. Pharmaceutical companies are going for less number of vendors to take volume advantage and at the same time reduce logistics costs.
Contract manufacturing market is growing significantly, since the pharmaceutical companies are focusing more on R&D of the drugs instead of manufacturing the formulated drug to stay competitive in the market. These factors are driving the Pharmaceutical Contract Manufacturing Market.
Pharmaceutical companies are increasingly relying on contract manufacturing, research, and packaging services to fulfill their basic needs and specialized competencies. The companies are striving to minimize costs and reduce the product development time while at the same time being productive and efficient
The major segmentation in the report includes the market estimates by Dose Formulation type of Pharmaceutical Contract Manufacturing such as Solid Dose Formulation, Liquid Dose Formulation and Injectable Dose Formulation. The report provides an in depth analysis of Contract Manufacturing Market related to Pharmaceutical industry across different Geographical regions namely North America, Europe, Asia Pacific, Latin America, and Middle East and Africa along with further country wise segmentation
The Pharmaceutical Contract Manufacturing market report includes competitive vendor landscape while considering major companies such as Famar, Recipharm, Jubilant, Vetter, Pfizer Central Source, Aenova, Catalent, Haupt Pharma, and Others
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SOURCE Mordor Intelligence LLP