Press release
Pharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market Report 2024
Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
1. Executive Summary
2. Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market Report Structure
3. Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market Trends And Strategies
4. Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market - Macro Economic Scenario
5. Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market Size And Growth
…..
27. Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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