Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market Report 2024 Latest Insights, Growth Rate, Future Trends And Forecast | Key Players : Lonza Group, Catalent Inc, WuXi AppTec Inc., Pfizer Inc, Recipharm AB, Almac Group, Aenova

"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..

Market Overview -
Pharmaceutical contract development and manufacturing refers to a business that offers services for drug research and manufacturing within the pharmaceutical sector. Using CDMOs as a partner, pharmaceutical companies can outsource medication development and production. Full-service drug development and manufacturing outsourcing companies (CDMOs) can handle every stage of the process and work with clients who want to outsource specific steps in their workflow. Everything is based on the requirements of each client.

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Rising Demand For Medicines Fuels Growth In Pharmaceutical Contract Development And Manufacturing Market
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.

Competitive Landscape -
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

Strategic Mergers And Acquisitions Shape The Landscape Of The Pharmaceutical Contract Development And Manufacturing Market
The companies in the pharmaceutical contract development and manufacturing market are investing in acquiring and forming alliances with other companies in the market. The Pharmaceutical contract development and manufacturing companies are following the trend of merger and acquisition to expand their global market reach to meet client needs, increase their production capabilities while maintaining cost efficiencies, and get access to the latest technology and new services. The high levels of merger and acquisition activities are resulting in the consolidation of the contract service providers. For instance, in July 2022, Pharma Nobis, a US-based provider of contract manufacturing and private label services, acquired Fagron's U.S. contract manufacturing business for an undisclosed amount. Through this acquisition, Pharma Nobis is expected to offer contract manufacturing and private label services to American retailers and consumer healthcare corporations. 20% of the company will continue to be owned by Fagron.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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