{"product_id":"north-american-finished-dosage-formulation-contract-manufacturing-market-2022-2028","title":"North American Finished Dosage Formulation Contract Manufacturing Market 2022-2028","description":"\u003cp\u003eNorth American Finished Dosage Formulation Contract Manufacturing Market 2022-2028\u003c\/p\u003e\n\n\u003cp\u003eGlobal Finished Dosage Formulation Contract Manufacturing Market Size, Share \u0026amp; Analysis by Type (Solid, Semi-Solid, Liquid (Oral), and Injectable) Forecast Period (2022-2028)\u003c\/p\u003e\n\n\u003cp\u003eIndustry Outlook\u003c\/p\u003e\n\n\u003cp\u003eThe pharmaceutical industry is driven by the contributions of drug manufacturers, research organizations, and pharmaceutical contract manufacturers. Outsourcing the manufacturing services in the pharmaceutical industry enables the companies to divert the workforce to other processing tasks, which, as a result, makes monetary savings and reduces the time for R\u0026amp;D activities. Drug development companies can save up to 30-35% of the drug development cost via contract manufacturing services. Therefore, to remain competitive in the market, contract manufacturing is considered crucial support for pharmaceutical companies. Pharmaceutical contract manufacturing is refers to the third-party manufacturing of pharma products or the management of services ranging from pre-clinical research, pre-formulation, scale-up, method development, and commercialization.\u003c\/p\u003e \n\n\u003cp\u003eIn the recent past, several pharmaceutical companies were focused on finding ways to minimize the cost of drug development and formulation, which in turn forced them to outsource drug manufacturing services. During the same time period, many US pharmaceutical giants initiated a partnership with contract manufacturers located in India and China. However, frail government drug regulation and inspection processes in China and India resulted in various enforcement actions, such as fines and the blocking of certain drugs. As a result of this, various drug manufacturers returned to North America. Due to this, the North American finished dosage formulation contract manufacturing market was valued at $9.1 billion in 2021 and is estimated to reach $13.5 billion in 2028, growing at a CAGR of 5.8% during the forecast period.\u003c\/p\u003e \n\n\u003cp\u003eSEGMENTAL OUTLOOK\u003c\/p\u003e\n\n\u003cp\u003eBASED ON TYPE, THE MARKET IS SEGMENTED INTO SOLID, SEMI-SOLID, LIQUID (ORAL), AND INJECTABLE. SOLID DOSAGE FORMS HELD THE HIGHEST MARKET SHARE OF 53.4% DURING THE FORECAST PERIOD. THE SOLID DOSAGE FORM MARKET WAS VALUED AT $4.9 BILLION IN 2021 AND IS ANTICIPATED TO REACH $7.1 BILLION BY 2028. ORAL SOLID DOSAGES ARE THE MOST COMMON DOSAGE FORM IN PHARMACEUTICALS USED TO TREAT A VARIETY OF CONDITIONS. TABLETS AND CAPSULES ARE WITNESSING HIGH MARKET SHARE ATTRIBUTED TO THEIR COST-EFFECTIVE NATURE AND SEVERAL ADVANTAGES OVER OTHER DOSAGE FORMS, SUCH AS CHEMICAL DURABILITY, STABLE TRANSPORT, SAFE PACKAGING, AND LOW PRODUCTION COSTS. INJECTABLE DOSE FORM IS PROJECTED TO GROW AT THE HIGHEST CAGR OF 7.5% DURING THE FORECAST PERIOD. THE GROWTH IS DRIVEN BY A SIGNIFICANT DEMAND FOR VACCINES AND INJECTABLE DRUGS FOR CANCER AND DIABETES.\u003c\/p\u003e\n\n\u003cp\u003eCOUNTRY LEVEL OUTLOOK\u003c\/p\u003e \n\n\u003cp\u003eBASED ON COUNTRY, THE MARKET IS SEGMENTED INTO THE US AND CANADA. THE US HELD THE HIGHEST MARKET SHARE OF 90.4% IN 2021 AND ACCOUNTED FOR $8.2 BILLION, GROWING AT A CAGR OF 5.7% DURING THE FORECAST PERIOD. THIS IS ATTRIBUTED TO AN INCREASE IN HEALTHCARE EXPENDITURE AND SIGNIFICANT PHARMACEUTICAL VOLUME SALES IN THE COUNTRY. FURTHERMORE, THE RISE IN DEMAND FOR THE COVID-19 VACCINE AND THE DEMAND FOR INJECTABLE DRUG DELIVERY DUE TO THE RISE IN THE PREVALENCE OF CHRONIC CONDITIONS SUCH AS DIABETES AND CANCER IN THE US FUELED THE GROWTH OF THE PHARMACEUTICAL CONTRACT MANUFACTURING MARKET.\u003c\/p\u003e\n\n\u003cp\u003eMARKET PLAYER OUTLOOK\u003c\/p\u003e\n\n\u003cp\u003eMajor companies such as Catalent, Inc., Pfizer CentreOne, Baxter International, Inc., Thermo Fisher Scientific, Inc., Abbvie, Inc., and West Pharmaceutical Services, Inc. are major players providing finished dosage formulation contract services. These players are continuously expanding their capabilities to obtain a dominant position in the industry by adopting various strategies such as mergers and acquisitions, geographical expansion, and partnerships.\u003c\/p\u003e\n\n\u003cp\u003eFEW MARKET ACTIVITIES-\u003c\/p\u003e\n\n\u003cp\u003eIN JUNE 2022, PFIZER CENTREONE ANNOUNCED PLANS TO EXPAND ITS MAJOR MANUFACTURING NETWORK IN KALAMAZOO, MICHIGAN. THIS $465 MILLION INVESTMENT IN KALAMAZOO WILL PLAY A KEY ROLE IN ALLOWING THE COMPANY TO ENHANCE ITS MODULAR ASEPTIC PROCESSING (MAP) PRODUCTION CAPABILITIES.\u003c\/p\u003e\n\n\u003cp\u003eIN MAY 2022, PFIZER OPENED A $350 MILLION STATE-OF-THE-ART DRUG MANUFACTURING SITE IN FREIBURG, GERMANY, TO HELP OFFER GREATER SUPPORT TO ITS EUROPEAN PARTNERS ACROSS A RANGE OF FORMULATION MANUFACTURING SERVICES. OVERALL, THE NEW SITE HAS NOW INCREASED ITS TOTAL CAPACITY TO UP TO 12 BILLION TABLETS AND CAPSULES PER YEAR, CORRESPONDING TO A 140% INCREASE.\u003c\/p\u003e","brand":"Life Science","offers":[{"title":"March, 2023 \/ 102 Pages \/ MCW16228404","offer_id":47646858150194,"sku":null,"price":6150.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/north-american-finished-dosage-formulation-contract-manufacturing-market-2022-2028","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}