Covina, April 20, 2023 (GLOBE NEWSWIRE) -- CMOs (Contract Manufacturing Organizations), is a well-known organization in which company hires other company for producing components and ultimate goods to save money and time. CMOs build up trust and sustainability and provides assurance of growth at their own risks for clients by offering them end to end services from starting to end.
Growth in outsourcing of manufacturing products and rising prevalence of diseases such as cancer disease, chronic disease & infectious diseases has given rise in demand for medical devices and drug development which in turn, is expected to increase the demand for Healthcare CMO Market in coming years.
The report “Healthcare CMO Market, By Service (Medical Device Contract Manufacturing Services, Pharmaceutical Manufacturing Services), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”
Key Highlights:
- In November 2021, Gerresheimer announced the strategic partnership with Midas Pharma to offer leading and innovative medical devices with growing focus on IP products and to strengthen portfolio of medical devices with pharmaceutical packaging of cartridge based auto-injector.
- In November 2022, Medeologix acquired three premier medical device (CDMO) companies, MedenBio, Mediballoon and Second Source Medical to establish mass production facility of medical tubing extrusion, catheter processing, balloon forming and packaging in Taiwan.
Analyst View:
New partnerships with pharmaceutical and biotechnology companies have enabled CMOs players to fuel the rapid growth of capabilities and capacities by helping industries succeed in medical devices, drug and vaccine production. Emerging pharmaceutical companies and startup firms are benefitted by CMOs because CMOs enable them to advertise their product without any investment in managing a factory. Further, government initiative in drug investment, growing usage of generic drugs and huge spending on research and development activities is expected to foster the demand for Healthcare CMO Market in coming years.
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Scope of the Report:
- Healthcare CMO Market, By Service
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Medical Device Contract Manufacturing Services
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Pharmaceutical Manufacturing Services
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
Regional scope:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- South Korea
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
Key Market Insights from the report:
Healthcare CMO Market accounted for US$ 378.6 million in 2022 and is estimated to be US$ 1881.2 million by 2032 and is anticipated to register a CAGR of 16.4%. The Healthcare CMO Market is segmented based on Component, Deployment Service and Region.
- Based on Service, Healthcare CMO Market is segmented into Medical Device Contract Manufacturing Services, Pharmaceutical Manufacturing Services.
- By Region, the Healthcare CMO Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Competitive Landscape & their strategies of Healthcare CMO Market:
- The Catalent Inc
- Lonza Group
- Boerhinger Ingelheim GmbH
- Patheon Inc.
- Accellent Inc.
- Emergent Biosolutions Inc.
- Greatbatch Inc.
- Piramal Healthcare
- Symbiosis Pharmaceutical Services
- Cytovance Biologics
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