/PRNewswire/ The "Global Pharmaceuticals Contract Development & Manufacturing Market (2021-2026) by Service, End-user, Geography and the Impact of COVID-19.
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The Global Pharmaceutical Contract Development & Manufacturing Market is estimated to be USD 100 Bn in 2020 and is expected to reach USD 142.2 Bn by 2025 growing at a CAGR of 7.3%.
One of the reasons for the increase in the pharmaceutical contract development and manufacturing industry is the growth of developing biotech. Most of the companies are continuously involved in the development of complex drug compounds to address a specific disease.
Most of the companies lack the infrastructure required for formulation, clinical, and regulatory agency submission. A partnership with a pharmaceutical contract manufacturer can provide another viable option. By working cooperatively, a biotech company, a donor company, and a pharmaceutical contract manufacturer can move a product into the global markets.