Healthcare Contract Manufacturing Market Size Worth $323.6 Billion By 2028: Grand View Research, Inc.
The global healthcare contract manufacturing market
size is expected
to reach USD 323.6 billion by 2028, according to a new report by Grand View Research, Inc. It is expected
to expand at a CAGR of 7.7% from 2021 to 2028. The changing regulatory landscape, coupled with rising offshoring to emerging countries, is anticipated to propel the market growth over the forecast period.
Key suggestions from the report:
By type, the pharmaceutical segment dominated the market with a share of 75.2% in 2020 owing to low manufacturing budget and highly sophisticated contract manufacturing service offerings
The medical device type segment is expected to be the fastest-growing segment with a CAGR of 9.7% over the forecast period owing to increasing pressure on OEMs to reduce costs and enhance the timeline for taking a product to market