DUBLIN--(BUSINESS WIRE)--The "Pharmaceutical CDMO Market Size, Share & Trends Analysis Report By Product (API, Drug Product), By Workflow (Clinical, Commercial), By Application (Oncology), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global pharmaceutical CDMO market size is expected to reach USD 232.587 billion by 2030, registering a CAGR of 6.1%
Increasing demand for biologics, growing outsourcing of drug development and manufacturing activities, and rising investments in research and development (R&D) by pharmaceutical and biotechnology companies as key drivers of market growth.
Additionally, the report highlights the emergence of small and mid-sized pharma and biotech companies and the shift towards personalized medicine as further factors expected to drive the market forward.
The rising demand for biologics, in particular, is anticipated to significantly contribute to the expansion of the CDMO industry. The use of these complex molecules created by living things in the treatment of many ailments is becoming more and more crucial.
Because many pharmaceutical and biotechnology companies lack the specific manufacturing capabilities needed for biologics, medication research, and manufacturing processes are increasingly being outsourced. Pharmaceutical and biotech firms are turning to CDMOs to assist in lowering costs and increasing efficiency as the cost of drug development and production keeps rising.
The market for CDMOs is expanding because of a number of developments, including the expansion of small and mid-sized pharma and biotech firms, the trend toward personalized medicine, and the rising need for biologics. The COVID-19 pandemic provides a recent illustration of the demand for CDMO services.
Several businesses lack the specific knowledge and manufacturing capabilities needed to develop and produce COVID-19 vaccines and treatments. As a result, some pharmaceutical firms have enlisted CDMOs' assistance in the development and manufacturing of vaccines and treatments.
For instance, Moderna, a biotech company, partnered with Lonza, a CDMO, to manufacture its COVID-19 vaccine. This partnership allowed Moderna to significantly increase its manufacturing capacity and produce millions of vaccine doses in a short amount of time, helping to address the urgent need for COVID-19 vaccines.
This example highlights the important role that CDMOs play in drug development and manufacturing and how they are helping to address critical global health challenges.
Pharmaceutical CDMO Market Report Highlights
- API holds the largest revenue share and fastest CAGR in 2022, primarily due to its crucial role as the primary component of any formulated drug. The lack of skilled expertise and inadequate manufacturing capacity are driving CDMOs and CMOs to invest heavily in the expansion of API manufacturing capacities
- The commercial segment dominated the CDMO market in 2022, driven by the increasing demand for generic drugs and the approval of numerous regenerative medications and other biologic treatments. These factors are fueling the demand for commercial drug CDMO services
- Due to the rising global incidence of cancer, the oncology category is dominating the CDMO market with a sizable revenue share and the quickest growth rate. Since cancer is the largest cause of death worldwide, there will likely be an increase in the demand for innovative cancer therapies, which will present opportunities for the CDMO and pharmaceutical industries. Oncology drug development in the pharmaceutical sector is expected to have a major impact on revenue
- Asia Pacific dominated the market with the largest market share and fastest growth rate in 2022, mainly driven by India and China's favorable legislation and significantly low production costs. The region continues to be the leading market for contract development and manufacturing organizations. While China and India are the leading providers of API manufacturing, the United States remains the main outsourcing hub for pharmaceutical development
Market Dynamics
Market Driver Analysis
- Increasing pharmaceutical R&D investments
- Increasing outsourcing services by pharmaceutical companies
- Rising investments in R&D
- Growing consumption of biopharmaceuticals
- Increasing demand for one-stop-shop CDMOs
Market Restraint Analysis
- Compliance issues while outsourcing
- Changing scenarios in developing countries
- Regulatory and legal compliance
Global Pharmaceutical CDMO Market Analysis Tools
- Porter's Five Forces Analysis
- PESTEL Analysis
Major Deals & Strategic Alliances Analysis
- Expansions
- Partnership and Collaboration
- Merger and Acquisition
- Service and Product launch
- Joint Venture
COVID-19 Impact & Recovery Analysis
- COVID-19 Impact
- COVID-19 Recovery Analysis
- Pre-pandemic bioCDMO Capacity Challenges
- BioCDMO Industry Growth
- Post-COVID-19 Revenue and Capacity Projections
Competitive Landscape
- Bushu Pharmaceuticals LTD.
- NIPRO Corporation
- Thermo Fisher Scientific Inc.
- Samsung Biologics
- Laboratory Corporation of America Holdings
- Siegfried Holding AG
- Catalent, Inc.
- Lonza Group AG
- Recipharm AB
- Piramal Pharma Solutions
- CordenPharma International
- Cambrex Corporation
- Wuxi AppTec
For more information about this report visit https://www.researchandmarkets.com/r/iqesmi
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