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Pharmaceutical Contract Manufacturing Market Size to Hit USD 174.2 Billion by 2027 at 6% CAGR – Report by Market Research Future (MRFR)

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New York, USA, Nov. 16, 2022 (GLOBE NEWSWIRE) — Pharmaceutical Contract Manufacturing Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Pharmaceutical Contract Manufacturing Market Information By Type and Region – Forecast till 2027”, the market is expected to cross USD 174.2 Billion by 2027 at a CAGR of 6.0% during the forecast period 2020 to 2027.

Market Scope:

Pharmaceutical firms research and manufacture medications as outsourced operations, generating revenue and expanding into new markets while freeing up space for additional drug discoveries.

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Report Scope:

Report Attribute Details
Market Size in 2027 USD 174.2 Billion
CAGR 6%
Base Year 2019
Forecast Period 2020-2027
Historical Data 2018
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Type
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers Rising demand for next-generation biological therapies
Increased demand for innovative drugs

Pharmaceutical Contract Manufacturing Market Competitive Outlook:

Key Players of the market are

  • Grifols International
  • S.A
  • Catalant
  • AbbVie Inc
  • Boehringer Ingelheim
  • Lonza AG
  • Vetter
  • Patheon Inc.
  • Pharmaceutical Product Development

Pharmaceutical Contract Manufacturing Market Dynamics:

Market Drivers

During the last decade, the Pharmaceutical Contract Manufacturing Market has exploded as doctors have become increasingly interested in cutting-edge science in their pursuit of cures for fatal diseases. Artificial intelligence is also a crucial component of manufacturing since it aids in analyzing patient symptoms and keeping tabs on other people with similar symptoms, so helping to prevent the formation of these fatal diseases at their earliest stages. One of the primary reasons for the expansion of the pharmaceutical contract manufacturing industry is the involvement of governments across the world in the healthcare sector to stimulate the discovery and innovation of new pharmaceuticals to battle the most powerful diseases.

More money will be put into research and development and cutting-edge manufacturing equipment for the pharmaceutical industry by the contract development and manufacturing organization (CDMO). Opportunities for the Pharmaceutical Contract Manufacturing Market are projected to persist, driven by factors such as the rising demand for biological therapies, the focus on speciality medications, the expansion of nuclear medicine, and the development of cell and gene therapy. The scientific community’s increasing interest in the pharmaceutical industry, where scientists and doctors are working to find and develop treatments for deadly diseases, has led to a dramatic expansion of the pharmaceutical contract manufacturing business in the recent decade. In addition to analyzing patient symptoms and keeping tabs on other people with similar symptoms, artificial intelligence is a key component of manufacturing in the fight against these devastating diseases. One of the primary drivers of the expansion of the pharmaceutical contract manufacturing market is the increasing participation of governments in the healthcare sector around the globe in order to encourage the discovery and invention of new treatments in the battle against highly potent diseases.

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Market Restraints

Companies are more open to limiting outsourcing for the production of sophisticated and large molecules. Due to the unique specifications, they favor producing in-house rather than contracting it out. Because of this, the market may face difficulties.

From what researchers observed, the year 2020 will go down in history as one of the most pivotal in all of humankind’s experience, thanks to the effects of COVID-19. Most countries’ economies slowed as a result of a decline in human capital, weakened companies, and closed states. By producing additional medicines to treat COVID symptoms and sanitizers to keep our surroundings clean, the pharmaceutical industries were the true warriors in the fight against the COVID-19 virus. Drug companies immediately began investigating the COVID-19 virus’s veracity and working to develop a vaccine against it. Although countries found ways around international prohibitions that prevented the export and import of healthcare products, such as pharmaceuticals. India has played a pivotal role in the development of vaccinations like co-vaccine, which are used to protect people all over the world. Pfizer’s COVAX vaccine is only one of many that travel the world to treat patients in need.

Pharmaceutical Contract Manufacturing Market Segmentation

By Type

When it comes to the delivery of medications, packaging is primarily concerned with the quantity or size of the drugs. Patients have access to medications in a variety of dosage forms, including injectable, liquid, and solid formulations.

