Hyderabad, July 10, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Global Contract Development & Manufacturing Organization (CDMO) Market Report (2023-2028),” the market is estimated at USD 308.46 billion in 2023. It is expected to register a CAGR of 0.7% during the forecast period.
Advanced manufacturing techniques and processes are projected to help the CDMO market grow. CDMOs are expected to improve the efficiency of manufacturing processes, minimize waste, and lower costs, owing to new operational strategies, such as continuous manufacturing. The growth of small and mid-sized pharmaceutical firms, which are in charge of an expanding portion of new drug approvals and frequently lack manufacturing capacity, is anticipated to be a driving force behind CDMOs adopting new manufacturing technologies.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 308.46 billion |
| Market Size (2028) | USD 309.5 billion |
| CAGR (2023-2028) | 0.7% |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Study Period | 2018-2028 |
| Forecast Units | USD billion |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increasing work-for-home opportunities. |
| Expanding internet consumption. |
Who are the Top Companies in the Contract Development & Manufacturing Organization (CDMO) Market?
The CDMO market is fragmented. The existence of abundant competitors in the market has an impact on service pricing, making it a direct source of CDMO market rivalry, chiefly for small-scale providers. To gain a competitive edge, vendors in the market are projected to concentrate on offering one-stop-shop services.
The noteworthy players holding the majority CDMO market share in 2023 are:
- Catalent Inc.
- Recipharm AB
- Jubilant Pharmova Ltd
- Patheon Inc. (Thermo Fisher Scientific Inc.)
- Boehringer Ingelheim Group
- Pfizer CentreSource
- Aenova Holding GmbH
- Famar SA
- Baxter Biopharma Solutions (Baxter International Inc.)
- Lonza Group
- Tesa Labtec GmbH (TESA SE)
- Tapemark
- ARX LLC
- CMIC Holdings Co. Ltd
- LabCorp Drug Development
- Syneos Health Inc.
- LSK Global Pharma Service Co. Ltd
- Novotech Pty Ltd
- PAREXEL International Corporation
- Pharmaceutical Product Development LLC (Thermo Fisher Scientific Inc.)
- PRA Health Sciences Inc. (Icon PLC)
- Quanticate Ltd
- IQVIA Holdings Inc.
- SGS Life Science Services SA
- Hangzhou Tigermed Consulting Co. Ltd
- Samsung Bioepis Co. Ltd
- WuXi AppTec Inc.
- Sagimet Biosciences (3V Biosciences Inc.)
Other Reports That Might Be of Your Interest:
- Pharmaceutical Contract Manufacturing Organization (CMO) Market Report - The pharmaceutical contract manufacturing organization (CMO) market size is estimated at USD 161.37 billion in 2023. It is expected to reach USD 210.50 billion by 2028 at a CAGR of 5.46% during the forecast period (2023-2028).
- Asia-Pacific Pharmaceutical Contract Manufacturing Market Report - The Asia-Pacific pharmaceutical contract manufacturing organization (CMO) market size is expected to grow from USD 50.72 billion in 2023 to USD 77.11 billion by 2028, at a CAGR of 8.74% during the forecast period (2023-2028).
Key Highlights from the Contract Development & Manufacturing Organization (CDMO) Market Report:
Increasing R&D Investments to Help the Market Grow
- As per EY’s July 2022 survey, the number of CDMOs multiplied over the past decade, with mergers and acquisitions (M&A) and consolidations being the primary growth drivers. EY’s research team analyzed market deals and reviewed 92 publicly disclosed internal investments from 15 selected global CDMO companies to provide a consolidated view of the CDMO's M&A landscape.
- According to the same survey, the well-positioned CDMO compliantly changed its production line to meet the strengthening demand for smaller and more diverse projects. New partnerships enabled CDMO players to additional rapid growth in capacity, aiding the industry to thrive.
Asia-Pacific Expected to be the Fastest-growing Region.
- Asia-Pacific is estimated to witness the topmost growth in the market over the forecast period. Additionally, growing incidences of chronic and lifestyle diseases, along with ease of patient enlistment and convenience of expertise for clinical trials, are key driving factors boosting growth in the region.
- For instance, China has more than 180 million elderly citizens suffering from chronic diseases. Likewise, by 2030, cardiovascular disease will charge up to USD 1,044 billion to the Chinese government. Comparable trends for the high prevalence of diabetes are present around Asia-Pacific geographies, viz., China, South Korea, and Australia.
What are the Latest Developments in the Contract Development & Manufacturing Organization (CDMO) Market?
- In February 2023, Catalent completed a USD 2.2 million expansion to its clinical supply facility in Singapore. The facility is now better supplied to handle biopharmaceuticals and enhanced modalities, such as mRNA-based vaccines, cell and gene therapies, and substantial packaging campaigns.
- In December 2022, Thermo Fisher Scientific instituted its facility in Hangzhou, China. The manufacturing facility will cater to Chinese and international requirements for manufacturing and researching biologics and sterile in the Asia-Pacific region.
Mordor Intelligence has Segmented the Contract Development & Manufacturing Organization (CDMO) Market Based on Service Type CMO Segment, Research Phase CRO Segment, and Geography:
- By Service Type CMO Segment
- Active Pharmaceutical Ingredient (API) Manufacturing
- Small Molecule
- Large Molecule
- High Potency (HPAPI)
- Finished Dosage Formulation (FDF) Development and Manufacturing
- Solid Dose Formulation
- Tablets
- Others (Capsules, Powders, etc.)
- Liquid Dose Formulation
- Injectable Dose Formulation
- Secondary Packaging
- By Research Phase CRO Segment
- Pre-clinical
- Phase I
- Phase II
- Phase III
- Phase IV
- By Geography
- North America
- United States
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Contract Development & Manufacturing Organization (CDMO) Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- India CMO Market Report - The Indian CMO market size is expected to grow from USD 19.63 billion in 2023 to USD 38.92 billion by 2028 at a CAGR of 14.67% during the forecast period (2023-2028).
- Europe Pharmaceutical Contract Manufacturing Market Report - The European pharmaceutical contract manufacturing market is expected to grow at a CAGR of 5.71% in the forecast period.
- Cloud Security Market in Manufacturing Report - The cloud security market in manufacturing is expected to register a CAGR of 19.08% over the forecast period.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
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