The pharmaceutical contract manufacturing market is set to witness significant growth in the coming years. According to projections, the market size is expected to increase by USD 64.8 billion, growing at a compound annual growth rate (CAGR) of 8.1% from 2023 to 2028. This surge in market size is fueled by several key factors shaping the pharmaceutical industry today.

In terms of volume and value, India ranks as the 3rd and 13th largest pharmaceutical manufacturer globally. The country contributes approximately 10% to global pharmaceutical production.

The Indian pharmaceutical industry has grown by 18% over the past decade, solidifying its position on the global pharmaceutical map. The data from recent years shows that India not only has a strong presence in the global pharmaceutical market but is also a key player in shaping its future.

India plays a crucial role in the production and global supply of medicines. Currently, more than 80% of FDA-approved antiretroviral medicines used worldwide to combat AIDS are supplied by Indian pharmaceutical companies.

What is Contract Manufacturing?

Contract manufacturing refers to outsourcing certain production activities of a pharmaceutical company to third-party vendors. This can include the production of parts, components, or the finished product. For instance, pharmaceutical companies share the chemical composition or formula of a medicinal product with pharmaceutical Contract Manufacturing Organizations (CMOs), which then mass-produce the product at their facilities.

India has become a preferred destination for contract manufacturing due to its highly skilled talent pool and cost-effective labor. Firms from Europe, the USA, and recently Japan are shifting towards India, leveraging collaborative settings and facility sharing.

Contract manufacturing is increasingly recognized as a strategic choice for pharmaceutical companies looking to expand their global market presence. Key drivers of growth in the pharmaceutical contract manufacturing industry include:

• Shrinking profit margins in the highly competitive global pharmaceutical marketplace.
• Increasing demand for generic medicines and patent expiration of major therapeutic brands.
• Growing demand for state-of-the-art manufacturing processes.
• Need for high-quality facilities and cost-effective production technologies that comply with global regulatory requirements.
• Government initiatives to improve healthcare.
• Innovations in biologics and high-potency APIs (Active Pharmaceutical Ingredients).
• Rising incidence and growth rates of diseases such as cancer, cardiovascular disease, diabetes, and mental health disorders.

Role of Ikris Pharma Network (IPN) in Contract Manufacturing:

Ikris Pharma Network (IPN) offers contract manufacturing services to pharmaceutical companies and hospitals, producing products under their brand or through private label manufacturing. These services comply with the regulatory requirements of the specific country. India is recognized as a global hub for pharmaceutical manufacturing.

There are numerous advantages to having pharmaceutical products manufactured in India. The country is known for supplying high-quality generic medicines to the world, with over 10,500 pharmaceutical manufacturing companies and more than 600 US FDA-approved manufacturing plants.

If you're looking for contract manufacturing or private-label manufacturing, Ikris Pharma Network (IPN) can be your one-stop solution. For more information, please reach out to us via our toll-free number: 1800-889-1064, Call/WhatsApp: +91 8130290915, or Email: info@ikrispharmanetwork.com. The IKRIS team is always here to support you.