(PharmaNewsWire.Com, February 19, 2018 ) Contract manufacturing is an outsourcing of certain production activities that were previously performed by the manufacturer to a third party. A company may outsource the manufacture of certain components for the product or outsource the assembly of the product.
The market was estimated to grow in the coming years due to the implementation of the innovative drugs.
Latin America pharmaceutical contract manufacturing market was valued at over $11.7 billion in 2017 and is expected to grow during the forecast period owing to the increasing innovative drugs and also the drug shortfall and insufficient resources are boosting the growth of the market.
Companies have begun investing efforts in order to meet the increasing demand for the biological drugs which in turn leads to the surge in a number of biologics available for the clinical use. This steady commercial success is expected to accelerate the growth of the market.
Key players in the market include: Recipharm AB Catalent, Inc. Patheon Inc. Jubliant life sciences Ltd Boehringer Ingelheim
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