Over the last few years, manufacturing of specialty active pharmaceutical ingredients in contract manufacturing organizations (CMOs) is increasing at a rapid pace. In order to reduce operational costs, pharmaceutical companies in the health care industry are utilizing CMO services to develop active pharmaceutical ingredients. Thus, companies are developing finished pharmaceutical products (FPP) such as tablets, capsules and syrups etc. In order to meet customer needs, specialty active pharmaceutical ingredient manufacturers are entering into various manufacturing agreements with pharmaceutical companies. Moreover, agreements between specialty pharmaceutical ingredient manufactures for production of specialty active pharmaceutical ingredients is also expected to fuel market growth in terms of revenue over the forecast period. Furthermore, CMOs are providing robust manufacturing facilities with GMP and EU certificates to develop specialty active pharmaceutical ingredients. Furthermore, large market players in the pharmaceutical industry are currently following a backward integration strategy to manufacture active pharmaceutical ingredients to generate more revenue.

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