Global Healthcare Contract Manufacturing Market
Global Healthcare Contract Manufacturing Market was valued US$ XX Bn in 2019 and is expected to reach US$ 290.30 Bn by 2027, at a CAGR of 7.50 % during a forecast period.
Global Healthcare Contract Manufacturing Market
The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Healthcare contract manufacturing delivers highly valuable services to the pharmaceutical and biotech industry by offering manufacturing capacity, access to specialty capabilities, and potential cost advantages over in-house manufacturing.
The number of adults aged 65 and older is expected to increase at a 3.2% rate of CAGR. The baby boomer generation ages are expected to consume healthcare services. Healthcare contract manufacturing growth is expected to drive by the rising pressure from customers to reduce the cost of manufacturing and accelerate time to market to capture market share. An increase in the geriatric population is expected to increase demand for medical devices and supplies. A large patient-base with limited health resources are expected to push key players toward subcontracting of activities like assembling and packaging. The healthcare contract manufacturing has witnessed a significant trend among pharma companies to increase the amount of discovery, development, and manufacturing work that they outsource.
The regulation presents the biggest risk in the healthcare contract manufacturing market. The production of medical devices is highly regulated and that is depending on the jurisdiction. For instance, the US uses licensed facilities, and Europe looks to ISO-13485 accreditation and others. The healthcare contract manufacturing market is evolving at a rapid pace and becoming more complex and challenging. Medical device developers have to ensure that their products can be manufactured efficiently to avoid additional costs.
Medical Device Contract Manufacturing is segment is expected to contribute XX% share in the global healthcare contract manufacturing market. The landscape of medical device manufacturing has rapidly changed across the globe. Some of the prominent medical device OEMs have combined complimentary skills to gain maximum market share. They are choosing to outsource technical and production services to trusted partners to reduce their manufacturing footprint.
North America region holds the XX% market share across the globe for healthcare contract manufacturing. An increase in requirement for advanced and efficient medical devices is driving the growth of the market in the U.S. Also, growth in the healthcare expenditure, the medical requirement of the aging population, and the number of surgeries cases are some of the driving factors behind the market growth.
Despite the pharmaceutical market is expected to grow at a rapid rate, political turmoil is currently affecting the wider world economy. For instance, Trump’s trade war against China and the chaos of the Brexit process in the UK are creating market uncertainty in the healthcare contract manufacturing market. The pharmaceutical industry tends to operate on longer timelines over political cycles and the fundamentals of the business are expected to remain solid and high confident during the forecast period.
Global Healthcare Contract Manufacturing Market, Competitive Analysis:
The medical key players are looking to partner with a single source, which can handle all aspects of new product development from concept to commercialization. A single point of communication and accountability has the potential to recapture outsourcing promises. Contract manufacturing can dramatically accelerate time to market for medical device makers. Big pharma is now looking to consolidate their supplier base and form deeper ‘strategic partnership’ relationships with suppliers. The prominent key players are investing majorly in the R&Ds intending to deliver high quality and innovative products. An increase in demands for healthcare products like medicines, vaccines, diagnostics devices, implants, and other therapeutic medicines and devices are expected to drive the healthcare contract manufacturing market.
Global Healthcare Contract Manufacturing Market1
The objective of the report is to present a comprehensive analysis of the Global Healthcare Contract Manufacturing Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Healthcare Contract Manufacturing Market dynamics, structure by analyzing the market segments and projects the Global Healthcare Contract Manufacturing Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Healthcare Contract Manufacturing Market make the report investor’s guide.
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Scope of the Global Healthcare Contract Manufacturing Market
Global Healthcare Contract Manufacturing Market, By Type
• Sterile
• Non-Sterile
Global Healthcare Contract Manufacturing Market, By Service Type
• Pharmaceutical Contract Manufacturing
• Medical Device Contract Manufacturing
Global Healthcare Contract Manufacturing Market, By Industry
• Pharmaceutical Industry
• Medical Device Industry
• Biopharmaceutical Industry
Global Healthcare Contract Manufacturing Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Healthcare Contract Manufacturing Market
• Tecomet Inc.
• Viant
• Flex Ltd
• Celestica Inc.
• Sanmina Corporation
• West Pharmaceutical Services Inc.
• Synecco Ltd
• Plexus Corp
• Cantel Medical Corp.
• Danaher Corporation
• Integer Holdings Corporation
• Jabil Inc.
• AMETEK Inc
• Teleflex Incorporated
• Carpenter Technology Corporation
• Nordson Corporation
• Flex Ltd.
• Integer Holdings Corporation
• LISI S.A.
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