DUBLIN–(BUSINESS WIRE)–The “China Pharmaceutical Contract Manufacturing Market Research and Forecast 2022-2028” report has been added to ResearchAndMarkets.com’s offering.
The China pharmaceutical contract manufacturing market is growing at a CAGR of around 12.1% during the forecast period. The major factor that drives the growth of the market includes the major companies in the pharmaceutical contract manufacturing market are expanding their manufacturing capacity in China.
For instance, In August 2020, Bayer AG announced the submission of the regulatory application seeking the approval of vericiguat in China. Vericiguat is an investigational oral, once-daily, first-in-class soluble guanylate cyclase (sGC)-stimulator being developed to treat patients with symptomatic chronic heart failure with an ejection fraction less than 45%. Vericiguat is being jointly developed with MSD (a tradename of Merck & Co., Inc., Kenilworth, NJ, USA).
Additionally, the increasing prevalence of non-communicable diseases, such as (Cardiovascular disease) CVD, and cancer, with the increasing geriatric population is also boosting the market growth. For instance, the incidence of prostate cancer has increased rapidly in China in recent years. According to the World Health Organization (WHO), in 2018, China witnessed around 4.2 million new cancer incidences and over 2.8 million cancer mortalities.
Moreover, the country is also aimed to reduce cardiovascular events in patients with increased triglycerides and low-density lipoprotein (LDL) cholesterol. It shows the efforts of China contract manufacturers towards drug development, which in turn is projected to increase the China pharmaceutical contract manufacturing market.
In addition, the increasing development of China pharma trades to the US pharma industry and rising demand for biosimilars is also driving the market growth. However, issues over quality control and stringent government regulations are creating a hindrance in the growth of China’s pharmaceutical contract manufacturing market. Additionally, increasing advances in drug discovery & development and MAH (Marketing Authorization Holder) pilot program are expected to offer significant opportunities for market growth.
Segmental Outlook
The market is segmented based on manufacturing process type, product type, route of administration, and service. Based on manufacturing process type, the market is segmented into sterile manufacturing and non-sterile manufacturing. Based on product type, the market is segmented into over-the-counter (OTC) drugs, active pharmaceutical ingredients (API), finished dosage formulation, and others (nutritional products and packaging).
Based on route of administration, the market is segmented into oral administration, inhaled administration, parenteral administration, and others (rectal and vaginal). Based on service, the market is segmented into R&D, manufacturing, and non-clinical service such as supply chain management.
The API segment is projected to dominate the China pharmaceutical contract manufacturing market
Among product types, the API segment is estimated to be the dominating segment in the China pharmaceutical contract manufacturing market. The market is increasing in API is due to the increasing demand for API manufacturing, the key players in this market are focusing on the advancement of biological APIs.
Additionally, the increasing initiatives by the regional government in biologics, increasing healthcare expenditure, increasing prevalence of cancer and age-related diseases. Moreover, the biologics manufacturing services segment accounted for the highest growth rate. The major factor driving the growth of this segment is the growing demand for vaccines and biosimilars.
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Determinants
5. Market Segmentation
6. Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/zbsr7v
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