Contract manufacturing outsourcing from western pharmaceutical manufacturers, once assigned only to European countries, is now heading to countries such as India, Korea, and China. Not surprisingly, lower manufacturing and labor costs are behind the movement eastward, according to Research and Markets' report, "The Future of Contract Manufacturing—Market Forecasts to 2015 and Key Trends."
The report says, "The major factor driving this market is the increase in the sourcing of biologics and generic manufacturing. The market revenues are forecast to reach approximate value of $44 billion by 2015." That would represent an 11% Compound Annual Growth Rate.
Contract manufacturing and packaging continue to offer an option in the U.S. as well.
The report says, "The major factor driving this market is the increase in the sourcing of biologics and generic manufacturing. The market revenues are forecast to reach approximate value of $44 billion by 2015." That would represent an 11% Compound Annual Growth Rate.
Contract manufacturing and packaging continue to offer an option in the U.S. as well.
![Alison Bryant, senior consultant at Antea Group and communications director for the Healthcare Plastics Recycling Council (HPRC), addressed the crowd at the[PACK]out.](https://img.healthcarepackaging.com/files/base/pmmi/all/image/2024/05/Alison_Bryant.6644005a513b0.png?auto=format%2Ccompress&fit=crop&h=167&q=70&w=250)
