The considerable pharma downsizing and the rise of newer small-and medium virtual biotech firms are contributing to an increase in pharma outsourcing and widening the lane for growth in the contract development and manufacturing space. According to an analysis conducted by Grand View Research, the current outsourced market is estimated to be $90 billion and is projected to grow at a CAGR of 7 percent to reach $117.3 billion by 2023, representing 30 percent of the overall manufacturing requirements.
This growth is mainly driven by consolidating and combining a contract research organisation (CRO) and contract development manufacturing organisation (CDMO) business model targeted to create a new global market standard based on the concept “CRDMO”. The “R” of CRDMO brings the dimension of research as the key metric to ensure a successful connection between R&D and manufacturing, to become “one-stop shops” capable of supporting outsourcing projects across the whole drug development lifecycle, from discovery up to commercialisation.
To put the spotlight on such vital developments in the domain, Pharma Tech Outlook highlights how pharma outsourcing companies are leveraging the latest technologies to gain insights effectively and have a more streamlined decision-making relationship with the outsourcing partner. The edition features thought leadership articles from By Nick Thomson, Senior Director, Chemical Research and Development at Pfizer Inc, Timothy White, Vice President and Head of Global Digital Commercial, Teva Pharmaceuticals, Ming Li, Director, Bioanalytical and Biomarker Outsourcing Operations at Alexion Pharmaceuticals. They shed light on topics such as cost reduction from open inbound innovation, reducing development costs, generating a new revenue stream from spin-offs and licenses, and adoption of automated bioanalysis workflow.
In this edition of Pharma Tech Outlook magazine, we also bring you the story of some of the most promising pharma outsourcing companies in Europe and UK that deliver the best outcomes for their clients. The edition features the story of Pharmacare Premium, developing generic oncology products. We also bring you the story of SONEAS Chemicals Ltd, which provides tailored services to several pharmaceutical and biotech firms by conducting early-stage product development and manufacturing, as well as pre-clinical activities to optimise the product development cycle and improve speed to market.
Through the following pages, we aim to shine a light on the innovative trends and latest developments in the pharma outsourcing space. We would like to know your thoughts.
