Latin America Pharmaceutical Contract Manufacturing & Research Services Market Report

Latin America Pharmaceutical Contract Manufacturing & Research Services Market Analysis By Service (Manufacturing, Research), By Country, (Brazil, Mexico, Colombia, Argentina, Chile, Venezuela), And Segment Forecasts, 2014 - 2025

Published: January 2017  |  156 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-745-2

Industry Insights

Latin America pharmaceutical contract manufacturing and research services market was valued at over USD 11.4 billion in 2015. Drug shortfall, rising competition, tighter budgets, insufficient resources, and patent expiration are some of the key factors boosting growth in the market over the forecast period.

Moreover, the shift from cost control to value-added solutions, unveiling of novel technical facilities, and risk sharing between pharma and CMOs, are expected to serve as drivers. Companies have begun investing efforts in order to meet the increasing demand for biological drugs, which in turn, leads to surge in number of biologics available for clinical use. This steady commercial success of biopharmaceuticals is expected to accelerate growth of contract manufacturing market over the forecast period.

Mexico pharmaceutical contract manufacturing services market, by service type, 2014-2025 (USD Million)

Mexico pharmaceutical contract manufacturing services market

Furthermore, in-house R&D at biopharmaceutical majors is no longer the sole source of successful innovation in the industry, with novel molecules discovered by small-to-mid capital companies before being acquired by established players. As a consequence, CROs have increasingly begun to highlight contract wins with such smaller biotech entities as an important driver of sustainability in volumes.

Latin American companies are enhancing their global market presence by investing efforts for the modification and expansion of domestic specialty manufacturing facilities as well as focusing on worldwide partnerships. On the other hand, expansion of international and well established companies, such as Pharmaceutical Product Development Inc (PPD) and QuintilesIMS, in countries like Brazil, Mexico, Argentina, and Chile is expected to fuel growth in Latin American market. These countries are perceived to have great potential for pharmaceutical development.

Service Insights

Contract manufacturing services comprise the solutions and facilities for the manufacture of API/bulk drugs, advanced drug delivery formulations, packaging, and finished dose formulations. These services accounted for the largest share in 2015 market in terms of revenue generation, as large number of global companies are seeking for outsourcing of therapeutic development from production of drug substance (APIs) to finished drug product due to limited capacity and lack of expertise.

Contract research services are expected witness fastest year on year growth. One of the major drivers for this growth is clinical testing cost requirement which has skyrocketed in past few years and total cost is expected to increase by few million dollars every year. Consequentially, this compels pharmaceutical companies to outsource clinical research aspect of drug development.

Latin America pharmaceutical contract manufacturing services market, by country, 2015 (USD Million)

Latin America pharmaceutical contract manufacturing services market

Regional Insights

Brazil accounted for the largest share of over 78%. Factors driving revenue generation in this country include the developing biotechnology hub in north-eastern region of the country. Moreover, presence of numerous GMP-certified plants and low manufacturing costs are attracting investors from other regions to establish their presence in this country, consequently impacting the market share positively.

Moreover, increase in pharmaceutical spending contributes to development of more comprehensive healthcare systems in Brazil. Recently, Brazil has implemented one of the largest universal healthcare systems in the world - the Sistema Único de Saúde (Unified Health System) for improving healthcare system in the country. This achievement is expected to bolster growth of Brazilian pharmaceutical industry. Continuous efforts by the Chilean government to strengthen intellectual property protection in biopharmaceutical industry is expected to foster the progress of CMOs/CROs in this country.

Competitive Insights

Some of the prominent players operating in this vertical include Boehringer Ingelheim GmbH; Lonza; Pfizer, Incorporated. (Pfizer CenterOne); Charles River Laboratories International, Inc; Albany Molecular Research, Inc; Covance, Inc. (LabCorp); QuintilesIMS; Pharmaceutical Product Development, LLC; Recipharm AB; AbbVie, Inc. These entities are undertaking endeavors to maintain their share in market over the forecast period. These endeavors include acquisition & mergers, regional expansion, and enhancement of service provision.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million & CAGR from 2016 to 2025

Country scope

Brazil, Mexico, Colombia, Argentina, Chile, Venezuela

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at regional & country level and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the Latin America pharmaceutical contract manufacturing services market on the basis of services and country:

  • Service Outlook (Revenue, USD Million; 2014-2025)

    • Manufacturing

      • API/Bulk Drugs

      • Advanced Drug Delivery Formulations Packaging

      • Packaging

      • Finished Dose Formulations

        • Solid Formulations

        • Liquid Formulations

        • Semi-solid Formulations

    • Research

      • Oncology

      • Vaccines

      • Inflammation & Immunology

      • Cardiology

      • Neuroscience

      • Others

  • Country Outlook (Revenue, USD Million; 2014-2025)

    • Brazil

    • Mexico

    • Colombia

    • Argentina

    • Chile

    • Venezuela

    • Rest of Latin America

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