The Latin America pharmaceutical contract manufacturing & research services market size is expected to reach USD 40.3 billion by 2030, according to this report. The market is expected to expand at a CAGR of 7.4% from 2023 to 2030. The low manufacturing costs and growing demand for generics are the key factors driving the market growth. Moreover, factors, such as the growing pharmaceutical industry, rising investments in R&D, and technological advancements, are responsible for market growth. The shift from cost control to value-added solutions, the introduction of novel technologically equipped facilities, and risk-sharing between pharma and CMOs are also contributing to the industry growth.
Companies have started financing efforts to meet the rising demand for biological drugs, which, in turn, leads to an increase in the development of pharmaceutical products. This steady commercial success of biopharmaceuticals is expected to accelerate the growth of the regional market for pharmaceutical contract manufacturing & research services over the forecast period. Pharmaceutical contract manufacturing and research activities in Brazil are subject to severe requirements to maintain Good Manufacturing Practices (GMP) and Good Laboratory Practices (GLP) compliance. These laws cover a wide range of topics, such as facility requirements, quality control systems, documentation practices, and employee qualifications.
Contract manufacturing and research companies must receive the relevant authorizations and certificates from ANVISA, which includes a thorough review of their facilities, processes, and quality management systems. Technological advances in areas, such as biopharmaceutics, personalized medicine, and analytical methods, have increased the complexity of drug production and research processes. Outsourcing these functions to specialist contract service providers in Latin America can provide access to state-of-the-art facilities and expertise.
Companies have started financing efforts to meet the rising demand for biological drugs, which, in turn, leads to an increase in the development of pharmaceutical products. This steady commercial success of biopharmaceuticals is expected to accelerate the growth of the regional market for pharmaceutical contract manufacturing & research services over the forecast period. Pharmaceutical contract manufacturing and research activities in Brazil are subject to severe requirements to maintain Good Manufacturing Practices (GMP) and Good Laboratory Practices (GLP) compliance. These laws cover a wide range of topics, such as facility requirements, quality control systems, documentation practices, and employee qualifications.
Contract manufacturing and research companies must receive the relevant authorizations and certificates from ANVISA, which includes a thorough review of their facilities, processes, and quality management systems. Technological advances in areas, such as biopharmaceutics, personalized medicine, and analytical methods, have increased the complexity of drug production and research processes. Outsourcing these functions to specialist contract service providers in Latin America can provide access to state-of-the-art facilities and expertise.
Latin America Pharmaceutical Contract Manufacturing & Research Services Market Report Highlights
- Manufacturing services dominated the market with the largest share of 66.2% in 2022. Based on services, the market is segmented into manufacturing and research. Contract manufacturing services comprise the solutions and facilities for the production of API/bulk drugs, advanced drug delivery formulations, packaging, and finished dose formulations
- Brazil accounted for the largest revenue share of 69.4% in 2022. The low manufacturing costs of pharmaceuticals and the presence of a significant number of GMP-certified plants are attracting investors from other countries to establish their presence in Brazil
- Mexico is anticipated to register a considerable CAGR of 7.5% during the forecast period. This is due to the Indian pharmaceutical industry investing in the country
- Key players have undertaken various growth strategies, such as business expansion, mergers, and acquisitions, to gain higher market shares. For instance, in September 2020, Charles River Laboratories Inc. announced that it has opened a microbial identification lab in Brazil
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Latin America Pharmaceutical Contract Manufacturing & Research Services Market Variables, Trends & Scope
Chapter 4. Latin America Pharmaceutical Contract Manufacturing & Research Services Market: Service Estimates & Trend Analysis
Chapter 5. Latin America Pharmaceutical Contract Manufacturing & Research Services Market: Country Estimates & Trend Analysis
Chapter 6. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Lonza
- Boehringer Ingelheim International GmbH
- Pfizer Inc.
- Charles River Laboratories
- Laboratory of America Holdings
- Recipharm AB
- IQVIA, Inc.
- AbbVie, Inc.
- Catalent, Inc.
- West Pharmaceutical Services, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | June 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 22.5 Billion |
| Forecasted Market Value ( USD | $ 40.3 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Latin America |
| No. of Companies Mentioned | 10 |
