A globally growing population and a gradually transforming healthcare sector are witnessing the growth in the healthcare contract manufacturing market. Valued a USD 129.91 billion at the end of 2016, the global healthcare contract manufacturing market is expected to grow at an above average CAGR of 9.86% during the forecast period of 2017 to 2023.
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The global healthcare sector is undergoing some major changes as new technologies, and various other factors make their mark. The patent expiry of various popular drugs and medical devices is encouraging new players to enter the market, thus increasing competition. Subsequently, the increased competition has compelled leading market players to reform their existing business strategies in order to perpetuate further market growth. In response to growing expenses on R & D and the increased focus of major player on various other core strategies, have boosted the market for healthcare contract manufacturing organizations (CMOs). Additionally, the global demand for effective drugs and medical devices has grown substantially, and in order to meet these demands successfully, major players are turning to contract manufacturing. Emerging economies are expected to be vital in the future of this market due to the high concentration of expertise and increasingly available research & development technologies. These countries offer lower operating costs, comparatively cheap, experienced labor and supportive government bodies that aim to improve the regional healthcare sector. The sanction of Good Manufacturing Practice certificates in emerging economies has contributed considerably to the growth of the healthcare contract manufacturing market.
The growing cost of R&D and the complexity of the supply chain combined with difficulties regarding control of 3rd parties may hinder market growth during the forecast period. However, the need for product innovation, the growing outsourcing of various other activities such as design, feasibility tests, and validation are expected to provide ample opportunity for growth of the market in the coming years.
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.
Healthcare Contract Manufacturing Market – Geographical Analysis
The health care contract manufacturing market in North America region accounts for the largest market, Worldwide. Attributing to the growing activities of outsourcing the manufacturing processes, by the key players operating in this market; North America leads the global market for Healthcare Contract Manufacturing. The US, backed by the expanded healthcare industry in the country, accounts for the largest market share owing to
Europe is the second-largest market for Healthcare Contract Manufacturing. Attributing to the presence of the promising players in the countries like the UK, Switzerland, and Germany; the regional market is expected to grow at a considerable CAGR.
Whereas the Asia Pacific is expected to be a fastest growing market for healthcare contract manufacturing. The substantial investments by CMOs in APAC are resultantly sufficing the exponential progress. Also, the factors such as availability of cost-competitive, skilled labor force propelling the market growth in APAC.
The MEA Region certainly holds the potential for a vast development & production for the pharmaceutical products, which in turn is transforming into a global hub. Cost competitive product development is undoubtedly the key factor driving the regional market growth.
Key Players
Prominent players that have been analysed in the report include market leaders such as Evonik Industries, Teva Pharmaceutical Industries, Vetter Pharma International, Mylan, Patheon, Sanmina Corporation, Forefront Medical Technologies, Hamilton Company, Flex Ltd., AbbVie, Boehringer Ingelheim, Lonza AG, Catalan, Aesica Pharmaceuticals, Benchmark Electronics, Grifols International S.A., and others.
Latest Industry News
AstraZeneca and Saudi Pharmaceutical Industries & Medical Appliances Corporations (SPIMACO) have signed an agreement which initiates the launch of the contract manufacturing operation in the KSA.
Orgenisis, a contract manufacturer for advanced cell therapies, has formed a partnership with Great Point Partners, in order to finance and expand Orgenisis contract development business under a newly formed subsidiary called Masthercell Global.
1 Report Prologue
2 Market Introduction
2.1 Definition 19
2.2 Scope of the Study 19
2.3 List of Assumptions 19
2.4 Market Structure 20
3 Research Methodology
3.1 Research Process 22
3.2 Primary Research 23
3.3 Secondary Research 24
3.4 Market Size Estimation 25
3.5 Forecast Model 25
4 Market Dynamics
4.1 Introduction 27
4.2 Drivers 28
4.2.1 Patent Protection Expiration of Major Drugs and Medical Devices Will Boost the Market Growth 28
4.2.2 Competition and Economics of Production and Trade to Favor CMO 28
4.2.3 Mutual Benefits to Both Contract Manufacturer and Client are Likely to Have a Positive Impact on Healthcare Contract Manufacturing 28
4.2.4 Lean Manufacturing and Agility 29
4.3 Restraints 30
4.3.1 Supply Chain Complexity and Issues of Control of 3rd Parties May Hamper the Market 30
4.3.2 Standardization and Interoperability Issues 30
4.3.3 Growing Cost of Noncompliance and Counterfeited Medicines May Hamper the Market Growth 30
4.4 Opportunities 31
4.4.1 Research & Development 31
4.4.2 Personalization & Customization 31
4.5 Challenges 32
4.5.1 Loss of Research and Innovation Ability 32
4.5.2 Growth in Exposure to Natural and Human-Made Threats 32
5 Market Factor Analysis
5.1 Value/Supply Chain Analysis 34
5.1.1 Raw Material 34
5.1.2 Supplier 34
5.1.3 Manufacturer 35
5.1.4 Distributor 36
5.1.5 Customer 36
5.1.6 Consumer 36
5.2 Porter’s Five Force Analysis 37
5.2.1 Threat from a New Entrant 38
5.2.2 Bargaining Power of Buyer 38
5.2.3 Bargaining Power of Supplier 39
5.2.4 Threat from Substitute 39
5.2.5 Rivalry 39
5.3 Investment Opportunity Analysis 40
5.3.1 Market Size (Current & Future), Growth Rate & Profitability 40
5.3.2 Investment Risks 40
5.3.3 Market outlook 40
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