Pharmaceutical Contract Manufacturing Market Procurement Intelligence Report | Evolving Opportunities with Pfizer and Boehringer Ingelheim International GmbH in the Pharmaceutical Contract Manufacturing Market | SpendEdge
LONDON--(BUSINESS WIRE)--Feb 7, 2020--
SpendEdge has been monitoring the global pharmaceutical contract manufacturing market and the market is poised to experience spend growth of more than USD 30 billion between 2019-2024 at a CAGR of more than 6% during the forecast period. Request Free Sample Pages.
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Read the 125-page research report with TOC and LOE on “The Global Pharmaceutical Contract Manufacturing Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, top service providers, supplier selection and negotiation strategies, and insights into best practices to optimize procurement spend.”
The increase in the onset of chronic diseases such as cancer, diabetes, dementia, and arthritis is creating the necessity for new technological advancements for the production of innovative APIs. This is contributing to the spend momentum in the pharmaceutical contract manufacturing market.
While the high healthcare expenditure is contributing to the market spend growth in North America, the outsourcing of drug manufacturing services from developed regions to LCCs is boosting the prospects of spend growth in the pharmaceutical contract manufacturing market in APAC, such as India, China, and Singapore.
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The Top Pharmaceutical Contract Manufacturing Service Providers Enlisted in this Report:
Warehousing of drugs is serving as a significant cost accelerator for service providers and is eschewing their profit margins. To compensate for this expense, service providers are expected to increase their service charges which will inflate buyers’ procurement expenditure in the pharmaceutical contract manufacturing services market. Considering its probability, this report has listed the top pharmaceutical contract manufacturing service providers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal and cost-effective procurement in this market. Insights into some of the service providers are given below:
Pfizer- It is essential that buyers establish a program to get the most of this service provider’s capabilities in terms of quality reliability and cost overruns and reduce instances of downtime. The program should define processes and approaches for standardization, metrics for benchmarking of performance and improve service provider’s performance. Concepts such as Lean, Six Sigma, and total production system approaches can be established for driving performance.
Boehringer Ingelheim International GmbH- Buyers are advised to adopt the project-based pricing model while finalizing a contract with this pharmaceutical contract manufacturing service provider. This pricing model encourages service providers to provide effective and efficient services, as the performance is associated with value-additions based on the customized requirement, thereby ensuring better ROIs for buyers.
Lonza Group- Prices of raw materials required in the manufacturing of drugs are volatile. Thus, an increase in the prices of chemicals results in the rise in the cost of drugs manufactured. During such instances, buyers have to pay more to service providers. To address such situations, buyers are advised to collaborate with this service provider on a price risk-sharing basis to avoid such price increase, which in turn helps them to mitigate risks associated with the price increase of the drugs.
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INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
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PUB: 02/07/2020 07:30 AM/DISC: 02/07/2020 07:30 AM