Healthcare Contract Manufacturing Market Growth & Trends
The global healthcare contract manufacturing market size is expected to reach USD 347.5 billion by 2030, expanding at a CAGR of 9.5% during the forecast period, according to a new report by Grand View Research, Inc. The changing regulatory landscape coupled with rising offshoring to emerging countries is anticipated to propel the healthcare contract manufacturing market growth over the forecast period. For instance, in June 2023, FUJIFILM Diosynth Biotechnologies announced to have a commercial office in Tokyo, offering contract development and manufacturing services for advanced therapies and biologics to Asian pharmaceutical and biotechnology companies.
Due to the emergence of infections, such as COVD-19 many organizations are attempting to accelerate production to meet the growing demand. Thus, these companies are appointing healthcare CMOs to speed up their production processes, as well as reduce their overall costs to meet the increasing demand for medical products. The worldwide effort to develop a vaccine and therapeutic agent against COVID-19 has created the greatest opportunity for many large as well as small CMOs as the pharmaceutical companies are manufacturing vaccine doses on large scale. Hence, the pandemic had a positive impact on this industry.
Increasing demand for advanced products is another factor driving the industry scale. Original Equipment Manufacturers (OEMs) are outsourcing the manufacturing activities of medical devices to third parties, mainly in developing countries to gain economic benefits. Furthermore, these regions are witnessing rising cases of chronic conditions such as heart disorders, thereby positively affecting the market growth. Changes in reimbursement schemes are some of the major factors anticipated to increase the adoption of cost containment measures by OEMs. For instance, to prevent reimbursement issues from impacting financing goals, device manufacturers are developing a well-planned reimbursement strategy in parallel with their regulatory and clinical strategies in the early phases of product development.
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Healthcare Contract Manufacturing Market Report Highlights
- The pharmaceutical segment dominated the market with a share of 65.1% in 2022 owing to a low manufacturing budget and highly sophisticated contract manufacturing service offerings
- The medical devices segment is expected to be the fastest-growing segment with a CAGR of 9.7% owing to increasing pressure on OEMs to reduce costs and enhance the timeline for taking a product to market
- Cardiology is the dominant category in the medical device contract manufacturing segment, with a revenue share of 20.6% in 2022, owing to the rising demand for cardiovascular devices as a result of the increasing prevalence of associated heart conditions
- Asia Pacific is expected to witness lucrative growth of 10.6% from 2023 to 2030, owing to the presence of a large number of service providers, lower costs, and growing demand for medical devices in the region
- Based on end use segment, the pharmaceutical and biopharmaceutical companies category held the highest revenue share of 55.6% in 2022. High segment shares are mainly due to the increasing rate of biologics approval across the globe, thereby boosting demand for its bulk production contract manufacturing services
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Healthcare Contract Manufacturing Market Segmentation
Grand View Research has segmented the global healthcare contract manufacturing market based on type, end use, and region:
Healthcare Contract Manufacturing Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Medical Devices
- Service
- Accessories manufacturing
- Assembly manufacturing
- Component manufacturing
- Device manufacturing
- Therapeutic Area
- Cardiology
- Diagnostic imaging
- Orthopedic
- IVD
- Ophthalmic
- General & plastic surgery
- Drug delivery
- Dental
- Endoscopy
- Diabetes care
- Others
- Pharmaceutical
- API/Bulk Drugs
- Advanced drug delivery formulations
- Packaging
- Finished dose formulations
- Solid
- Liquid
- Semi-solid formulations
- Service
Healthcare Contract Manufacturing End-use Outlook (Revenue, USD Billion, 2018 - 2030)
- Medical Device Companies
- Pharmaceutical & Biopharmaceutical Companies
- Others
Healthcare Contract Manufacturing Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- US.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Belgium
- Netherlands
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Philippines
- Malaysia
- New Zealand
- Singapore
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
- Israel
List of Key Players of Healthcare Contract Manufacturing Market
- Nordson Corporation
- Integer Holdings Corporation
- Jabil Inc.
- Viant Technology LLC
- FLEX LTD.
- Celestica Inc.
- Sanmina Corporation
- Plexus Corp.
- Phillips-Medisize
- West Pharmaceutical Services, Inc.
- Synecco Ltd
- Catalent, Inc.
- Thermo Fisher Scientific Inc.
- Recipharm AB
- Boehringer Ingelheim International GmbH
- Lonza
- Samsung Biologics
- WuXi AppTec
- FUJIFILM Diosynth Biotechnologies
- Cambrex Corporation
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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