The market for active pharmaceutical ingredients (APIs), which can be either relatively small or relatively large molecules depending on the severity of the condition they treat, is predicted to expand at a rate that is higher than average over the review period.

Pharmaceutical Contract Manufacturing Market Regional Analysis

The United States, as a developed country with access to substantial funding for healthcare, has been instrumental in establishing the pharmaceutical contract manufacturing industry. The United States is unrivaled in the field of drug discovery and development thanks in large part to the success of its Contract Development and Manufacturing Organizations (CDMOs), which have united businesses from both rural and urban areas under a single set of federal regulations.

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Over the past five years, the Asian Pharmaceutical Contract Manufacturing industry has grown by 30%, largely due to the increasing number of pharmaceutical businesses opening shop in countries like China, India, Japan, etc. The increasing trend of businesses in the region’s developing economies outsourcing certain types of work is a major contributor to this expansion. Because of their growing manufacturing capacities, nations like Singapore, China, and India have emerged as key players in the pharmaceutical sector in recent years. The captive character of the contract manufacturing sector might be attributed to the cash-rich nature of Asian firms. It is anticipated that the explosion of large investments by Asian CMOs would lead to meteoric growth.

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Healthcare systems in the United States and Europe have developed enormously in recent years, working in tandem with government regulations to achieve CDMO compliance. Due to government laws that do not allow export to particular regions of the world, a select number of European countries, like Russia and Italy, have been slow to adjust to new Pharma rules. Some of the most prominent companies in the Pharmaceutical Contract Manufacturing industry include Beijing Landscape, Bushu Pharmaceuticals, CMIC (Japan), Porton Fine Chemicals, Pfizer, Tianjin Pharmaceuticals, Recipharm, Catalent, and others.

Companies in Europe are competing with other regions to become global leaders in sustainable medication manufacture through close collaboration between public and private sectors. Since there is a dearth of both skilled labor and the necessary industrial know-how to replicate existing pharmaceuticals, Africa, like most other developing regions, occupies a relatively insignificant niche in the field of pharma contract manufacturing technology.

Discover more research Reports on Healthcare Industry, by Market Research Future:

Active Pharmaceutical Ingredients (API) Market Research Report: Information By Manufacturing Process (Captive Manufacturing and Contract Manufacturing), By Type of Synthesis (Synthetic and Biotech), By API Formulation (Generic API and Branded/Innovative API), By Application (Cardiovascular Disease, Oncology, Neurological Disorders, Orthopedic Disorders, Respiratory, Gastrointestinal Disorders, Urology, and others), By Molecules (Large Molecule and Small Molecule), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast to 2030

Cancer API Market Research Report: Tinib (Ponatinib, Brigatinib), Rafenib (Sorafenib, Regorafenib, Vemurafenib), Parib (Olaparib, Rucaparib, and Niraparib), Lisib (Idelalisib and Copanlisib), Degib (Sonidegib and Vismodegib) – Forecast Till 2030

High Potency APIs (HPAPI) Market Size, Growth and Trends Analysis By Product (Biotech, Synthetic), By Type (Novel, Innovative, Generic) and By Therapeutic Area (Oncology, Glaucoma, Hormonal) – Forecast to 2030

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

BeeHero Reveals Groundbreaking Data-Backed Insights from the Latest Almond Pollination Seasons

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On World Bee Day, BeeHero shares findings from the 2022-2024 almond pollination seasons that showcase its ability to optimize and boost pollination efficacy while decreasing operational costs, by empowering both beekeepers and growers with innovative, data-driven solutions
FRESNO, Calif., May 20, 2024 /PRNewswire/ — BeeHero, the pioneer of precision pollination, today unveiled groundbreaking data-driven bee activity insights from the 2022-2024 almond pollination seasons. The company has revealed bee flight hour and bee frame insights via its cutting-edge sensor technology and AI-powered analysis that contribute to improved pollination practices. In recent months, BeeHero cemented its position as the world’s leading provider of precision pollination as it surpassed the threshold of 300K hives under management, from which the company records more than 25 million hive samples daily. The new data is being released on World Bee Day, the date designated by the UN to raise awareness of the importance of these vital pollinators, the numerous threats they face, and how they contribute to sustainable agriculture and development.

