Austin, Dec. 12, 2024 (GLOBE NEWSWIRE) -- CMO/CDMO Market Size Analysis:
“According to SNS Insider, the CMO/CDMO Market reached USD 23.32 billion in 2023 and is anticipated to grow up to USD 38.87 billion by 2032 at a compound annual growth rate of 5.86% during the forecast period 2024-2032.”
This is due to increasing pharmaceutical production complexity, rising demand for biologics and personalized medicine, and an overall trend toward outsourcing drug development and manufacturing.
Rising Demand for Efficient Drug Development and Manufacturing Drives Market Growth
The pharmaceutical and biotechnology industries are rapidly shifting towards outsourcing drug development and manufacturing to specialized service providers, including CMOs and CDMOs. This is because of the increasing complexity of drug formulations, especially biologics, and the growing need for cost-effective production at scale. The trend of personalizing medicine and its focus on customized therapies is only speeding the industry's demand for more specialized manufacturing services that could respond to the requirements that such therapies entail.
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Market Overview
The CMO/CDMO market has demonstrated a strong growth trajectory over the years as pharmaceutical companies increasingly rely on third-party manufacturers for both the development and production of drugs. This outsourcing model allows pharmaceutical companies to concentrate on research, development, and marketing while leaving the more complex and resource-intensive manufacturing and development tasks to specialist external partners. The demand for these services has increased as drug development has become more specialized, focusing on biologics, personalized medicine, and complex formulations.
More recent supply chain pressures to do things more efficiently and flexibly across the globe and be able to respond accordingly increased the demand for contract manufacturing services. The CMO and the CDMO are working at relieving these kinds of problems by offering contract, scale-up, and focused, specialized manufacturing solutions capable of answering the increasing requirements in types of drugs, that would encompass the biologics, generics, and OTC products. The growth in this market has been fueled by the need for quality and regulatory compliance drug manufacturing processes, and it is expected to continue accordingly throughout the forecast period.
Major Players Analysis Listed in this Report are:
- Swiss American CDMO
- Pierre Fabre Group
- Zymo Cosmetics
- Fareva
- Biofarma Srl C.F.
- Chemineau
- C.O.C. Farmaceutici Srl
- Paragon Nordic
- Lonza Group
- Catalent Inc.
- Samsung Biologics
- Thermo Fisher Scientific
CMO/CDMO Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 23.32 billion |
| Market Size by 2032 | US$ 38.87 billion |
| CAGR | CAGR of 5.86% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
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Segment Analysis
By Service:
- Contract manufacturing was the dominant service in the CMO/CDMO market in 2023, accounting for around 60.0% of the market share. Pharmaceutical companies increasingly prefer outsourcing large-scale production to specialized manufacturers to reduce costs, ensure regulatory compliance, and scale production efficiently. Contract manufacturing offers these companies flexibility, cost savings, and access to state-of-the-art manufacturing facilities.
- Contract development services are anticipated to grow the fastest over the forecast period. This growth is driven by the rising complexity of drug formulations, especially biologics, and the increasing need for specialized expertise in drug development. CMOs and CDMOs are now expected to provide not just manufacturing services, but comprehensive solutions encompassing formulation development, clinical trials, and regulatory compliance. The increasing demand for personalized medicine and biologics is a major driver of the expansion of contract development services.
By Form:
- Solid forms and powders, including tablets and capsules, dominated the CMO/CDMO market in 2023, holding a share of around 40.0%. Solid dosage forms are preferred for many pharmaceutical applications due to their stability, ease of administration, and scalability in production. This form remains the most common choice for oral medications, which are widely used by patients and manufacturers alike.
- The creams segment is expected to experience the fastest growth from 2024 to 2032. The increasing demand for creams, particularly in skin care and cosmetic applications, has driven this growth. Innovations in cream formulations catering to specific skin concerns, as well as the growing consumer interest in skincare routines, have made creams one of the fastest-growing segments within the CMO/CDMO market. This is especially evident in the dermatology and anti-aging sectors.
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CMO/CDMO Market Key Segmentation:
By Service
- Contract Development
- Contract Manufacturing
- Others
By Form
- Solid Form & Powder
- Lotions
- Creams
- Others
Recent Developments
- September 2024: Samsung Biologics invested multi-billions to expand its biomanufacturing capacity with a fifth 180,000 L plant and a dedicated ADC facility in South Korea. The Plant 5 will be completed by April 2025, bringing the total capacity to 784,000 L.
- October 2024 - The FDA granted McGuff Pharmaceuticals approval for its new cutting-edge, 86,000-sq.-ft sterile fill-and-finish facility in Santa Ana, California. The new facility is to boost the firm's place in the market of CMO/CDMO as more quality sterile drug manufacturing services are sought in this industry.
- August 2024 - WuXi AppTec officially opened a brand-new biologics manufacturing facility in Singapore to support a growing customer base. Both clinical and commercial-scale biologics will be made at this facility, showcasing the commitment of the firm to cater to the need for drug manufacturing in a global environment.
Regional Analysis
North America was the largest market for CMO/CDMOs in 2023, due to the expanding pharmaceutical industry in the United States, which represents a significant share of the world's pharmaceutical sales. Major pharmaceutical companies are also based in the region, outsourcing their contract manufacturing needs to save on costs and expand production. The U.S. is also an important player in the biologics market, and its pharmaceutical market will continue to be an important driver for demand in this specialized manufacturing and development area.
Asia-Pacific is expected to see considerable growth over the forecast period. India and China will be significant hubs for CMO/CDMO services in the Asia-Pacific region. They are attractive locations for outsourcing drug manufacturing due to cost advantages and a large pool of skilled labor. Investments in advanced manufacturing facilities are increasing to meet the rising demand for biologics and other specialized drug products.
Europe is also among the key markets for CMO/CDMO where leading pharmaceutical companies are positioned and the demand for CMO/CDMO contract manufacturing services is increasing more and more. The strong focus on innovation, especially from the biologics end and personalized medicine, helps drive the growth of CMO/CDMO, further.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Healthcare and Pharmaceutical R&D Spending, by Region (2023)
5.2 Manufacturing Capacity Utilization Rates (2023)
5.3 Regulatory Approvals and Impact on CMO/CDMO Market (2023)
6. Competitive Landscape
7. CMO/CDMO Market Segmentation, by Service
8. CMO/CDMO Market Segmentation, by Form
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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