Wellesley, MA (PRWEB) September 19, 2013
According to a new technical market research report, Global Markets for Contract Pharmaceutical Manufacturing, Research and Packaging from BCC Research (http://www.bccresearch.com), the global market for pharmaceutical and biopharmaceutical contract manufacturing, research, and packaging was valued at $219.9 billion in 2012 and is expected to reach $242.2 billion by 2013. BCC Research projects the market to reach nearly $374.8 billion by 2018, and register a compound annual growth rate (CAGR) of 9.1%.
Increasing price and cost pressures, regulatory changes, and patent expiries are leading to shrinking margins in the pharmaceutical industry. Outsourcing has become a viable and a beneficial business strategy that is enabling firms to transfer non-core activities to external partners in order to restructure their distribution networks, leverage resources, spread risk, focus on issues imperative to survival, competitive advantage, and future growth. Outsourcing once considered as a cost-saving initiative is now viewed as a “strategic competitive weapon” that offers flexibility in production, satisfies end users’ growing demands, and enhances a company’s competitive advantage.
Contract manufacturing, research, and packaging are advantageous to both parties to the contract as it provides the manufacturing company with financial stability for the duration of the contract and the hiring company the benefit of cost savings, time saved in operating and managing a production facility, and research. Moreover, outsourcing can be important in overcoming the trade barriers and at times is used to gain entry into to a foreign market where the government works to secure local employment through local production. Many industries have now begun to explore the advantages of contracting their research, production and packaging, leading to a steady market for these services.
Factors such as cost control, R&D spend, new technologies, increasing competition, and patent expiries for generic drugs are moving this industry in a new direction. BCC Research expects new advancements, product launches, and changing technologies to drive the market growth in the foreseeable future.
This new report from BCC Research covers contract manufacturers, contract research, and contract packaging in the pharmaceutical and biotechnology markets. Each market and its applications, regulatory environment, technology, market projections and market shares are analyzed. Technological issues discussed in this report include the latest trends and developments. The emerging markets for contract manufacturing research, and packaging, including countries such as India, China, Japan, Korea, Taiwan, Canada, Africa, Australia, and New Zealand are examined in detail. In addition, acquisition strategies and collaborations by companies as well as the strengths and weaknesses of each type of technology in light of growing competition and changing market needs are also covered in this report.
Applications and various formulations for which contract manufacturing, research and packaging are widely used are also discussed separately in the report. The report also takes into account various new developments and regulatory aspects in this industry. The report also covers significant patents in each category.
This study contributes to the market growth of contract manufacturers, contract research, and contract packaging and users. Pharmaceutical, biotechnical companies, research institutes, and companies involved in the packaging of pharmaceutical and biotechnology products will also find this study to be of interest.