Analysis of the previous almond seasons revealed that BeeHero-managed hives demonstrated a higher degree of effectiveness, with an average of nearly 50% more bee-frames per hive compared to the industry standard. This superior performance translates into stronger colonies and enables BeeHero to optimize hive placement and reduce the number of hives required per acre in almond orchards, resulting in enhanced pollination at a lower input-to-output ratio for growers.
BeeHero also discovered a significant difference in the average daily bee flight hours (BFH) measured by its sensors as compared to the traditional bee flight hour calculations. While conventional bee flight hour methods (based on industry standard hives) recorded a total of 2.7 daily BFH over the 2022 and 2023 almond pollination seasons, BeeHero was able to more accurately measure almost double this amount, at 5.9 daily BFH, demonstrating that bees will indeed fly in suboptimal conditions. This revelation underscores the higher accuracy of BeeHero’s methodology over traditional calculations, which underestimate the actual flying time of bees due to a reliance on and proximity to local national weather stations, affecting industry crop yield predictions. Both this finding and BeeHero’s ability to provide stronger hives have widespread implications for not only almonds, but other seed, row, and specialty crops as well.
“We are excited to be consistently achieving new, pivotal milestones on our mission to transform pollination efficiency through transparency and data-driven precision,” explained Omer Davidi, CEO and Co-Founder of BeeHero. “Our findings showcase the critical nature of robust data in optimizing pollination activities, and our unique ability to provide previously unknowable insights – and as a result, stronger hives and more accurate yield predictions – to industry stakeholders. We look forward to continuing to reshape industry paradigms, empowering growers and beekeepers to better foster bee welfare and bolstering productivity for greater profitability.”
During the 2024 almond pollination season, BeeHero utilized various proprietary tools to extract its unparalleled dataset on bee behavior and pollination efficacy. The company introduced a Deployment Planning Tool, enabling beekeepers to visualize their almond orchards and strategically plan daily tasks for maximum efficiency. Additionally, its Hive Tracker offered growers real-time insights into hive shipment and placement, while BeeHero’s new mobile growers platform provided growers with seamless access to hives’ frame counts and other critical information and updates.
Following the culmination of the pollination season, BeeHero is providing personalized precision pollination reports for growers with insights into bee flight hours, bee frames, and how BeeHero’s data and technology have directly impacted their season. In alignment with this mission, a recent study conducted by BeeHero and the USDA explored how bee colony strength and hive entrance orientation affected honey bee foraging behavior, offering actionable insights to improve pollination efficacy. The research underscores the pivotal role of BeeHero’s proprietary technology in gathering data to drive operational efficiency, reduce costs, increase yields, enhance bee welfare, and promote sustainable agriculture.
“The findings from these past pollination seasons – both in our research and in the field – highlight the profound potential of our innovative technology to revolutionize pollination practices, fostering a sustainable ecosystem that benefits both beekeepers and growers,” said Yuval Regev, CTO and Co-Founder of BeeHero. “By illuminating intricate bee behavior patterns and ecosystem dynamics, we are pioneering a new frontier in pollination science and technology.”
Earlier this month, BeeHero was recognized as an Honorable Mention by Fast Company’s 2024 World Changing Ideas Awards in the agriculture category. The award honors products and companies designed to make the world safer, cleaner, more sustainable, and more equitable. This is the latest in a slew of prestigious awards and recognitions for BeeHero, which include Cleantech Group’s 2024 Global Cleantech 100 list, the 2024 Founder’s Games for social impact, CNBC’s 2023 Disruptor 50 list, and The New York Times’ 2022 Good Tech Awards.
About BeeHero
BeeHero is a data-driven technology company redefining pollination in commercial agriculture. Using advanced data analytics, artificial intelligence, and low-cost IoT sensors, BeeHero brings transparency and efficiency to the complex logistics of commercial crop pollination. Its Precision Pollination as a Service (PPaaS) results in better crop yields and increased profits for commercial crop growers and agribusiness stakeholders. Its precision pollination solution is rapidly evolving into the backbone of the data-driven approach needed to build a resilient and future-proof sustainable agriculture ecosystem. The company is headquartered in Fresno, California, with offices in Palo Alto, California and R&D in Tel Aviv, Israel.
Media Contact
Allison GreyHeadline [email protected]  US: +1 323 283 8176UK: +44 203 807 4482IL: +972 53 820 2606

