While the U.S. maintains its market lead, overall increase in the pharmaceuticals and medical devices usage should spur development in emerging markets.
The contract manufacturing organization (CMO) market has begun expanding services into early stage drug development, complex technology transfers and flexible capacity supply in order to create higher success in the market.
The sector’s growth constitutes a 6.4 percent CAGR over a six-year period.
A compact prototype machine from Massachusetts Institute of Technology produces pharmaceutical pills more quickly than traditional factories.
More pharma companies are trying to gain competitive advantage in contract pharmaceutical manufacturing by focusing on research and development of drugs.
Samsung Group is planning to list its subsidiary Samsung BioLogics on South Korea’s main stock exchange later this year.
The FDA wants more drug makers to transition to continuous processing, which it says enables faster and more reliable production.