2017 has been an eventful year in the world of pharma, with new track and trace regulations driving investment and opening up new possibilities in the pharmaceutical supply chain, while consolidation continues to shape the outsourcing sector.
Overall, it has been a positive year for the outsourcing sector. The outsourcing trend continues to grow, with the world market for contract manufacturing expected to reach $79.24 billion in 2019, rising from $54.54 billion in 2013. Contract manufacturing has become a strategic part of most companies’ supply chains, driven by a number of factors including the need to access external expertise and technologies, as well as the financial pressures that the pharmaceutical industry has come under, creating a need to drive down internal investment and costs.
For more insight into the industry opportunities, challenges and trends of 2017, read the views of Mark Quick, Recipharm’s executive vice president of corporate development in European Pharmaceutical Manufacturer. The trends are explored further in ‘Outsourcing: A Year in Review’ in Pharmaceutical Technology.