Contractors Increasing Research in Finished Drugs for COVID-19
Drug ingredient trade shows, such as the CPhl Worldwide, have been experiencing a monotony in product offerings. This monotony is broken with the onset of the COVID-19 (coronavirus) pandemic. Companies in the biotech API manufacturing services market have been given the best of the opportunities in the worst of the times. The unprecedented demand & supply and delays & cancellations of clinical trials for drugs continue to challenge biotech companies. The cessation of manufacturing site visits and growing regulatory audits are creating supply chain issues.
In order to overcome these challenges, companies in the biotech API manufacturing services market are focusing on vaccine development and COVID-19 therapies to gain competitive edge. This will help in new product developments in the stagnant pharmaceutical drug ingredients sector. As such, contractors offering API services and production of finished drugs are at an advantage.
Government-funded Schemes Keep Economies Running during COVID-19 Pandemic
The biotech API manufacturing services market is one of the most sought-after industry, as a solution to the current COVID-19 pandemic. Pharma companies are increasing efforts to fortify healthcare systems and using serosurveillance to gauge the spread of the infection. However, drug development activities are being challenged with technological, operational, and workforce concerns. This has triggered the need for strategic maneuvering from the apex.
Companies in the biotech API manufacturing services market are increasing their R&D capabilities to innovate in highly effective treatments for COVID-19. However, economic downturns, workforce shortage, and supply chain disruptions are acting as hurdles in drug development. Hence, companies are relying on government-funded schemes and clinical trials for potential drugs and vaccines to keep economies running during the pandemic.
India Generic API Merchant Industry Creates Lucrative Revenue Opportunities
Even as North America is considered as one of the top healthcare providers worldwide, API manufacturing is a billion-dollar industry in India. The country’s pharmaceutical industry is expanding at a high CAGR, and exports are gaining the attention of companies in the biotech API manufacturing services market. Low-cost skilled manpower and innovative R&D are making India one of the top pharmaceutical markets in the world. Companies in the biotech API manufacturing services market are capitalizing on incremental opportunities in India, owing to the increased domestic and in-house consumption.
China is emerging as a main competitor for India’s pharmaceutical industry, owing to the former’s dense population. Innovations in branded, generic, and unbranded drugs are contributing to the growth of the market. Manufacturers are increasing their production capabilities in recombinant proteins, vaccines, and monoclonal antibodies. The India generic API merchant sector is expected to pose as a stiff competition to Italy’s healthcare industry.
Expansion of Production Capacities Boosts Innovations
The expansion of output capacities is a fast growing phenomenon in the biotech API manufacturing services market. For instance, Ajinomoto Bio-Pharma Services has announced the expansion of its small molecule manufacturing facility in Visakhapatnam, India. Dedicated manufacturing equipment are being used by manufacturers to increase production capacities pertaining to high potency ingredients. Renovations of existing laboratories are bolstering the credibility credentials of manufacturers in the biotech API manufacturing services market.
GMP (Good Manufacturing Practice) operating standards and quality systems are helping manufacturers gain global recognition. Sustainability and quality standards are being adhered by manufacturers. Companies are increasing efforts to achieve low cost and high quality small molecule manufacturing. They are taking steps to gain recognition as quality-driven CDMO (Contract Development and Manufacturing Organization).
Adherence to CDER Standards Helps in Production of High-quality Drugs
Companies in the biotech API manufacturing services market are acquiring agency perspective from the Center for Drug Evaluation and Research (CDER) to gain a competitive edge over other market players. CDER’s 2-decades old Pharmaceutical Quality initiative is still an important reference point for manufacturers to achieve flexible and agile manufacturing, which help in the production of reliable and high quality drugs. Such initiatives are playing a key role in production activities of manufacturers in the biotech API manufacturing services market, as they minimize the interference of extensive regulatory oversight.
Moreover, advanced manufacturing strategies have seen a transition from the laboratory feasibility stage to actual commercial applications. Innovative technologies are in the pipeline for CDMOs, and their proposals are being sent to the CDER Emerging Technologies Team for further evaluation. New standards in manufacturing techniques are being included in the existing regulatory structures.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.