Pune, Oct. 05, 2020 (GLOBE NEWSWIRE) -- Global contract development and manufacturing organization market size is projected to reach USD 278.98 billion by the end of 2026. Mergers and acquisitions are a growing trend among major companies across the world. According to a report published by Fortune Business Insights, titled “Contract Development and Manufacturing Organization Market Size, Share & Industry Analysis, By Service {By CMO (API, Finished Product {Solid Dosage Forms, Injectables, and Others}, and Packaging)} {By CRO (Discovery, Preclinical, Clinical Trial, and Laboratory Services)} and Regional Forecast, 2019-2026,” the market was worth USD 130.80 billion in 2018 and will exhibit a CAGR of 10.0% during the forecast period, 2019-2026.
Industry Developments:
February 2019: Jubilant Biosys collaborated with Sanofi to develop small molecule inhibitors for in the CNS therapeutic area.
Highlights of the Report:
- Analysis of the impact of Covid-19 that the market would face in the near future.
- In-depth analysis of the growth drivers and obstacles.
- Profile of all the companies operating in the market.
- Elaborate data about the dominating region.
- Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
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The contract development and manufacturing organization market is segmented on the basis of factors such as service and geographies. The report provides forecast values for the market for the period of 2019-2026. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals.
The report highlights the latest product launches and labels major innovations in the market. In addition to this, it states the impact of these products on the growth of the market. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years.
A contract development and manufacturing organization (CDMO) helps healthcare companies for the development of drugs. It is involved in the overall process, right from the clinical trials till the commercialization and distribution of the drugs. The complexities in therapies and lack of in-house manufacturing capabilities will have a positive impact on the growth of the market in the coming years.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Recipharm AB Introduces New Fully Integrated Service Platform
Accounting to the huge potential held by CDMOs, several companies are looking to invest more in the development of newer products. The huge investments have yielded a few exceptional products in recent years. In May 2019, Recipharm AB announced the launch of a fully integrated service platform for inhalation products.
This will include the early stages of the products including the pre-clinical trials to the commercialization of the products. Recipharm’s latest product will generate huge sales and subsequently high revenues for the company. This will not just benefit the company, but will have a positive impact on the growth of the overall market in the coming years.
Asia Pacific to Register Highest CAGR; Increasing Company Collaborations Will Aid Growth of the Regional Market
The report analyses the ongoing CDMO market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific will register the highest CAGR in the coming years driven by the increasing number of company collaborations and mergers in several countries across the world.
The market in North America is projected to emerge dominant in the coming years, owing to the presence of several well-established companies. As of 2018, the market in North America was worth USD 48.72 billion in 2018 and this value is projected to increase further in the coming years.
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List of companies profiled in the report:
- Catalent, Inc
- Baxter
- Vetter
- Recipharm AB
- Albany Molecular Research Inc. (AMRI)
- Thermo Fisher Scientific Inc. (Patheon)
- Unither
- DPT LABORATORIES LTD.
- NextPharma Technologies
- Others
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Contract Development and Manufacturing Organization Market Segmentations:
By Service
• By CMO
o API Manufacturing
o Finished Product Manufacturing
o Solid Dosage Forms
o Injectables
o Others (Semisolids/liquid, powder)
o Packaging
• By CRO
o Discovery
o Preclinical
o Clinical
o Laboratory Services
By Geography
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, and Rest of Asia Pacific)
• Rest of the World
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