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Dubai World Trade Centre Drives Impact as Economic Output Surges to US$4.98 Billion in 2023, up 40% YoY

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DUBAI, UAE, May 20, 2024 /PRNewswire/ — Dubai World Trade Centre (DWTC), a global leader in the events and exhibitions industry, has once again demonstrated its significant impact on Dubai’s economy in 2023, welcoming 2.47 million participants and hosting 301 events, 76 of which, were large-scale events that attracted 1.54 million attendees, with 46% from overseas.

DWTC’s 2023 Economic Impact Assessment (EIA) Report, based on its 76 large-scale events (2000 or more attendees) revealed an impressive surge in the total economic output, reaching US$4.98 billion, marking an incredible 40% YoY increase, with high returns for adjacent industries such as Travel, Accommodation and Retail, connected to the Meetings Incentives Conferences and Exhibitions (MICE) ecosystem.
DWTC’s large-scale events generated a substantial US$2.87 billion Gross Value Added (GVA) to Dubai’s GDP, retaining an impressive 58% of the total economic output locally. International participation soared by 53%, with overseas visitors driving 6.2 times more contribution than domestic counterparts.
Events hosted at DWTC supported 69,281 jobs, generating US$915 million in disposable household income for the city’s residents. The substantial economic impact of these events extends beyond direct revenue generation, fostering socio-economic development and contributing to Dubai’s status as a leading global business hub.
His Excellency Helal Saeed Almarri, Director General of DWTC Authority, said: “Aligned with Dubai’s Economic Agenda D33, we continue to spearhead efforts in sector diversification, reinforcing the city’s stature as a leading global business hub. The remarkable accomplishments of 2023, presented in the ‘DWTC Economic Impact Assessment Report’ demonstrate that Dubai’s MICE sector, driven by DWTC, remains a vital pillar of financial resilience and growth underscoring our accelerated strides towards sustainable socio-economic development. The increase in international participation, along with the significant economic impact generated across diverse sectors such as travel, accommodation and retail, highlights the city’s steadfast commitment to propelling business tourism.”
The venue’s formidable events portfolio strategically aligned with Dubai’s economic priorities, showcasing Healthcare, Medical, and Scientific; Information Technology (IT); and Food, Hotel, and Catering as the top contributors. These leading sectors collectively accounted for 59% (US$1.71 billion) of the GVA to Dubai’s economy, and 49% (747,468) of the total large-scale event visitation.
Adjacent sectors, including hotels, air travel, and local transportation experienced a significant boost in economic activity. The direct revenue generated through expenditure was nearly US$2.94 billion.
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Aramco signs agreement with Pasqal to deploy first quantum computer in the Kingdom of Saudi Arabia

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DHAHRAN, Saudi Arabia, May 20, 2024 /PRNewswire/ — Aramco, one of the world’s leading integrated energy and chemicals companies, has signed an agreement with Pasqal, a global leader in neutral atom quantum computing, to install the first quantum computer in the Kingdom of Saudi Arabia.

