Global Healthcare Contract Manufacturing Outsourcing Market: Market Research by Knowledge Sourcing Intelligence
Global Healthcare Contract Manufacturing Outsourcing (CMO) market is projected to witness at a healthy CAGR during the forecast period. Increasing healthcare costs is pushing pharmaceutical companies and medical device manufacturers to outsource certain processes to focus on core competencies, such as R&D and marketing. Furthermore, high competition in the global healthcare industry requires market players to tap new opportunities in terms of the manufacturing process, product design, and marketing strategies. All these factors are augmenting the demand for healthcare contract manufacturing outsourcing services across the globe. Geographically, Asia Pacific (APAC) is projected to witness the fastest regional market growth at a CAGR of XX.XX% during the forecast period owing to the presence of cheap yet skilled workforce in the region, thereby encouraging companies to outsource certain manufacturing activities in APAC.
 |
| Global Healthcare Contract Manufacturing Outsourcing Market Forecast |
Global Healthcare Contract Manufacturing Outsourcing Market by Services:
The global market for healthcare contract manufacturing outsourcing by services is segmented as pharmaceutical CMO and medical device CMO. These segments are sub-segmented into major specific services being outsourced by healthcare companies. The market for pharmaceutical CMO accounted for XX% as the major market share in 2016. This growth is attributed to the entry of new small- and mid-size companies in the global pharmaceutical industry. CMO is majorly important for new entrant since these companies lack the capital needed to build an advanced pharmaceutical manufacturing facility.
The rising demand for OTC drugs and low-cost substitutes of patent-expired drugs has led to a rise in demand for API manufacturing worldwide. However, in-house manufacturing is witnessing a rapid decline due to its lack of profitability and increasing competition. Pharmaceutical companies are inclined towards API contract manufacturing owing to the rising cost of R&D coupled with the increased pressure to maintain low prices of finished goods. Increasing demand for generic drugs is compelling pharmaceutical manufacturers to outsource the API manufacturing while focussing on the core competencies.
Global Healthcare Contract Manufacturing Outsourcing Market by Geography:
Geographically, Global Healthcare CMO market is segmented as Americas, Europe Middle East and Africa, and the Asia Pacific. These regions are further segmented into countries which are important markets for healthcare CMO. Americas held the largest market size in 2016 of worth US$X.XXX billion. However, APAC region is projected to witness the growth at the highest CAGR of X.XX% between 201 and 2021 owing to factors such as the presence of affordable skilled workforce, implementation of favorable policies and regulations, tax benefits, and technological advancements in the region. Significant capacities are being built up by CMOs in Asia to tap a greater global market share due to improved intellectual property rights in the region. Recently, WuXi AppTec had a $120 million investment in an integrated biologics solution center in Shanghai, China to open in 2017. The market research provides a detailed analysis of global healthcare contract manufacturing outsourcing market on the basis of the various segment like- by geography, by services, etc.
 |
| Sample View of Global Healthcare Contract Manufacturing Outsourcing Market Forecast by Geography |
Request Free Sample or Download the report:
global healthcare contract manufacturing outsourcing market sizeFor our Healthcare Industry coverage:
global healthcare contract manufacturing outsourcing market trends
Owing to the popularity semi-solid dose formulations are gaining presently, pharmaceutical companies will incline towards outsourcing of semi-solid dose formulations manufacturing in the coming years.
Connect with us:
Comments
Post a Comment