Yahoo Finance Pharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market Report 2023
Major players in the pharmaceutical contract development and manufacturing market are Recipharm AB, Pfizer Inc., Boehringer Ingelheim International GmbH., Aenova Group, Famar, Jubilant Life Sciences Limited, Catalent Pharma Solutions, Chemicals Limited, Dishman Pharmaceuticals, HAUPT Pharma AG, Kemwell Pvt.
New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market Report 2023" - https://www.reportlinker.com/p06241834/?utm_source=GNW
Ltd., Nipro Corp., NextPharma, Royal DSM N.V, Althea Technologies, Thermo Fisher Scientific Inc., Lonza Group Ltd, AbbVie Inc., Consort Medical plc, Almac Group, Siegfried Holding AG, Evonik Industries AG and Vetter Pharma International GMBH.
The global pharmaceutical contract development and manufacturing organization (CMO) market is expected to grow from $114.36 billion in 2021 to $122.31 billion in 2022 at a compound annual growth rate (CAGR) of 7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The pharmaceutical contract development and manufacturing market are expected to reach $159.94 billion in 2026 at a CAGR of 6.9%.
The pharmaceutical contract development and manufacturing market includes revenues earned by entities by providing drug development and manufacturing services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Pharmaceutical contract development and manufacturing refers to a business that offers services for drug research and manufacture 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 can work with clients that want to outsource specific steps in their workflow. Everything is based on the requirements of each client.
North America was the largest region in the pharmaceutical contract development and manufacturing market in 2022.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in the pharmaceutical contract development and manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of pharmaceutical contract development and manufacturing organization (CMO) are active pharmaceutical ingredient (API) manufacturing, finished dosage formulation (FDF) development and manufacturing, and secondary packaging.The active pharmaceutical ingredient (API) manufacturing includes the manufacturing of the part of any drug that produces the desired effects.
The various research phases include preclinical, phase I, phase II, phase III, and phase IV. The different end-use sectors include big pharmaceutical companies, generic pharmaceutical companies, and small & medium-sized pharmaceutical companies.
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 the 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 pharmaceuticals companies are looking for cost-cutting.
The pharmaceutical contract development and manufacturing market are restricted by the poor-capacity utilization of manufacturing facilities.The capacity utilization is calculated considering the full potential capacity of the production plant.
The poor-capacity utilization of the production plant is caused due to the inefficiency of different sub-processes in the production line which results in low production.The low production output results in low revenue generation for the production unit, affecting the overall pharmaceutical contract development and manufacturing market.
For instance, in January 2020, according to an article shared by Economic Times, an India-based English-language business-focused daily newspaper, The 1,500 API manufacturing facilities in India, according to the country’s drug regulatory organisation, are only operating at 40% of their potential. Therefore, the usage of capacity of the production plant negatively affects 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 the 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.
In August 2022, Catalent, Inc, a US-based provider of delivery technologies, development, and drug manufacturing, acquired Metrics Contract Services for $475 Million.This acquisition is expected to improve Catalent’s ability to work with highly potent chemicals while enhancing its expertise in integrated oral solid formulation research, production, and packaging to assist clients in streamlining and accelerating their processes.
Metrics Contract Services is a US-based pharmaceutical contract development and manufacturing organization.
The countries covered in the pharmaceutical contract development and manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The pharmaceutical contract development and manufacturing market research report is one of a series of new reports that provides pharmaceutical contract development and manufacturing market statistics, including pharmaceutical contract development and manufacturing industry global market size, regional shares, competitors with pharmaceutical contract development and manufacturing market share, detailed pharmaceutical contract development and manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the pharmaceutical contract development and manufacturing industry. This pharmaceutical contract development and manufacturing market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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