Pharmaceutical Contract Development and Manufacturing Organization (CDMO) - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Pharmaceutical Contract Development and Manufacturing Organization (CDMO) Market is accounted for $148.50 billion in 2019 and is expected to reach $298.07 billion by 2027 growing at a CAGR of 9.1% during the forecast period. Some of the key factors propelling the market growth include growing demand for generic medicines and biologics, growing need for state-of-the-art processes and production technologies, advent of contract development & manufacturing organization (CDMO) model, and growing investment in R&D. However, stringent government regulations are likely to hamper the market.
The contract development and manufacturing organization (CDMO) industry had begun decades ago as a niche business by offering specialty services and manufacturing capacities to pharmaceutical companies. CDMOs also play a critical role in offering additional capacities and mitigate the risk of supply shortages by providing additional manufacturing and development sites and backup facilities. Issues regarding documentation and quality of drug manufacturing process during regulatory reviews can lead to delay in marketing authorization. Therefore for pharmaceutical companies, a prompt quality standard with proven reliability is a definitive key for outsourcing to CDMOs.
By service type, pharmaceutical manufacturing services segment is projected to grow at the lucrative rate during the forecast period, due to the growing need to reduce manufacturing cost, the requirement for high-quality bulk manufacturing, growing demand for generic drugs, high cost of operations, and lack of in-house manufacturing capacity.
On the basis of geography, Asia-Pacific is expected to witness the significant market growth during the forecast period, owing to the low cost offered by the region, as compared to the United States and other developed economies. Additionally, growing incidences of chronic and lifestyle diseases, such as diabetes and heart disease, coupled with ease of patient recruitment and availability of expertise for clinical trials, are few driving factors boosting growth in the region. With the increasing privatization of clinical trials, there has been an increase in the outsourcing of research processes in developing regions like China and India.
Some of the key players in Pharmaceutical Contract Development And Manufacturing Organization (CDMO) Market include Famar SA, Boehringer Ingelheim Group, Catalent Inc., Pfizer CentreSource, CMIC Holdings Co. Ltd, Aenova Holding GmbH, Baxter Biopharma Solutions, Syneos Health Inc., Lonza Group , Patheon Inc., Novotech Pty Ltd, Covance Inc., Recipharm AB , SGS SA (SGS Life Sciences), Jubilant Life Sciences Ltd, Samsung Bioepis Co. Ltd, IQVIA Holdings Inc., Quanticate Ltd, PAREXEL International Corporation, and WuXi AppTec Inc.
Research Phases Covered:
• Phase I
• Phase II
• Phase III
• Phase IV
Service Types Covered:
• Pharmaceutical Manufacturing Services
• Biologics Manufacturing Services
• Drug Development Services
End Users Covered:
• Small & Mid-size Pharma
• Big Pharma
• Generic Pharmaceutical Companies
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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