MOUNTAIN VIEW, Calif., Aug. 28, 2013 /PRNewswire/ -- Cost benefits and pharmaceutical companies' desire to focus on their core competencies has created an increasing need for outsourcing and spurred the global pharmaceutical contract manufacturing market. Expiring blockbuster drug patents will reduce manufacturing capacity utilization rates and boost outsourcing further.
New analysis from Frost & Sullivan (http://www.lifesciences.frost.com), Global Pharmaceutical Contract Manufacturing Market, finds the market earned revenue of $13.43 billion in 2012 and estimates this to reach $18.49 billion in 2017. This research explores solid dose, liquid and semi-solid dose, and injectable dose formulations.
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Pharmaceutical and biotechnological emphasis on complex disease areas, trends in disease control, growth in emerging markets, and reformulation of existing products have widened the scope of the contract manufacturing market.
"Investments and capacity expansions in the injectable dose formulation segment are in the near future, as it is likely the most significant source of income for the global pharmaceutical contract manufacturing industry," said Frost & Sullivan Healthcare Research Analyst Aiswariya Chidambaram. "Cytotoxics manufacturing, in particular, offers immense growth potential, given the demand from the cancer research and therapy segments."
The global pharmaceutical contract manufacturing market remains highly fragmented with many contract manufacturing organizations (CMOs) relying on one clien
|SOURCE Frost & Sullivan|
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