The agreement will see Pasqal install, maintain, and operate a 200-qubit quantum computer, which is scheduled for deployment in the second half of 2025.
Ahmad Al-Khowaiter, Aramco EVP of Technology & Innovation, said: “Aramco is delighted to partner with Pasqal to bring cutting-edge, high-performance quantum computing capabilities to the Kingdom. In a rapidly evolving digital landscape, we believe it is crucial to seize opportunities presented by new, impactful technologies and we aim to pioneer the use of quantum computing in the energy sector. Our agreement with Pasqal allows us to harness the expertise of a leading player in this field, as we continue to build state-of-the-art solutions into our business. It is also further evidence of our contribution to the growth of the digital economy in Saudi Arabia.”
Georges-Olivier Reymond, Pasqal CEO & Co-founder, said: “The era of quantum computing is here. No longer confined to theory, it’s transitioning to real-world applications, empowering organisations to solve previously intractable problems at scale. Since launching Pasqal in 2019, we have directed our efforts towards concrete quantum computing algorithms immediately applicable to customer use cases. Through this agreement, we’ll be at the forefront of accelerating commercial adoption of this transformative technology in Saudi Arabia.  This isn’t just any quantum computer; it will be the most powerful tool deployed for industrial usages, unlocking a new era of innovation for businesses and society.”
The quantum computer will initially use an approach called “analog mode.” Within the following year, the system will be upgraded to a more advanced hybrid “analog-digital mode,” which is more powerful and able to solve even more complex problems.
Pasqal and Aramco intend to leverage the quantum computer to identify new use cases, and have an ambitious vision to establish a powerhouse for quantum research within Saudi Arabia. This would involve leading academic institutions with the aim of fostering breakthroughs in quantum algorithm development — a crucial step for unlocking the true potential of quantum computing.
The agreement also accelerates Pasqal’s activity in Saudi Arabia, having established an office in the Kingdom in 2023, and follows the signing of a Memorandum of Understanding between the companies in 2022 to collaborate on quantum computing capabilities and applications in the energy sector. In 2023, Aramco’s Wa’ed Ventures also participated in Pasqal’s Series B fundraising round.
About Aramco
Aramco is a global integrated energy and chemicals company. We are driven by our core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com 
About PASQAL
Pasqal is a leading Quantum Computing company that builds quantum processors from ordered neutral atoms in 2D and 3D arrays to bring a practical quantum advantage to its customers and address real-world problems. Pasqal was founded in 2019, out of the Institut d’Optique, by Georges-Olivier Reymond, Christophe Jurczak, Professor Dr. Alain Aspect – Nobel Prize Laureate Physics, 2022, Dr. Antoine Browaeys and Dr. Thierry Lahaye. Pasqal has secured more than €140 million in financing to date. To learn more about Pasqal, visit www.pasqal.com.
Disclaimer
The press release contains forward-looking statements. All statements other than statements relating to historical or current facts included in the press release are forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its capital expenditures and investments, major projects, upstream and downstream performance, including relative to peers. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “can have,” “likely,” “should,” “could,” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance, or achievements expressed or implied by such forward-looking statements, including the following factors: global supply, demand and price fluctuations of oil, gas and petrochemicals; global economic conditions; competition in the industries in which Saudi Aramco operates; climate change concerns, weather conditions and related impacts on the global demand for hydrocarbons and hydrocarbon-based products; risks related to Saudi Aramco’s ability to successfully meet its ESG targets, including its failure to fully meet its GHG emissions reduction targets by 2050; conditions affecting the transportation of products; operational risk and hazards common in the oil and gas, refining and petrochemicals industries; the cyclical nature of the oil and gas, refining and petrochemicals industries; political and social instability and unrest and actual or potential armed conflicts in the MENA region and other areas; natural disasters and public health pandemics or epidemics; the management of Saudi Aramco’s growth; the management of the Company’s subsidiaries, joint operations, joint ventures, associates and entities in which it holds a minority interest; Saudi Aramco’s exposure to inflation, interest rate risk and foreign exchange risk; risks related to operating in a regulated industry and changes to oil, gas, environmental or other regulations that impact the industries in which Saudi Aramco operates; legal proceedings, international trade matters, and other disputes or agreements; and other risks and uncertainties that could cause actual results to differ from the forward-looking statements in this press release, as set forth in the Company’s latest periodic reports filed with the Saudi Stock Exchange. For additional information on the potential risks and uncertainties that could cause actual results to differ from the results predicted please see the Company’s latest periodic reports filed with the Saudi Stock Exchange. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future. The information contained in the press release, including but not limited to forward-looking statements, applies only as of the date of this press release and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the press release, including any financial data or forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law or regulation. No person should construe the press release as financial, tax or investment advice. Undue reliance should not be placed on the forward-looking statements.
Aramco Contact Information:
  @aramco

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