DUBLIN--(BUSINESS WIRE)--The "European Pharmaceutical Contract Manufacturing Market Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.
European Pharmaceutical Contract Manufacturing is projected to have a considerable CAGR of around 6.1% during the forecast period. The outsourcing of pharmaceutical manufacturing products to outside vendors through a formal agreement is known as pharmaceutical contract manufacturing.
The contract manufacturing organizations serve the pharmaceutical industry and provide services related to manufacturing and drug development. Outsourcing with CDMO, pharmaceutical industries can expand their business and technical resources on a big level, and it enables pharmaceutical firms to reduce drug development costs and save time for further processes.
Additionally, pharmaceutical contract manufacturing company provides an array of services to drug companies include drug developments, manufacturing, and commercial production, pre-formulation, documentation of compliance with FDA regulatory requirements, among others.
The growing pharmaceutical industry owing to the rising demands for pharmaceutical products, and high expenditure in R&D activities are the major factors driving the growth of the European pharmaceutical contract manufacturing market. According to the European Federation of Pharmaceutical Industries and Association in 2018, the production of pharmaceutical products reached $315 billion, and $442 billion were invested in R&D. Moreover, increasing demand for generic drugs and the presence of major players is further contributing towards the market growth.
However, the issues over quality control and shift towards Asia-Pacific countries such as India and China for pharmaceutical outsourcing are hindering the growth of the European pharmaceutical contract manufacturing market. In addition, advances in drug discovery and increasing R&D investment by contract manufacturers are expected to create a significant opportunity for the market in the near future.
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Determinants
5. Market Segmentation
6. Regional Analysis
7. Company Profiles
Companies Mentioned
- AenovaGroup
- Almac Group Ltd.
- Aurena Laboratories AB
- Baxter Healthcare Corp.
- Beltapharm S.p.A
- Boehringer Ingelheim International GmbH
- Catalent Inc.
- Cenexi SAS
- CordenPharma International GmbH
- Delorbis Pharmaceuticals Ltd.
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