Westford USA, March 01, 2023 (GLOBE NEWSWIRE) -- In recent years, the North American region has emerged as a promising hub for the contract development and manufacturing organization (CDMO) outsourcing market. This growth is largely driven by the pharmaceutical industry's complex manufacturing requirements, increasing investments in pharmaceutical R&D, and the industry's inclination towards cutting-edge technologies. In addition, the expiration of patents and the impact of the coronavirus pandemic have also contributed to this growing trend. Furthermore, the increasing demand for cell and gene therapies and personalized medicines has further boosted market growth. The market is predicted to continue its upward trajectory due to the increasing number of strategic mergers and collaborations between CDMO and pharmaceutical companies.
The global pharmaceuticals market is anticipated to grow significantly in the coming years, with a predicted value of USD 14068.6 Billion by 2028, according to SkyQuest. This expected growth is attributed to various factors, such as increasing demand for innovative therapies, rising prevalence of chronic diseases, and expanding geriatric population. As a result, the pharmaceutical industry will likely witness a surge in demand for contract development and manufacturing organization (CDMO) outsourcing.
Browse in-depth T.O.C. on "Contract Development and Manufacturing Organization (CDMO) Outsourcing Market"
- Pages - 283
- Tables - 35
- Figures - 63
A contract development and manufacturing organization, commonly referred to as CDMO, is a company that specializes in offering a wide range of services related to drug product development, manufacturing, and packaging. Pharmaceutical companies can outsource their product development, manufacturing, and packaging needs to CDMOs, allowing them to focus on their core competencies while the CDMOs take care of the rest. In addition to cost savings, outsourcing to a CDMO provides greater flexibility to pharmaceutical companies.
Prominent Players in Contract Development and Manufacturing Organization (CDMO) Outsourcing Market
- Catalent, Inc. (US)
- Vetter (Germany)
- CSI Medical Research (Singapore)
- Baxter (US)
- Siegfried Holding (Switzerland)
- Apollo 5 GmbH (Germany)
- Albany Molecular Research Inc. (AMRI) (US)
- Esco Aster (Singapore)
- Recipharm AB (Sweden)
- Unither (US)
- Thermo Fisher Scientific Inc. (Patheon) (US)
- NextPharma Technologies (US)
- DPT LABORATORIES LTD. (US)
Get a sample copy of this report:
Pharmaceutical Manufacturing Services Segment to Grow Swiftly to Capture Largest Revenue Share
According to SkyQuest, the pharmaceutical manufacturing services sector has emerged as the leading segment in the contract development and manufacturing organization (CDMO) outsourcing market, with projections of continued growth from 2022 to 2028. The increasing need for pharmaceutical companies to reduce manufacturing costs due to the significant upfront investments required for drug development is a primary driver of this trend. In addition, the use of advanced technologies, specialized skills in manufacturing, and the growing demand for high-quality bulk manufacturing and generic drugs are also contributing factors.
The North American contract development and manufacturing organization (CDMO) outsourcing market is a well-established and significant player in the global pharmaceutical industry. This is partly due to the region's long-standing history of CDMO presence and expertise. North America is estimated to have around 300 pharmaceutical contract development and manufacturing companies (CDMOs), making it a highly competitive market. These companies offer various services, from early-stage drug development to commercial manufacturing of finished dosage forms.
Browse summary of the report and Complete Table of Contents (ToC):
https://skyquestt.com/report/contract-development-and-manufacturing-organization-outsourcing-market
Injectable Manufacturing Services Sub-segment to Experience Remarkable Growth owing to Rising Trend of Outsourcing Pharmaceutical Manufacturing Services
The contract development and manufacturing organization (CDMO) outsourcing market on the global stage has witnessed a surge in demand for the injectable manufacturing services segment in 2021. This sub-segment has recorded the highest growth rate owing to the rising number of emerging pharmaceutical companies engaging in late-stage product development and requiring support from CDMOs. Additionally, the increasing complexities involved in parenteral/injectable manufacturing have contributed to the growth of this segment. With the rising number of emerging pharmaceutical companies, the demand for CDMOs is expected to grow.
The Asia Pacific is projected to exhibit significant growth in the contract development and manufacturing organization (CDMO) outsourcing market by 2028 due to several factors. Firstly, the region's cheap manufacturing and research and development costs make it an attractive location for companies looking to establish a presence there. The Asia Pacific region also has a highly qualified workforce, which adds to its appeal. In addition, one major growth driver in the Asia Pacific market is the rising incidence of chronic and lifestyle diseases, such as diabetes and heart disease. With an increasing number of people developing these conditions in the region, there is a growing demand for healthcare products and services.
SkyQuest, a leading research firm, has recently released a comprehensive report on the contract development and manufacturing organization (CDMO) outsourcing market, providing a detailed industry analysis. The report is a valuable resource for stakeholders, including pharmaceutical and biotechnology companies, investors, and policymakers, looking to understand the CDMO outsourcing market comprehensively.
Speak to Analyst for your custom requirements:
Key Developments in Contract Development and Manufacturing Organization (CDMO) Outsourcing Market
- Theragent, a recently established cell therapy contract development and manufacturing organization (CDMO) in the United States, has been chosen by French late-stage clinical-trial company CellVax Therapeutics to provide manufacturing and testing services for its novel cancer immunotherapy candidate, FK-PC101. This promising candidate is currently entering Phase II clinical trials. Overall, this partnership between Theragent and CellVax Therapeutics represents an exciting opportunity to advance the field of cancer immunotherapy and bring new, innovative treatments to patients in need.
- Charles River Laboratories, a leading global provider of essential research products and services, has announced a new partnership with Rznomics, a South Korean biopharmaceutical company specializing in RNA-based gene therapeutics. Under this collaboration, Charles River will provide Rznomics with viral vector contract development and manufacturing organization (CDMO) services to support the development of its RNA-based anticancer gene therapy in liver cancer patients. The partnership between Charles River and Rznomics represents a significant step forward in developing RNA-based gene therapies for treating cancer and other diseases.
- Aurisco, a leading pharmaceutical company and contract development and manufacturing organization (CDMO) in China, has partnered with Cytiva, a global life sciences company, to establish its first Oligo FlexFactory platform for commercial production. The partnership aims to leverage Cytiva's extensive expertise in bioprocessing and bio-manufacturing technology to establish a cutting-edge manufacturing facility for Aurisco's oligonucleotide production. With this new collaboration, Aurisco is poised to expand its capabilities and capacity for oligonucleotide production, catering to the growing demand in the global market.
Key Questions Answered in Contract Development and Manufacturing Organization (CDMO) Outsourcing Market Report
- What are the most notable recent market factors and trends significantly impacting the industry?
- What are the potential risks and challenges associated with emerging growth opportunities in the market, and how can companies mitigate these risks to achieve success?
- Which market segment, sub-segment, or region are the most promising growth opportunities expected to arise during the forecast period?
- How are market players employing strategies to maintain a competitive edge over their competitors regarding product development and innovation?
Related Reports in SkyQuest’s Library:
Global Healthcare Data Interchange (EDI) Market
Global Next-Generation Sequencing Services Market
Global Smart Pills Technology Market
Global Cancer Immunotherapy Market
About Us:
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
Address:
1 Apache Way, Westford, Massachusetts 01886
Phone:
USA (+1) 617-230-0741
Email: sales@skyquestt.com
