September 20, 2016
Joint Venture Contract Services – A CDMO’S Approach To Being A True Partner
The active pharmaceutical ingredient (API) is the key functional component of a pharmaceutical formulation, rendering efficacy to the final drug product. Driven by the aging population, public and government demands for affordable drugs, reimbursement pressure and expansion of the emerging market, the pharmaceutical market is expanding rapidly. With this, the global market for APIs will rise steadily, meeting the increased need for medicines across the board. The market is expected to reach $198.8 billion by 2022, growing from $121.4 billion in 2014 at a compound annual growth rate (CAGR) of 6.4%.