The existing biologics-development pipeline supports an outlook of continued strong growth for contract manufacturing. Annually, the number of biotech patents applied for has been mounting at approximately 23 percent. There are currently more than 1,500 biomolecules undergoing clinical trials, which are targeting more than 100 hundred types of diseases; the success rate for biologics has so far been over twice that of small-molecule products. Pharmaceutical contract manufacturing plays an important role in commercial manufacturing as well as late clinical phase of solid dosage drug production. Big pharma companies have limited capacity for biopharmaceutical production due to high operating and production costs, and this leads to the outsourcing of pharmaceutical drug production through contract manufacturing.
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The COVID-19 pandemic has affected the market quiet significantly. Lockdowns in the first half of 2020 led to shortage of human resources, thereby slowing down oral solid dosage contract manufacturing. In addition, it also led to severe disruption in the supply chain of raw material, which further led to interrupted development activities. The pandemic also resulted a large number of pharmaceutical companies channeling their major focus on the development of COVID-19 products. However, with rapid changes in the business models adopted by contract manufacturing companies, and with the improving situations as a result of the introduction of vaccines, the future looks bright. The global oral solid dosage contract manufacturing market is estimated to be valued at around US$ 21 Bn in 2020, with the market expected to exhibit a CAGR of close to 6% over the forecast period (2020-2030).
Key Takeaways from Study
- By product, tablets dominated with a market share of almost 55%, and will further observe a rise in market share during the forecast period, due to increasing usage of tablets as compared to other forms.
- Under release mechanism, again tablets will dominate the market, contributing for more than half of the revenue share.
- The market in India and China is growing at a significantly high rate (around 7% CAGR), due to rising number of contract manufacturing organizations and low manufacturing costs in these countries. Thus, it can be concluded that, these markets will represent highly lucrative growth opportunities during the forecast period.
- Pharma /biotech companies, both big and small. Will hold bulk of the market share through 2030, at around three-fourth share.
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Oral Solid Dosage Contract Manufacturers Aiming to Fortify their Position through Acquisitions
Key market leaders of pharmaceutical solid dosage contract manufacturing are constantly focusing on industrial developmental activities such as acquisition of small- and mid-sized companies to expand their service portfolios, which will accelerate market growth. Growing preference for contract manufacturing of pharmaceutical products is attracting market leaders to expand their manufacturing capacities through strategic acquisition of small companies. In order to meet the drug manufacturing needs of global biotech, pharmaceutical, and generic drug customers, contract manufacturers are focusing on expansion of their industrial and commercial platforms through acquisitions.
- For instance, in September 2018, Cambrex Corporation acquired a leading contract development and manufacturing organization (CDMO) Halo Pharma (Halo), located in New Jersey, U.S., and Canada, to expand its contract manufacturing services.
Key Participant Insights
The global oral solid dosage contract manufacturing market is set to expand its scope during the forecast period due to strong biologics pipeline, increasing activities by key players, and rise in adoption of CDMO and CMO business models. The market is expected to grow exponentially, especially in Asia, with India and China representing maximum growth potential.
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