NEWARK, Del, May 23, 2023 (GLOBE NEWSWIRE) -- The global CMO/CDMO Market is anticipated to expand significantly, registering a CAGR of 5.7% from 2023 to 2033. In 2023, the global CMO/CDMO market is expected to be worth US$ 22.5 Billion. By 2033, the market is expected to be worth US$ 39.4 Billion.
As more pharmaceutical companies consider outsourcing their operations, demand for services from contract manufacturing and contract development manufacturing organizations is poised to increase. Future Market Insights (FMI) believes that the CMO/CDMO market has enormous potential for growth in the coming years. An increasing need for generic drugs and biologics is expected to propel the market growth.
Currently, an increasing number of consumers prefer locally sourced and natural products over big brands. This will necessitate cutting-edge technology as well as other resources.
Key Takeaways:
- Over the historical period, the worldwide market grew at a CAGR of 5.3%.
- The Indian market is expected to expand at a CAGR of 5% in the coming decades.
- In 2022, North America had a share of the global revenue of more than 17.6%.
- Over the next few decades, the Chinese market is expected to grow at a CAGR of 5%.
- In 2022, the contract manufacturing segment held 69.28% of the market.
Drivers and Challenges have an Impact on Market Dynamics, which can Impact your Business. Find more details in our Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-13038
“The growing trend towards private-label companies has created numerous opportunities for CMO/CDMOs. Customer tastes have shifted lately increasing demand for private-label companies, which is anticipated to present opportunities for CMOs shortly. The shift is primarily due to price, accessibility, variety, and consumer feedback,” - says an analyst at FMI.
Competitive Landscape:
The vendor landscape in the CMO/CDMO market is consolidated. There is a continuing need for research and development, which is still a key strategy among market players. Strategic collaborations are another common strategy used to gain a competitive advantage
- An authorization and distribution consent revision between Societal CDMO and Lannett Firm for marketing Verapamil PM and Verelan SR products was executed in July 2022. Societal CDMO is a contract creation and manufacturing organization (CDMO) that emphasizes in the invention and production of small molecules. In conjunction with a ten percent spike in the earnings share portion of revenue from Verapamil PM selling, society is going to observe both instantaneous and anticipated price hikes in development.
- MilliporeSigma, Merck KGaA's U.S. and Canada Life Science enterprise, doubled its capability for making high-potent active pharmaceutical ingredients (HPAPI) in June 2022 with the establishment of the facility in Verona, close to Madison, WI. The $65 Million, 70,000-square-foot complexes will hire 50 individuals in the community.
More Valuable Insights:
Future Market Insights, in its new offering, presents an unbiased analysis of the gobal CMO/CDMO market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights by Product (Pulmonary Biopsy Devices, Endobronchial Ultrasound (EBUS) Needles, Airway Stents, Airway Extraction Baskets, Single-Use Bronchoscopes), Indication (Lung Cancer, COPD, Foreign Body Extraction, Tracheal and Bronchial Stenosis), End User & Region.
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Key Players:
- Swiss American CDMO
- Pierre Fabre Group
- Zymo Cosmetics
- Fareva
- Biofarma Srl C.F.
- Chemineau
- C.O.C. Farmaceutici Srl
- Paragon Nordic
Key Segments Profiled:
By Service:
- Contract Development
- Formulation development
- Pilot studies
- Contract Manufacturing
- Bulk preparation & scale up
- Safety Testing
- Filling & Packaging
- Close jars
- Bottles
- Tubes
- Roll-ons
- Others
By Product:
- Hair Products
- Skin Products
- Lip Products
- Eye Products
- Body Hygiene
- Oral Hygiene
By Form:
- Solid Form & Powder
- Lotions
- Creams
- Others
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Service
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Service, 2018 to 2022
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About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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