Summary

Global Pharmaceutical Contract Manufacturing And Research Services Market is valued approximately at USD 246.37 billion in 2023 and is anticipated to grow with a remarkable compound annual growth rate of more than 6.90% over the forecast period 2024–2032. As the pharmaceutical landscape continues to evolve under the dual pressures of rising R&D costs and complex regulatory landscapes, contract manufacturing and research organizations (CMOs and CROs) have emerged as vital enablers of innovation, speed-to-market, and global scalability. By outsourcing core processes such as drug formulation, clinical trial support, and bulk drug production, pharmaceutical giants and emerging biotech firms alike are optimizing operational efficiency, mitigating risks, and ensuring compliance. The industry’s growing reliance on external partners underscores a structural shift toward a leaner, more agile model of drug development and commercialization.
As the demand for customized therapies and advanced drug delivery systems surges, CMOs are strategically investing in high-potency APIs (HPAPIs), continuous manufacturing, and injectable technologies. Likewise, CROs are expanding their service portfolios into therapeutic areas such as oncology, cardiology, and neuroscience—where clinical research complexity requires deep expertise and regulatory know-how. With regulatory agencies placing increasing emphasis on data integrity, quality assurance, and pharmacovigilance, outsourcing partners are also investing in AI-enabled data analytics, digital twins, and automated workflow platforms to maintain a competitive edge.
Nonetheless, the sector contends with several challenges that can temper its otherwise strong momentum. From geopolitical instability impacting raw material supply chains to stringent patent cliffs and intellectual property management concerns, the road to seamless partnership execution is not without friction. Additionally, the rising cost of skilled labor, fluctuating exchange rates, and stringent Good Manufacturing Practice (GMP) compliance hurdles in emerging markets pose operational and strategic challenges for contract providers. However, these challenges are being offset by rising demand for integrated end-to-end solutions and the surge in biologics and biosimilars development, which require specialized capabilities and infrastructure.
The evolution of advanced formulations—ranging from nanoparticle-based carriers to transdermal patches and long-acting injectables—is creating lucrative opportunities for contract manufacturers capable of managing complex supply chains and delivering scalable, compliant output. At the same time, the decentralization of clinical trials and the rise of real-world evidence (RWE) are pushing CROs to develop hybrid and virtual trial models, enabling broader patient access and faster data collection across geographies. As global pharma companies continue to focus on core competencies, CMOs and CROs that provide value-added services and technological agility are poised for long-term growth.
From a regional standpoint, North America dominated the pharmaceutical contract manufacturing and research services market in 2023, driven by a mature pharmaceutical ecosystem, strong regulatory framework, and abundant capital flow into biotech startups. Europe followed closely, with key nations investing heavily in biopharma clusters and clinical research hubs. Meanwhile, Asia Pacific is expected to witness the fastest CAGR over the forecast period, fueled by cost-competitive manufacturing, favorable government policies, and a rapidly expanding talent pool. India and China, in particular, are emerging as pivotal outsourcing destinations, offering a compelling blend of capacity, compliance, and innovation. Latin America and the Middle East & Africa are also experiencing a steady uptick in demand, driven by improvements in healthcare infrastructure and the globalization of drug development.
Major market player included in this report are:
• Lonza Group AG
• Catalent Inc.
• Thermo Fisher Scientific Inc.
• Boehringer Ingelheim International GmbH
• AbbVie Inc.
• Recipharm AB
• Charles River Laboratories International, Inc.
• WuXi AppTec
• IQVIA Holdings Inc.
• Jubilant Pharmova Limited
• Samsung Biologics
• Siegfried Holding AG
• Piramal Pharma Solutions
• Cambrex Corporation
• Labcorp Drug Development
The detailed segments and sub-segment of the market are explained below:
By Manufacturing Services
• API/Bulk Drugs
• Advanced Drug Delivery Formulations
• Packaging and Finished Dose
By Formulations
• Solid Formulations
• Liquid Formulations
• Semi-Solid Formulations
By Research Services
• Oncology
• Vaccines
• Cardiology
• Neuroscience
• Other Research Services
By Region:
North America
• U.S.
