Small Molecule Innovator CDMO Market Revenue, Growth Opportunities and Dynamic Business by 2031
The global small molecule innovator CDMO market is anticipated to expand at a promising rate from 2021 to 2031 (forecast period). Small molecules are still crucial in the development of novel medicines all around the world. Small molecule applications account for more than half of specialty sales, which is propelling the global pharmaceutical business, particularly in developed countries.
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Moreover, growing pharmaceutical R&D expenditure, rising demand, and the growing prevalence of cancer and age-related illnesses are the primary factors likely to drive the global small molecule innovator CDMO market during the forecast period.
Small Molecule Innovator CDMO Market - Competitive Landscape
Leading players in the small molecule innovator CDMO market are Siegfried holdings AG, Lonza Group Ltd., Patheon, Piramal Pharma Solutions, Catalent Inc., Wuxi AppTec, Recipharm AB, Cambrex Corporation, Corden Pharma International, Boehringer Ingelheim, Covance Inc., and Thermo Fisher Pantheon.
These players are adopting a variety of strategic initiatives in order to obtain a competitive edge over their competitors. Acquisitions, regional expansions, product launches, and mergers and acquisitions are all important factors influencing market competition. Corden Pharma, for example, stated in October 2020 that its Boulder, Colorado plant had completed the creation of a new, competent API laboratory. Customers can now access the new laboratory, which is capable of handling potent compounds with an OEL as low as 1 ng/m3.
Small Molecule Innovator CDMO Market - Trends and Opportunities
The global small molecule innovator CDMO market is expected to grow due to a surge in cancer cases and an increase in the need for effective oncology diagnostics, and R&D. Cancer is the top cause of mortality worldwide, per the WHO, with an anticipated 10 million deaths in 2020. Prostate, colorectal, lung, liver, and stomach cancers affect males, whereas breast, lung, colorectal, thyroid, and cervical cancers affect women.
The COVID-19 pandemic had a substantial influence on the world economy in 2020, and it continues to have an impact on numerous businesses. However, the global small molecule innovator CDMO market benefited from the pandemic. During this crisis, CDMOs are playing an essential role in satisfying the demands of biotech businesses, pharmaceutical corporations, and other end users.
Market players provide cost-effectiveness, time savings, and specialized knowledge to pharma, biotech, and other end-user industries. Overall, the outbreak has bolstered market growth. With pharma firms' increasing need for outsourcing, CDMOs are concentrating more on continual bioprocessing and process intensification.
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Small Molecule Innovator CDMO Market - Regional Landscape
The Asia Pacific small molecule innovator CDMO market is anticipated to expand during the forecast period. The much lower manufacturing costs than in North America and Europe and favorable legislation are likely to drive regional market expansion. China is expected to be the largest revenue generator in small molecule innovator CDMO market in Asia Pacific.
Moreover, one of the important reasons projected to boost the regional market growth is an increased regulatory emphasis on quality control in manufacturing. The Ministry of Food and Drug Safety (MFDS) in South Korea, the Pharmaceuticals and Medical Devices Agency (PMDA) in Japan, and the Singapore Health Sciences Authority (HSA) in Singapore are among the regulatory agencies in Asia Pacific.
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The small molecule innovator CDMO market in North America is projected to experience growth due to the presence of numerous well-known biotechnology, pharmaceutical, and medical device firms.
Moreover, the United States is likely to be the fastest growing market for small molecule innovator CDMO during the forecast period. Rising R&D investments by life sciences and pharmaceutical firms are expected to boost demand for contract manufacturing in the region. Furthermore, stringent rules on product development, production, and quality control are expected to increase demand for domestic contract manufacturing services.
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