Global Healthcare Contract Manufacturing Market to Witness a Whooping CAGR of 9.86% during 2018 To 2023 | Asserts MRFR.
The Global Healthcare Contract Manufacturing Market is profoundly stimulated by factors such as rising health-care costs, growing research and development costs of drugs, rising patent influx, and increasing need for drug and medical instruments. However, patent expiration is likely to bring down sales and affect the market.
According to MRFR, the period of 2016-2023 will witness sales loss of roughly USD 75 billion owing to patent expiration. Generics too pose a considerable threat to the healthcare contract manufacturing market. Generics will affect the drug sales of around USD 60 billion during the forecast period. Other constraints for the global healthcare contract manufacturing market include supply chain complications and issues related to control of third party.
Norman Noble Inc., a contract manufacturer of generation medical implants, has now added additive manufacturing, as a part of its capabilities. They are also trying to develop the production of additive manufactured parts from magnesium and nitinol……more.