Dublin, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The "Global Contract Development & Manufacturing Organization (CDMO) Market: Insights & Forecast (2023-2027)" report has been added to ResearchAndMarkets.com's offering.
The global CDMO market is expected to reach a value of US$269.54 billion in 2027, growing at a CAGR of 9.32% during the period spanning 2023-2027.
The market is driven by various factors, including increasing per capita disposable income, rising global healthcare expenditure, a growing aging population, increasing R&D spending, a surge in the number of new drugs, rise in investments and strategic collaborations, and growing demand for pharmaceutical products. However, the growth of the industry may face challenges due to stringent government regulations.
Notable Trends in the CDMO Market
The report highlights several notable trends in the CDMO market, such as the increasing demand for highly potent API manufacturing services, growing demand for quality by design services, growth in the oncology segment, growing demand for process development CDMO services, and the lengthy and costly drug development process.
Market Segmentation
The CDMO market is segmented based on services and products. The global API drug market accounts for the highest share of the market and is expected to grow further, driven by the increasing number of biologics APIs in the pipeline stage and the growing adoption of multiple therapies. Small molecule drugs hold a major share of the market based on products, owing to the surge in pharmaceutical R&D activities worldwide.
Geographical Analysis
North America is the major contributor to the global CDMO market, supported by growing collaborations and a wide range of services provided by CDMOs in the region. Asia Pacific is the fastest-growing market for CDMOs, benefiting from a highly skilled workforce and a low research and development cost advantage.
Report Scope
- The report provides a comprehensive analysis of the global CDMO industry.
- The major regional markets (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) have been analyzed.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The company profiles of leading players (Catalent, Inc., Recipharm AB, Evotec SE, Lonza Group AG, Biomerieux SA and Thermo Fisher Scientific Inc.) are also presented in detail.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 66 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $188.73 Billion |
| Forecasted Market Value (USD) by 2027 | $269.54 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/9kqqw7
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