Thermo Fisher Scientific, Inc. (US) and Lonza Group (Switzerland) are Leading Players in the Pharmaceutical Contract Manufacturing Market
The pharmaceutical contract development and manufacturing market is estimated to reach USD 258.3 billion by 2028 from USD 176.5 billion in 2023, at a CAGR of 7.9% during the forecast period. The growth of this market is mainly driven by the increased adoption of outsourcing drug development & manufacturing by pharma companies. Furthermore, the escalating cost of in-house drug development and increased demand for generics coupled with the looming patent expiry of blockbuster drugs is likely to uplift market growth in coming years.
The prominent players operating in the pharmaceutical contract development and manufacturing market are Thermo Fisher Scientific, Inc. (US), Catalent, Inc. (US), Lonza Group (Switzerland), AbbVie, Inc. (US), and WuXi AppTec (China).
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Thermo Fisher Scientific, Inc. (US)
Thermo Fisher Scientific, Inc. (US) is one of the leading player in the pharmaceutical contract development and manufacturing market in 2022. The company’s leading position is attributable to its diversified service portfolio, strong geographic presence, and adoption of organic and inorganic growth strategies. The company has adopted different growth strategies, such as deals that include agreements, acquisitions, and expansions, to maintain its leading position in the pharmaceutical contract development and manufacturing market. Thermo Fisher Scientific has concentrated its focus on the implementation of advanced technologies for continuous manufacturing. For example, in February 2023, the company entered into an agreement with Elektrofi, which supported the establishment of a cGMP-compliant platform.
Lonza Group (Switzerland)
Lonza Group is one of the prominent player in the pharmaceutical outsourcing industry. Geographically, the company has a footprint in 40 countries across the globe and is further expanding its network. The company has adopted growth strategies such as expansions & acquisitions and focusing on emerging markets to expand its presence in the pharmace
Related Reports:
Pharmaceutical Contract Manufacturing Market by Service (Pharmaceutical (API, FDF - Tablet, Capsule, Injectable)), Biologic (API, FDF), Drug Development), End User (Big Pharma, Small & Medium-sized Pharma, Generic Pharma) - Global Forecasts to 2028
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