LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Drug Substance Manufacturing Market 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 drug substance manufacturing solutions and acts as an all-inclusive guide for making smart purchasing decisions.
“The global market for drug substance manufacturing is driven by the demand from small and mid-size pharmaceutical companies that may not possess the scale and expertise in manufacturing operations,” says SpendEdge procurement analyst A Kowshik. “Also, the buyers are increasingly outsourcing their manufacturing requirements due to cost benefits such as reduction in fixed costs and access to innovative technologies with minimal investments,” added Kowshik.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Drug Substance Manufacturing Market:
- The advances in parenteral manufacturing driven by demand for flexibility and quality.
- The increase in biologics manufacturing capacities.
- Rise in M&A activity in CMO supply pool.
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The advances in parenteral manufacturing driven by demand for flexibility and quality:
The global drug substance manufacturing market is experiencing improvements in parenteral manufacturing, especially in the drug manufacturing process. The advances include the increase in automation through the use of robotics, as it helps in cutting down the manual work by automating the entire production line. Moreover, the use of these technologies has greatly enhanced product quality and reduced complexities along with a significant reduction in costs.
The increase in biologics manufacturing capacities:
The enhancements in product technologies and new product approvals have led to the growth of the biologics segment. This high growth opportunity is increasing the manufacturing capacity of CMOs for the biologics segment to cater to the growing demand from various companies. Also, the increase in production capacities have led to the enhancement of the overall market output and have helped in cutting down costs.
The rise in M&A activity in CMO supply pool:
M&A is expected to be the prevailing trend in this market space over the forecast period owing to various factors like the need to enhance service portfolio and provide niche services. Also, the need to improve the global footprint to meet customers' demand and for achieving cost efficiencies is one of the major factors that is driving M&A. Moreover, the increase in M&A will provide buyers with greater access to synergized technologies and better service efficiencies.
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