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Inhalation CDMO Global Market Report 2024: Size, Share, Growth, Trends, Outlook to 2033
Inhalation CDMO Market
According to The Business Research Company's, The inhalation CDMO market size has grown strongly in recent years. It will grow from $1.94 billion in 2023 to $2.08 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to rising prevalence of respiratory disorders, growing demand for personalized medicine, increasing outsourcing by pharmaceutical companies, growth of the biopharmaceutical industry.
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Market Drivers and Trends:
The increasing prevalence of respiratory disorders is expected to propel the growth of the inhalation CDMO market going forward. Respiratory disorders are a group of medical conditions that affect the respiratory system, which includes the organs and structures involved in breathing. Inhalation CDMOs are used in the development and manufacturing of products for respiratory disorders due to their expertise in formulating and delivering drugs to the lungs, offering specialized expertise, infrastructure, and resources to pharmaceutical companies seeking to bring innovative inhalation therapies. For instance, in June 2023, according to reports shared by the Australian Institute of Health and Welfare, an Australia-based national agency, there was a rise in respiratory disease-related deaths from 43,031 in 2020 to 46,551 in 2021in Australia. Furthermore, in September 2022, according to the data published by The Lancet, a UK-based book and periodic data publishing organization, 11,255 new cases of RSV were recorded in 2021, which is 11.4% more compared to 9,972 cases in 2020. Therefore, the increasing prevalence of respiratory disorders is driving the growth of the inhalation CDMO market.
Major companies operating in the inhalation CDMO industry are adopting a strategic partnership approach to provide specialized drug development and delivery. A strategic partnership is a long-term, mutually beneficial arrangement between two or more companies that work together to achieve shared goals. For instance, in May 2023, Hovione, a Portugal-based Contract Development and Manufacturing Organization, partnered with H&T Presspart, a UK-based manufacturer of high-precision metal and plastic components for the pharmaceutical industry, to develop Presspart's Sunrise Capsule-based Dry Powder Inhaler platform. This partnership focuses on developing new technologies that can deliver higher doses of drugs and improve the efficiency of drug delivery to the lungs.
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Major Key Players of the Market:
Pfizer Inc., Merck KGaA, Baxter's BioPharma Solutions, Lonza Group AG, Catalent Inc., AptarGroup Inc., Samsung Biologics Co. Ltd., Siegfried Holding AG, Recipharm AB, Stevanato Group SpA, Cambrex Corporation, CordenPharma, Nemera, Hovione FarmaCiencia SA, Vectura Group Ltd., CARBOGEN AMCIS, Kindeva Drug Delivery Ltd., Frontage Laboratories Inc, Formosa Laboratories Inc, Sanner GmbH, H&T Presspart Ltd., Astech Projects Ltd, Cliantha Research, Dipharma Francis Srl, Copley Scientific
Inhalation CDMO Market 2024 Key Insights:
• The inhalation cdmo market is expected to grow to $2.7 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Rising Respiratory Disorders Fueling Growth In Inhalation CDMO Market
• Strategic Collaborations Transforming Inhalation CDMO Landscape
• North America was the largest region in the inhalation contract development and manufacturing organization (CDMO) market in 2023
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