• Canada
Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific
Latin America
• Brazil
• Mexico
Middle East & Africa
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa
Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032
Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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Table of Contents

Table of Contents
Chapter 1. Global Pharmaceutical Contract Manufacturing And Research Services Market Executive Summary
1.1. Global Pharmaceutical Contract Manufacturing And Research Services Market Size & Forecast (2022–2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Manufacturing Services
1.3.2. By Formulations
1.3.3. By Research Services
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Pharmaceutical Contract Manufacturing And Research Services Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Capacity & Infrastructure
2.3.3.2. Regulatory Environment
2.3.3.3. Quality Management (GMP Compliance)
2.3.3.4. Competitive Landscape
2.3.3.5. Cost Structures
2.3.4. Demand Side Analysis
2.3.4.1. Outsourcing Trends
2.3.4.2. R&D Investment Patterns
2.3.4.3. Therapeutic Area Focus
2.3.4.4. Regulatory Incentives
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
Chapter 3. Global Pharmaceutical Contract Manufacturing And Research Services Market Dynamics
3.1. Market Drivers
3.1.1. Rising R&D Outsourcing to Lower Costs
3.1.2. Surge in Biologics and Advanced Formulations
3.1.3. Demand for End-to-End Integrated Services
3.2. Market Challenges
3.2.1. Stringent Regulatory Compliance and Inspections
3.2.2. Intellectual Property and Data Security Concerns
3.2.3. Supply Chain Disruptions for Critical APIs
3.3. Market Opportunities
3.3.1. Expansion of Specialized High-Potency API Facilities
3.3.2. Growth of Virtual and Decentralized Clinical Trials
3.3.3. Emerging Outsourcing Hubs in Asia Pacific and Latin America
Chapter 4. Global Pharmaceutical Contract Manufacturing And Research Services Market Industry Analysis
4.1. Porter’s Five Forces Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s Model
4.1.7. Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspectives
4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Pharmaceutical Contract Manufacturing And Research Services Market Size & Forecasts by Manufacturing Services 2022–2032
5.1. Segment Dashboard
5.2. By Manufacturing Services Revenue Trend Analysis, 2022 & 2032 (USD Billion)
5.2.1. API/Bulk Drugs
5.2.2. Advanced Drug Delivery Formulations
5.2.3. Packaging and Finished Dose
Chapter 6. Global Pharmaceutical Contract Manufacturing And Research Services Market Size & Forecasts by Formulations 2022–2032
6.1. Segment Dashboard
6.2. By Formulations Revenue Trend Analysis, 2022 & 2032 (USD Billion)
6.2.1. Solid Formulations
6.2.2. Liquid Formulations
6.2.3. Semi-Solid Formulations
Chapter 7. Global Pharmaceutical Contract Manufacturing And Research Services Market Size & Forecasts by Research Services 2022–2032
7.1. Segment Dashboard
7.1.2. By Research Services Revenue Trend Analysis, 2022 & 2032 (USD Billion)
7.2.1. Oncology
7.2.2. Vaccines
7.2.3. Cardiology
7.2.4. Neuroscience
7.2.5. Other Research Services
Chapter 8. Global Pharmaceutical Contract Manufacturing And Research Services Market Size & Forecasts by Region 2022–2032
8.1. North America
8.1.1. U.S. Market
8.1.1.1. By Manufacturing Services, 2022–2032
8.1.1.2. By Research Services, 2022–2032
8.1.2. Canada Market
8.2. Europe
8.2.1. UK
8.2.2. Germany
8.2.3. France
8.2.4. Spain
8.2.5. Italy
8.2.6. Rest of Europe
8.3. Asia Pacific
8.3.1. China
8.3.2. India
8.3.3. Japan
8.3.4. Australia
8.3.5. South Korea
8.3.6. Rest of Asia Pacific
8.4. Latin America
8.4.1. Brazil
8.4.2. Mexico
8.5. Middle East & Africa
8.5.1. Saudi Arabia
8.5.2. South Africa
8.5.3. Rest of Middle East & Africa
Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Lonza Group AG
9.1.2. Catalent Inc.
9.1.3. Thermo Fisher Scientific Inc.
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Lonza Group AG
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Market Strategies
9.3.2. Boehringer Ingelheim International GmbH
9.3.3. AbbVie Inc.
9.3.4. Recipharm AB
9.3.5. Charles River Laboratories International, Inc.
9.3.6. WuXi AppTec
9.3.7. IQVIA Holdings Inc.
9.3.8. Jubilant Pharmova Limited
9.3.9. Samsung Biologics
9.3.10. Siegfried Holding AG
9.3.11. Piramal Pharma Solutions
9.3.12. Cambrex Corporation
9.3.13. Labcorp Drug Development
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes