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Contract manufacturing sector growing at 12 per cent, report

05-Jul-2010

The global contract manufacturing market was worth $22.5bn (€18.9bn) at the end of 2009, according to new research from RNCOS which also predicts a 12 per cent growth rate through to 2012.

The “Global Manufacturing Market Analysis” report suggests the expansion of the contract manufacturing industry is primarily due “to the rising cost pressure on pharmaceuticals companies.

It also forecasts that emerging markets such as India, China or Brazil will help contract manufacturers increase revenues, look for different ways to reduce costs and explore new options to expand the outsourcing of drug manufacturing.

RNCOS concludes that by working hand in hand with contract manufacturing organisations (CMO) pharmaceutical companies benefit from additional “production capacity, quicker time to market and low scale up costs.