NEWARK, Del, June 27, 2024 (GLOBE NEWSWIRE) -- As per Future Market Insights (FMI) latest industry analysis, the global Sterile Injectable CDMO Market was valued at around USD 10.1 billion in 2023 and is anticipated to exhibit a CAGR of 11.7% over the forecast period. The market value is projected to increase from USD 11.1 billion in 2024 to USD 33.7 billion by 2034.
The sterile injectable CDMO market is shifting towards an end-to-end business model, offering comprehensive services from API development to finished drug product manufacturing. This shift is driven by the high demand for accelerated development timelines and speed to market, especially in the biologics sector.
Leading CDMOs are escalating their integrated capabilities to provide seamless solutions, offering high cost flexibility and mitigating supply chain risks. The industry is also embracing standardized modularization to improve manufacturing efficiency and flexibility.
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Increasing number of biologics in the pipeline and the trend of outsourcing are set to fuel growth in the market. Biopharmaceutical companies are expected to dominate the industry due to the rise in end-to-end outsourcing services, especially among small and mid-sized pharmaceutical companies lacking bulk capacity manufacturing expertise.
Key Takeaways from the Sterile Injectable CDMO Market Study
- By manufacturing, the commercial manufacturing segment set to hold a lucrative share value of 57.2% in 2024.
- By services, the stand-alone segment is projected to hold the highest share of 61.1% in in terms of value in 2024.
- By drug type, monoclonal antibodies held a lucrative value share of 23.5% in 2023.
- By end-user, the pharmaceutical companies segment held a lucrative value share of 39.1% in 2023.
- North America is considered the leading region with a value share of 36.0% in 2023.
“The IV mode of application is gaining traction due to its rapid and precise treatment in emergency and hospital settings. Its growing demand for usage in intravenous drugs in chronic conditions is also pushing sales. Pharmaceutical companies are relying on large-scale production and reliable supply chain management partners to gain a competitive edge in the industry,” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Sterile Injectable CDMO Market Competition
Key sterile injectable contract manufacturing companies are implementing strategic initiatives like mergers and partnerships while escalating production capacity to enhance industry positioning. Abbvie, Famar, Polfa Tarchomin, Pfizer, Quotient Sciences, Temad Co., Tianjin Hankang Pharmaceutical Biotechnology, and Fareva are the leading manufacturers in the sector.
For instance,
- In July 2023, Evonik and Heraeus Precious Metals collaborated to broaden their range of services for highly potent active pharmaceutical ingredients (HPAPIs).
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Leading Sterile Injectable CDMO Brands
- Abbvie
- Famar
- Polfa Tarchomin
- Pfizer
- Quotient Sciences
- Temad Co.
- Tianjin Hankang Pharmaceutical Biotechnology
- Fareva
- Sharp
- Astral SteriTech
- Evonik
- Aurigene Pharmaceutical Services
- Prague Scientific
- Ethypharm
- TriRx Pharmaceutical Services
- Biophrama Group
- Gensenta Pharmaceuticals
- BioTechnique
- Mithra CDMO
- S.C. Rompharm Company SRL
- Flagship Biotech International Pvt. Ltd
- Curida AS
- BirgiMefar Group
- Brooks Laboratories Limited
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Future Market Insights (FMI) brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. The global sterile injectable CDMO market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights into sterile injectable CDMO market segment based on manufacturing (preclinical manufacturing, clinical manufacturing and commercial manufacturing) services (stand-alone services [drug formulation and development, aseptic fillings, analytical development, regulatory support, packaging and assembly services, technology transfer, supply chain management, quality control and assurance], integrated services) drug type (monoclonal antibodies [mAbs], cytokines, insulin, peptide hormones, vaccines, immunoglobulins, blood factors, peptide antibiotics, others) organization site (small, mid-sized, large and very large) end user (pharmaceutical companies, biopharmaceutical companies, research institutes and others) across regions.
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Authored by
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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