Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Pharmaceutical Contract Manufacturing Service Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the pharma and healthcare industry. This report breaks down the data and analysis behind the procurement of pharmaceutical contract manufacturing services and acts as an all-inclusive guide for making smart purchasing decisions.
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Global Pharmaceutical Contract Manufacturing Service Procurement Market Intelligence Report (Graphic: Business Wire)
“There is a high demand for contract manufacturing services among small and virtual companies across geographies as they possess limited manufacturing capabilities in terms of resources as well as infrastructure,” says SpendEdge procurement analyst Bhuvaneshwari Udayakumar. “Also, due to the low cost of labor, raw materials, and infrastructure in APAC the demand for pharmaceutical contract manufacturing services in this region is expected grow over the forecast period,” added Bhuvaneshwari.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Pharmaceutical Contract Manufacturing Service Market:
- The shift in focus from cost considerations to quality and value
- Growing preference for continuous manufacturing
- Increase in demand for process development services
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The shift in focus from cost considerations to quality and value:
Organizations across the globe have started shifting their focus on quality and reliability as the two primary factors from the traditional element of cost savings; this helps them eliminate supply chain risks and delays arising due to non-compliance issues. The shift to an integrated sourcing model has resulted in a number of buyers engaging in a strategic partnering model with suppliers. Moreover, it also helps the buyers in mitigating risks from any supply chain or quality issues.
Growing preference for continuous manufacturing:
There is a high preference for the adoption of continuous manufacturing due to the growing popularity and awareness about its benefits. Continuous manufacturing is being used for manufacturing API’s and finished dosage forms. This processing technology offers various benefits including higher operational efficiency and enhancements in processing. Moreover, the adoption of continuous manufacturing helps improve quality due to better transparency and safety control over the batch processing.
Increase in demand for process development services:
The lack of in-house laboratory infrastructure, expertise, and personnel for GMP manufacturing in small and mid-sized companies have led to the increase in demand for process development services. Such firms rely on specialized CMOs for several aspects of process improvements. Moreover, outsourcing services to dedicated suppliers help the buyers in streamlining operations. It also helps in reducing the number of solvents and reagents used.
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
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