'Pharmaceutical Contract Manufacturing Market Will Reach $47.6 Billion in 2012' Predicts Visiongain Report

'Pharmaceutical Contract Manufacturing Market Will Reach $47.6 Billion in 2012' Predicts Visiongain Report PR Newswire LONDON, September 11, 2012 LONDON, September 11, 2012 /PRNewswire/ -- A new report by visiongain predicts that the world market for pharmaceutical contract manufacturing will be worth $47.6 billion in 2012. Between 2011 and 2016, the overall market will grow with a compound annual growth rate (CAGR) of over 6%. Demand for outsourcing will increase worldwide, driving revenue growth. Those findings and others appear in Pharmaceutical Contract Manufacturing: World Market Outlook 2012-2022, published in August 2012. In 2011, active pharmaceutical ingredient (API) manufacturing services formed the largest market sector, accounting for more than two thirds of revenues. APIs will account for the majority of revenues throughout the coming 10 years. Increased demand for generic drugs will drive revenue growth for emerging-market contract manufacturing organisations (CMOs). Highly potent API (HPAPI) manufacturing will drive growth in the US and Europe. Increased outsourcing of finished dosage manufacturing will also stimulate developed-market growth. Development of biologics will increase demand for injectable dosage manufacturing services, including fill-finish and lyophilisation, the report also notes. Richard Lang, a pharmaceutical industry analyst for visiongain, said: "Difficult economic conditions caused revenue to drop for many leading CMOs in recent years.