Healthcare Contract Manufacturing Market Size to Exhibit CAGR of +9% by 2032 | insightSLICE
A CAGR of 9% is projected for the Global Healthcare Contract Manufacturing Market until 2032, with a market value of US$ 165 billion in 2021.
Contract manufacturing refers to a manufacturer working with another company to create specific outputs or inputs over a commonly agreed-upon period of time.
The healthcare contract manufacturing industry works with other businesses to provide extensive facilities from drug development to drug production for the manufacture of medical devices and pharmaceuticals.
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Global Healthcare Contract Manufacturing Market Key Segments:
By Type:
- Sterile
- Non-sterile
By Service Type:
- Pharmaceutical Contract Manufacturing Services
- Medical Device Contract Manufacturing Services
By Industry:
- Biopharmaceutical
- Medical Device
- Pharmaceutical
By Geography:
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
The key players of the Global Healthcare Contract Manufacturing Market are:
Major companies involved in the Global Healthcare Contract Manufacturing Market are AbbVie, Patheon, Boehringer Ingelheim, Aesica Pharmaceuticals, Benchmark Electronics, Catalant, Evonik Industries, Flex Ltd, Forefront Medical Technologies, Grifols International, S.A, Hamilton Company, Lonza AG, Mylan, Teva Pharmaceutical Industries, Sanmina Corporation, and Vetter Pharma International.
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A sizable industry, healthcare contract manufacturing includes a sizable number of integrated services. A few of the services include the manufacturing of OTC medications and dietary supplements, packaging, sophisticated drug delivery products, active pharmaceutical component manufacturing, and final dosage form manufacturing.
Similar to other contract manufacturing industries, healthcare manufacturing includes a variety of services such as outsourcing design, final product assembly, device manufacture, and more.
Electronic manufacturing services, material processing services, and completed goods all fall under the category of device manufacturing services. Furthermore, a major driver of market growth is the rising demand for high-tech goods.
Medical device manufacturing is being outsourced by equipment manufacturers, primarily to poor nations. Additionally, the prevalence of heart disorders is raising the demand for cardiac equipment, which is beneficial for the growth of this market.
Major contributors to the growth:
Cardiology held the largest market share in 2019 and is predicted to see a significant growth rate over the course of the evaluation period.
The growth of outsourcing of these devices is credited with increasing demand for cardiac devices as a result of an increase in the prevalence of illnesses associated with them.
Additionally, there is more subcontracting for cardiovascular devices due to the high complexity of these devices and the need for technological expertise.
The pharmaceutical, medical device, and biopharmaceutical industries have been divided into categories to describe the global market. Due to the robust development of the worldwide medical device sector, the medical devices segment held a 43 percent income stake in the market in 2019, dominating it.
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Regional performance of Healthcare Contract Manufacturing Market
The APAC region dominated the market in 2019 and is anticipated to continue dominating during the evaluation period due to improved healthcare infrastructure and the growth of emerging economies.
Additionally, the lower cost of conducting clinical trials in this area eventually encourages manufacturers to relocate their manufacturing units, which ultimately supports the market expansion in the Asia Pacific region.
Due to the presence of numerous major firms in the North American region, North America is also predicted to have significant growth over the evaluation period. To meet the increasing demand for medicines and medical devices, these firms.
The market was dominated by the medical devices category until now:
Based on industry, service type, and type, the global market for healthcare contract manufacturing can be segmented. The market can be segmented into sterile and non-sterile segments based on type segmentation.
Pharmaceutical contract manufacturing services and medical device contract manufacturing services are both included in the healthcare contract manufacturing industry, depending on the service type.
The healthcare contract manufacturing market is segmented into the biopharmaceutical, medical device, and pharmaceutical sectors based on industry.
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