Cytotoxic Drugs Contract Manufacturing Market Valued to be US$ 13.7 Billion By 2027 with CAGR of 9.1% from 2020 to 2027
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According to Global Cytotoxic Drugs Contract Manufacturing Market Report, by Production Scale (Industrial Scale, Pilot Scale, and Laboratory Scale), By Form (Liquid, and Solid), by Product Type (Oral and Intravenous), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), published by Coherent Market Insights, the global cytotoxic drugs contract manufacturing market was valued at US$ 6,285.2 million in 2018 and is expected to exhibit a CAGR of 9.1% over the forecast period (2019-2027).
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Government initiatives to expand local drug manufacturing capacities are expected to propel growth of the global cytotoxic drugs contract manufacturing market over the forecast period. For instance, in August 2017, according to the Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers, Government of India, proposed ‘peak customs duty’ and suggested setting up of bulk drug parks to increase domestic production.
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Among form, liquid segment accounted for the largest market share in the global cytotoxic drugs contract manufacturing market in 2018
Among product type, intravenous segment accounted for the largest market share in the global cytotoxic drugs contract manufacturing market in 2018. This is attributed to expansion of sterile injectable and API manufacturing facilities. For instance, in March 2017, Piramal Pharma Solutions expanded manufacturing capabilities in Lexington, U.S. The new facility includes installation of a new high-speed vial filling line, expansion of the state-of-the art laboratories, and associated utility support.
Among regions, Asia Pacific is expected to witness significant growth in the global cytotoxic drugs contract manufacturing market over the forecast period. This is attributed to significant growth of the pharmaceutical sector in the region. For instance, according to the Indian Brand Equity Foundation (IBEF), India pharmaceutical industry is expected to reach US$ 55 Bn by 2020.
North America is expected to hold dominant position in the global cytotoxic drugs contract manufacturing market over the forecast period. This is attributed to increasing facility expansion activities in the region. For instance, in 2016, Cambrex, a leading small molecule API contract manufacturer expanded its facility at Iowa, Charles City-based manufacturing site, adding 1,000- and 4,000 gallon glass-lined reactors in 7,500-square-foot plant.
Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in November 2017, CordenPharma International, a contract provider of both small-molecule APIs and drug products, acquired a Hospira Boulder facility from Pfizer Inc., a 54,000-square-foot API manufacturing facility located in Colorado, U.S.
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Major players in the market are focused on expanding their product portfolio. For instance, in October 2017, Lonza Group established Lonza Collaborative Innovation Center (CIC) in new Life Science Park in Haifa, Israel, to accelerate leading R&D projects across Lonza’s Pharma & Biotech segment.
In April 2018, STA Pharmaceutical, a subsidiary of WuXi AppTec, signed an investment agreement with the Government of Shanghai, to build a new research & development (R&D) center for APIs and intermediates located next to the company’s existing Jinshan drug-substance manufacturing site.
- The global cytotoxic drugs contract manufacturing market is expected to exhibit a CAGR of 9.1% over the forecast period
- Major players operating in the global cytotoxic drugs contract manufacturing market include Lonza Group, Piramal Group, Evonik Industries AG, Novasep Holding SAS, Merck KGaA (SAFC Pharma), Baxter Biopharma Solutions, AbbVie Contract Manufacturing, Cambrex Corporation, BSP Pharmaceuticals S.p.A., CordenPharma International, Catalent, Inc., Albany Molecular Research Inc., Evotec, WuXi AppTec Co., Ltd., Pierre Fabre Laboratories, and Dishman Group
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