The Pharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market Report 2023 by The Business Research Company, provides pharmaceutical contract development and manufacturing organization (cmo) market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Pharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market Report 2023, the market size is expected to grow from $122.31 billion in 2022 to $130.82 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pharmaceutical contract development and manufacturing market is expected to grow from $196.53 billion in 2027 at a CAGR of 10.7%.
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.
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The pharmaceutical contract development and manufacturing organization (cmo) market is segmented:
1) By Type: Active Pharmaceutical Ingredient (API) Manufacturing, Finished Dosage Formulation (FDF) Development and Manufacturing, Secondary Packaging
2) By Research Phase: Preclinical, Phase I, Phase II, Phase III, Phase IV
3) By End-User: Big Pharmaceutical Companies, Generic Pharmaceutical Companies, Small & Medium-Sized Pharmaceutical Companies
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.
The pharmaceutical contract development and manufacturing organization (cmo) market report table of contents includes:
1. Executive Summary
2. Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market Characteristics
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
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26. Africa Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market
27. Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market
29. Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Recipharm AB
- Pfizer Inc
- Boehringer Ingelheim International GmbH
- Aenova Group
- Famar
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