Press release
CDMO Market Size, Share, Growth, Revenue, Forecast, Analysis | Valuates Reports
Due to the COVID-19 pandemic and Russia-Ukraine War Influence, the global market for Contract Development and Manufacturing Organization (CDMO) Outsourcing estimated at US$ 90040 million in the year 2022, is projected to reach a revised size of US$ 159510 million by 2028, growing at a CAGR of 10.0% during the forecast period 2022-2028.
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Trends Influencing the Global CDMO Market
The growing number of pharma drugs for countering the rapid rise of diseases
Due to the booming population growth, chronic diseases, and growing geriatric population requiring medication, there is a need for pharma companies to outsource their services. This is due to the fact that they suffer from issues related to logistics, manufacturing, scalability, and capacity constraints. Drugs need faster regulatory compliance and timely delivery to patients. CDMOs alleviate the problems faced by biotech companies. These factors will spur the growth of the CDMO market in the upcoming years.
Increase in services
CROs( Contract Research Organizations) and CDMOs are merging up for providing specialized services on drug formulation and development. Right from blending, coating, serialization, packaging, converting, shipment, and analytical services everything is being taken up by CDMOs who have dedicated staff, equipment, and state of manufacturing facilities for expediting the process. Hence the rapid spread of the sector will augment the growth of the CDMO market during the forecast period.
R&D initiatives
The production of many generic, biosimilar, and biologic drugs entails risks as most clinical trials end up failing in the testing stage. This leads to wastage of funds and delayed manufacturing. Hence CDMOs through their technical expertise share the R&D risks providing an agile production process. The operational costs are reduced due to no additional investments in facilities, labor, or machines. Resource allocation is optimized. These factors will drive the growth of the CDMO market during the review period.
By Type
• API Development
• Manufacturing
• Drug Delivery
API Development had a revenue share of 47% in 2018,followed by manufacturing and drug delivery.
By Application
• Pharmaceutical Company
• Biotechnology Company
• Generic Company
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-17B3860/global-contract-development-and-manufacturing-organizations-cdmos
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2. Biologics CDMO Market: https://reports.valuates.com/market-reports/QYRE-Auto-23W9304/global-biologics-contract-development-and-manufacturing-organization-cdmo
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