Faridabad - According to a new technical market research report, CONTRACT PHARMACEUTICALS MANUFACTURING, RESEARCH, AND PACKAGING (PHM043C) from BCC Research (http://www.bccresearch.com), the global market for contract pharmaceuticals is worth an estimated $177 billion in 2009, and is expected to increase to $299 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 11.1%.
The largest segment of the market, contract manufacture of over-the-counter (OTC) and nutraceuticals, is projected to increase at a CAGR of 11.4% to reach $177 billion by 2014, rising from an estimated $103.1 billion in 2009.
Contract manufacture of bulk- and dosage-form drugs, the second-largest segment, is estimated to be worth nearly $44 billion in 2009, and is projected to increase at a CAGR of 10.8% to reach $73.1 billion in 2014.
The third-largest segment, contract research, is expected to reach $40.6 billion in 2014, for a 5-year CAGR of 10.7%. Its 2009 value is estimated at $24.4 billion.
The smallest segment, contract packaging, is projected to have a CAGR of 8%, increasing from $5.5 billion in 2009 to $8.1 billion in 2014.
Many pharmaceutical companies choose outsourcing as an option, or choice, to better market their products without spending time in drug discovery and the manufacturing process. These pharmaceutical companies rely on contract manufacturers and researchers. This study examines the different types of contracting companies in the pharmaceuticals industry. BCC analyzes each market and its applications by its need for outsourcing, regulatory environment, technology involved, market projections, and market share. Technological issues include the latest trends and developments.
Pharmaceutical and biopharmaceutical companies are dependent on the contracting companies due to increased generic competition, declining R&D productivity, rising drug development costs, constricting patent life, and fewer drug discoveries. With the increasing demand to reduce capital expenditures and protect their margins, pharmaceutical companies are outsourcing their non-core activities, such as active pharmaceutical ingredients (API) and intermediates manufacturing, to low-cost destinations like India and China. This study contributes to the areas of growth in this market sector from the point of view of manufacturers and users. Biochemical companies, physicians, the pharmaceuticals and biopharmaceuticals industries, and research companies will find value in this study.
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