Press release
Pharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market to Grow $298.03 Billion at a Surprising CAGR of 18.8% By 2028
Pharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market
The Business Research Company presents an extensive market research report on the Pharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The pharmaceutical contract development & manufacturing organization (cmo) market size has grown strongly in recent years. It will grow from $139.92 billion in 2023 to $149.65 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rising healthcare expenditure, increase in pharmaceutical research and development (r&d) expenditure and increasing preference for outsourcing..
The pharmaceutical contract development & manufacturing organization (cmo) market size is expected to see rapid growth in the next few years. It will grow to $298.03 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to increasing government support, increase in healthcare access, increase in investments and increase in biopharmaceutical development will drive the market. . Major trends in the forecast period include increased focus on sustainability, focus on integration of artificial intelligence and digitalization, innovative products with focus on resilience, increasing investments and strategic partnerships and collaborations among market players..
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Key Market Players:
Major companies operating in the pharmaceutical contract development and manufacturing organization (cmo) market report are Lonza Group, Catalent Inc, WuXi AppTec Inc., Pfizer Inc, Recipharm AB, Almac Group, Aenova Group, Baxter International Inc, SGS Life Science Services SA, Jubilant Pharmova Ltd, Dishman Pharmaceuticals, Kemwell Pvt. Ltd., Nipro Corp., CMIC Group, Sawai Pharmaceutical Co., Ltd, IDT Australia Limited, Aurigene Pharmaceutical Services Limited, Vetter Pharma International GMBH, Consort Medical PLC, Siegfried Holding AG, Evonik Industries, NextPharma, Royal DSM N.V, HAUPT Pharma AG, Boehringer Ingelheim International GmbH, Famar, OTC-PharmNEUCA, Farmacol, Polska Grupa Farmaceutyczna, Polpharma, TZMO, AbbVie Inc, Merck & Co Inc, Amgen Inc, Gilead Sciences Inc, Regeneron Pharmaceuticals Inc, Vertex Pharmaceuticals Inc, Johnson & Johnson, Eurofarma Laboratórios S.A., Ache Laboratórios Farmacêuticos S.A., Blanver Farmoquímica e Farmacêutica S.A., Prati-Donaduzzi, União Química Farmacêutica Nacional S.A, Laboratorios Richmond S.A.C.I.F., Bago S.A., Elea Laboratories S.A.C.I. y F., Gador S.A., LIFEPharma, Neopharm, Gulf Pharmaceutical Industries JULPHA, NewBridge Pharmaceuticals Limited, Aspen Pharmacare Holdings Limited, Adcock Ingram Holdings Limited, Pharma-Q (Pty) Ltd, Vital Health Foods, EIPICO (Egyptian International Pharmaceutical Industries Company), Pharco Pharmaceuticals
Market Drivers:
The growth of the pharmaceutical contract development and manufacturing market is driven by the increase in the demand for medicines across the globe. The high prevalence of diseases and the need for a longer lifespan increased the demand for medicines pushing the pharmaceutical companies to increase the production of existing drugs and raise the investment in their R&D to promote the development of new drugs. This impels pharmaceutical companies to collaborate with contract manufacturing organizations (CMOs) as a way to lower operational costs, thus, increasing the demand for pharmaceutical contract development and manufacturing market. According to Alkermes PLC., a biopharmaceutical company indicates that pharmaceutical contract manufacturing will emerge as a strategic option for many companies ranging from very large to smaller specialty pharma entities and this mostly will happen because the pharmaceutical companies are looking for cost-cutting.
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The pharmaceutical contract development and manufacturing organization (cmo) market covered in this report is segmented -
1) By Type: Contract Manufacturing Services, Contract Research Services
2) By Research Phase: Preclinical, Phase I, Phase II, Phase III, Phase IV
2) By End User: Big Pharmaceutical Companies, Generic Pharmaceutical Companies, Small And Medium-Sized Pharmaceutical Companies
Sub segments: Active Pharmaceutical Ingredients (API) Manufacturing, Finished Dosage Formulation (FDF) Development And Manufacturing, Secondary Packaging,Preclinical, Phase I, Phase II, Phase III, Phase IV
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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