Pune, April 22, 2020 (GLOBE NEWSWIRE) -- The global contract manufacturing organization market size is projected to reach USD 188.07 billion by the end of 2026. The increasing emphasis on the R&D of newer drugs and therapeutic procedures will bode well for the market in the coming years. According to a report published by Fortune Business Insights, titled “Contract Manufacturing Organization Market Size, Share & Industry Analysis, By Type (API Manufacturing, Finished Dosage Form Manufacturing (Solid Dosage Forms, Injectable, and Others) and Packaging), and Regional Forecast, 2019-2026,” the market was worth USD 92.42 billion in 2018 and will exhibit a CAGR of 9.4% during the forecast period, 2019-2026.
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A contract manufacturing organization is an organization that provides drug development services to companies operating in the pharmaceutical industry. These organizations are involved in the entire development p5rocess, right from the clinical trial and phases till the commercialization of the drugs. The high investment in the drug development processes is an indication of high prevalence of serious chronic diseases. The severity of these diseases and their potential to have a direct impact on the life expectancy has benefited the contract manufacturing companies across the world. Recent advances in molecular biological concepts have allow3d operations and therapeutic procedures of the highest calibre as well as efficiency. The advances in clinical trials of several drugs associated with the disease will have a direct impact on the growth of the market in the coming years.
An Overview of the Impact of COVID-19 on this Market:
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Increasing Number of Company Mergers Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company mergers ndacquisitions has made a huge impact on the growth of the market. In July 2018, Catalent Inc. announced the acquisition of Juniper Pharma. Through this acquisition, the company will look to capitalize on Juniper Pharma’s exceptional product portfolio. Accounting to the massive global consumer reach of Catalent Inc.’s latest acquisition will have a direct impact on the growth of the overall market in the forthcoming years.
North America Currently Dominates the Market; Presence of Several Large Scale Companies to Aid Growth
The report analyzes the ongoing contract management organization market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in North America held the largest market share in 2018. The presence of several large scale companies has had a massive impact on the growth of the regional market. As of 2018, the market in North America was worth USD 32.60 billion and this value is projected to increase further in the coming years. The market in will emerge as the second largest market in the coming years accounting the high prevalence of several forms of cancer in several countries across this region.
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List of the leading companies that are operating in the global CMO market include:
- Catalent Inc.
- Recipharm AB
- Jubilant Life Science Ltd
- Lonza Group AG
- BoehringerIngelheim International GmbH
- Vetter Pharma-Fertigung GmbH & Co. KG
- FAMAR Health Care Services
- Dr. Reddy’s Laboratories Ltd.
- Almac Group
- Other prominent players
Industry Developments:
August 2017: STA Pharmaceutical announced that it has completed a merges with WuXi’s pharmaceutical development division.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Regulatory Scenario by Key Countries/Region
- New Technology Trends in Contract Manufacturing
- Key Industry Trends (Mergers, Acquisitions and Collaborations)
- Key Strategies of Leading Players operating in the CMO market
- Global Contract Manufacturing Organization Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- API Manufacturing
- Finished Formulation Manufacturing
- Solid Dosage Forms
- Injectable
- Others (Semisolids/liquids, Powder)
- Packaging
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Have a Look at Related Reports:
Contract Research Organization (CRO) Services Market Size, Share and Global Trend By Service Type (Discovery, Pre-Clinical, Clinical, Laboratory Services), By Application (Oncology, Cardiology, Infectious Disease, Metabolic Disorders), By End User(Pharmaceutical & Biotechnological Companies, Medical Device Companies, Academic & Research Institutes) and Geography Forecast till 2026
Contract Development and Manufacturing Organization (CDMO) 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
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