Dublin, June 28, 2023 (GLOBE NEWSWIRE) -- The "Contract Manufacturing Outsourcing (CMO) of Sterile Injectable Drugs Market Report 2022-2032" report has been added to ResearchAndMarkets.com's offering.
The market will surpass US$22.3 billion in 2023
Rising Demand for Outsourcing Drug Manufacturing by Pharmaceutical Companies to Boost Market Growth
Over the last few decades, contract manufacturing organisations (CMOs) have evolved as a viable alternative to pharmaceutical businesses' in-house research and production departments. Contract manufacturing organisations (CMOs) are proven to be a successful business model as they become more integrated into pharmaceutical firms' value chains.
Despite the fact that the sector as a whole is expanding, many CMOs are encountering new obstacles. As a result of growing expenses, constantly improving technology, and a surge in mergers and acquisitions, competition in this sector has intensified. As a result of these considerations, organisations must decide what actions they might take to defend or improve their position.
Manufacturing costs are much lower in the Asia-Pacific area than in North America and Europe, and favourable laws are fuelling the rise of the CMO business. Despite the fact that API manufacturing services have mostly shifted to China and India, the United States remains the major site for pharmaceutical development outsourcing.
Several reasons contribute to this predicament, including the abundance of funding and the concentration of pharmaceutical research hubs in universities. Pharmaceutical development in poor countries is also unfavourable owing to quality difficulties, logistical constraints, and legal challenges.
Market Growth is Hindered by Growing Competition from Small Manufacturers
The market's discontinuance is considered in the perspective of the whole evaluation process for product lifespan and market viability. Drug discontinuation is defined as authorised products that are removed from the market or withdrawn for reasons other than safety or efficacy and are never again discontinued, marketed, exported, or used in the military. The possibility for a pharmaceutical corporation to pull a medicine from the market can have serious effects, including financial losses, loss of goodwill, and disrupted therapeutic research.
The consumer product literature contains well-developed dominating pricing methods, particularly skimming and penetration pricing. Pharmaceutical items use the same market-dynamic pricing mechanisms as other products. According to the current market study, the primary factor determining a product's pricing is a larger therapeutic benefit.
The greater the clinical benefit over previously accessible medications on the market, the higher the initial price of the product. If the sterile injectables medication product's life cycle was not extended, this incident might result in significant losses for the corporation and, finally, product termination.
What Questions Should You Ask before Buying a Market Research Report?
- How is the CMO of Sterile Injectable Drugs market evolving?
- What is driving and restraining the CMO of Sterile Injectable Drugs market?
- How will each CMO of Sterile Injectable Drugs submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2032?
- How will the market shares for each CMO of Sterile Injectable Drugs submarket develop from 2022 to 2032?
- What will be the main driver for the overall market from 2022 to 2032?
- Will leading CMO of Sterile Injectable Drugs markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2032 and which geographical region will lead the market in 2032?
- Who are the leading players and what are their prospects over the forecast period?
- What are the CMO of Sterile Injectable Drugs projects for these leading companies?
- How will the industry evolve during the period between 2022 and 2032? What are the implications of CMO of Sterile Injectable Drugs projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the CMO of Sterile Injectable Drugs market?
- Where is the CMO of Sterile Injectable Drugs market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
Market Dynamics
Market Driving Factors
- Growing Focus on Development to Treat Cancer
- Rising Prevalence of Chronic Diseases
- Rapid FDA Approvals of Sterile Injectable Drugs to Fuel Market Growth
- As Manufacturers Invest in New Manufacturing Facilities, The Demand for Sterile Injectables is Expected to Rise
- Increasing Demand for Biologicals is Expected to Drive the Demand
Market Restraining Factors
- Growing Competition from Small Manufacturers
- High Operational Costs
- Inadequate Healthcare Infrastructure Across Developing Economies Challenging Market Growth
Market Opportunities
- Prefilled Syringes to Offer Lucrative Growth Prospects
- Growing Investments
- Expanding Clinical Trial Opportunities in the Asia Pacific Region
Market Challenges
- Disruption of Clinical Trials Due to Pandemic Breakout
COVID-19 Impact Analysis
Porter's Five Forces Analysis
PEST Analysis
Leading companies and the potential for market growth
- Adare Pharma Solutions
- Aenova Group
- Almac Group
- Avara Pharmaceutical Services, Inc.
- Baxter International Inc.
- Boehringer Ingelheim International GmbH
- Catalent, Inc.
- CordenPharma
- Eli Lilly and Company
- Evonik Industries AG
- F. Hoffmann-La Roche Ltd
- FAMAR Health Care Services
- Fresenius Kabi Ag
- Grifols SA
- Hikma Pharmaceuticals PLC
- Jubilant Pharmova Limited
- Lonza
- Nexus Pharmaceuticals, Inc.
- Patheon, Inc. (Thermo Fischer)
- Pfizer CentreOne
- Recipharm AB
- Siegfried Holding AG
Segments Covered in the Report
Molecule Type
- Small Molecule
- Large Molecule
Type
- Monoclonal Antibodies (mAbs)
- Cytokines
- Insulin
- Peptide Hormones
- Vaccines
- Immunoglobulins
- Blood Factors
- Peptide Antibiotics
- Others
Application
- Cancer
- Diabetes
- Cardiovascular diseases
- CNS
- Infectious
- Others
Container Type
- Bottles
- Ampoules
- Vials
- Prefilled syringes
- Bags
Route of Administration
- Subcutaneous (SC)
- Intravenous (IV)
- Intramuscular (IM)
- Others
North America
- U.S.
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
MEA
- GCC
- South Africa
- Rest of MEA
For more information about this report visit https://www.researchandmarkets.com/r/1cz8bo
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