Global Healthcare CMO Market to Reach US$246.5 bn by 2019, Asia Pacific to Report Highest Growth

A research study on the global healthcare CMO market, recently published by Transparency Market Research (TMR), anticipate this market to rise at a healthy CAGR of 14.30% over the period from 2013 to 2019. The market is likely to experience an increase in its value from US$97.6 bn in 2012 to US$246.5 bn by the end of the forecast period.The research report is titled “Healthcare CMO Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.”

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In the global pharmaceutical and biotechnology industry, outsourcing market represents one of the fastest growing markets and contract manufacturing of pharmaceutical and medical devices occupies a significant portion in the overall outsourcing market. In the past, pharmaceutical and medical device industry has maintained a low level of outsourcing due to several concerns such as product quality, delay in delivery, regulatory compliance and intellectual property protection rights. However, in recent years, outsourcing strategy has become more striking, as the pharmaceutical and medical device companies are looking for various strategic options to reduce cost, improve product portfolio, reduce the time to market and improve efficiencies. Along with these, economic burden, increased financial crisis and technological advances are the other factors that have compelled pharmaceutical, biotechnology and life science companies to outsource their manufacturing processes in order to achieve their cost benefits and save time.

The global healthcare CMO market is segmented into pharmaceutical contract manufacturing services and medical devices contract manufacturing services. Further, the pharmaceutical contract manufacturing services segment is classified as API (active pharmaceutical ingredients) manufacturing, FDF (final dosage formulations) manufacturing and packaging. Among these, contract FDF manufacturing segment is expected to experience a healthy growth rate during the forecast period of 2013 to 2019, due to the rise demand for generic drugs and increasing R&D investment by life sciences companies. In addition, rise in number of blockbuster drugs going off-patent and increased adoption of novel technologies are further boosting the growth of this market. Similarly, medical devices contract manufacturing services segment is further categorized into design outsourcing, device manufacturing and final goods assembly. Among these afore-mentioned services, the market for medical device contract manufacturing accounted for largest market share (87.7%) in 2012 and is expected to grow at an attractive growth rate during the forecast period of 2013 to 2019.

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Geographically, North America constituted the largest market in the global healthcare CMO market in 2012; however, Asia-Pacific is predicted to foresee the highest growth rate of 17.8% from 2013 to 2019. This growth has been attributed to favorable government regulations, improved intellectual property protection rights and increased adoption of novel technologies. In addition, tax benefits, low labor costs and other overheads and availability of skilled professionals at a very low cost compared to developed nations would trigger the growth of this market in Asia-Pacific region.

The major players of this market are Boehringer Ingelheim GmbH, Catalent Pharma Solutions, Inc., DSM, Fareva, Lonza Group, Patheon, Inc., Piramal Healthcare, Accellent, Symmetry Medical, Inc., Greatbatch, Inc., Memry Corporation, Teleflex MedOEM, Admedes Schuessler and Donatelle.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.