Visiongain has published a new report: Ophthalmic Drugs Contract Manufacturing Market Report 2023-2033: Forecasts by Product Type (API, FDFs), by Primary Packaging Type (Ampoules & Vials, Glass & Plastic Bottles, Ointment Tubes, Others), by Scale of Manufacturing (Preclinical, Clinical, Commercial), by Company Size (Small Sized, Mid Sized, Large Sized), by Indication (Age-Related Macular Degeneration, Glaucoma, Uveitis, Dry Eye Disease, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The ophthalmic drugs contract manufacturing market was valued at US$3,860.1 million in 2023 and is projected to grow at a CAGR of 6.4% during the forecast period 2023-2033.
Reduced overall cost and time to the market
As large number of CDMOs have started providing specialized services there has been an upsurge in pharmaceutical companies leveraging these services with respect to expertise including end to end service solutions such as preclinical, clinical and commercial offered by these CDMOs. These CDMOs employ experienced scientists and engineers, expediting drug development and reducing costs. By outsourcing manufacturing, pharma companies can focus on core competencies, research, and marketing, streamlining the drug development process and gaining quicker access to the market. CDMOs' cutting-edge technologies and quality control systems ensures the production is of high-quality along with well planned capital expenditures. Additionally, CDMOs offer cost-effective manufacturing options, saving on labour costs and enabling companies to invest more in R&D. Lastly, CDMOs act as strategic regional partners, supporting businesses in hard-to-reach areas and providing valuable logistics solutions.
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How has COVID-19 had a negative impact on the Ophthalmic Drugs Contract Manufacturing Market?
The COVID-19 pandemic had a negative impact on the ophthalmic drug contract manufacturing industry. The disruptions in the global supply chain due to lockdowns and travel restrictions affected the availability of raw materials and components required for ophthalmic drug manufacturing. Moreover, many pharmaceutical companies shifted their priorities towards developing treatments and vaccines for COVID-19, diverting their internal resources away from ophthalmic drug development and manufacturing. Clinical trials and regulatory processes also experienced delays, slowing down the introduction of new ophthalmic drugs to the market.
Although there was an increase in demand for certain ophthalmic drugs, especially those used in the treatment of COVID-19-related eye conditions or complications arising from increased screen time during lockdowns however supply chain and logistical disruptions affected the consistent and timely supply of ophthalmic drugs to various regions. Overall, the COVID-19 pandemic had a negative impact on the growth of ophthalmic drug contract manufacturing market.
How will this Report Benefit you?
Visiongain’s 334-page report provides 122 tables, 174 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the ophthalmic drugs contract manufacturing market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for ophthalmic drugs contract manufacturing. Get financial analysis of the overall market and different segments including mode of delivery, clinical trial phase, therapeutic area, and end users, company size and capture higher market share. We believe that there are strong opportunities in this fast-growing ophthalmic drugs contract manufacturing market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Growing prevalence of ophthalmic disorders
The increasing prevalence of ophthalmic disorders is a key factor driving the growth of the ophthalmic drug contract manufacturing market. Conditions like glaucoma, cataracts, age-related macular degeneration (AMD), and dry eye syndrome are becoming more common due to factors like an aging population and lifestyle changes. As the incidence of these eye conditions rises, the demand for effective medications to treat and manage them also grows.
For instance, as per Center for Disease Control and Prevention (U.S.) in December 2022 stated that approximately 4.2 million Americans aged 40 and above were either legally blind or have low vision. Major causative factors responsible for blindness in this age group was ophthalmic diseases including cataract, diabetic retinopathy, glaucoma and age-macular degeneration.
To meet this ever increasing demand not only in U.S. but globally, pharmaceutical companies are seeking to develop innovative therapeutic agents and formulations through assistance from specialized CDMOs. Hence, as the market for ophthalmic drugs evolves, contract manufacturing is expected to play a vital role in meeting the growing demand for innovative ophthalmic medications worldwide.
Ease of supply chain issues and bandwidth to focus on core competencies
Outsourcing drug manufacturing to contract development and manufacturing organizations (CDMOs) can alleviate complex supply chain concerns for pharmaceutical companies, particularly those involved in ophthalmic drug development. CDMOs possess significant stockpiles, long-term supplier relationships, and the ability to relocate manufacturing if the supply chain is disrupted, making them well-prepared for emergencies.
Through strategic partnerships with ophthalmic CDMOs, pharmaceutical companies can leverage their internal resources for drug development and marketing while manufacturing aspect can be handed over to the CDMOs. Contract manufacturing offers flexibility, scalability, and reduced operational costs, as CDMOs have state-of-the-art facilities and regulatory expertise. This approach supports the parent company to mitigate the fluctuating demands without impacting its infrastructural investments. Additionally, pharmaceutical contract manufacturing facilitates time and cost savings, enabling companies to expand their capacity and collaborate with experienced manufacturers for high-quality, cost-effective solutions.
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Where are the Market Opportunities?
Process improvement with better AI, e-Platforms, real time and remote tracing
Many Contract Development and Manufacturing Organizations (CDMOs) are leveraging Artificial Intelligence and other technological advancements to enhance manufacturing efficiency and reduce costs. The digitization of CDMO services promises improved product delivery efficiency to target customers.
The pharmaceutical industry's growth is largely driven by the incorporation of modern technology, such as machine learning for cell image analysis and automated data gathering for complex diseases like AMD. Pharmaceutical CDMOs are also embracing AI technologies to enhance risk identification, ensuring higher quality and safety of pharmaceutical products.
Traditionally, pharmaceutical companies monitored CDMO production through audits and supervision. However, with process improvements, real-time tracing is now possible using the Internet of Things (IoT). IoT facilitates data sharing and rapid responses to faults or events, allowing better control of the manufacturing process and supply chain, leading to improved outcomes.
Expansion into emerging markets
Large CDMOs can explore growth opportunity for the ophthalmic drug contract manufacturing in emerging markets. These markets display speedy economic growth along with rising prevalence of eye-related disorders coupled with growing demand for ophthalmic drugs. By establishing a presence in these regions, contract manufacturers can access new customer bases and leverage partnerships with local pharmaceutical companies. Additionally, they can benefit from potential cost advantages and simplified regulatory processes. Diversifying revenue streams and addressing the healthcare needs of these emerging economies further enhance the market's growth potential.
Competitive Landscape
The major players operating in the ophthalmic drugs contract manufacturing market are Lonza, Recipharm, Catalent Inc., Eurofins Scientific, Thermo Fisher Scientific Inc., Unither Pharmaceuticals, Laboratorios Salvat, S.A., Siegfried Holding AG, Pillar5 Pharma, AbbVie Inc., Jubilant HollisterStier LLC, and Glenmark Pharmaceuticals among others. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
- In April 2022, Recipharm, a prominent global contract development and manufacturing organization (CDMO), announced the successful completion of its acquisitions of Arranta Bio, and Vibalogics, CDMOs. These acquisitions align with Recipharm's strategic objective of expanding its presence in the biologics market, specifically focusing on the manufacturing of innovative ATMPs (advanced therapy medicinal products). This also follows Recipharm's entry into the biologics sector in February 2022, through the purchase of GenIbet, a Portuguese company.
- In June 2023, Lonza announced it has acquired Synaffix B.V., a biotechnology company focused on commercializing its clinical-stage technology platform for the development of ADCs. Synaffix revenues and margins will be recognized within the Lonza business from the date of acquisition.
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To find more Visiongain research reports in the Pharma sector, click on the following links:
- Drug Discovery Outsourcing Market Report 2023-2033
- Ophthalmic Drugs Market Report 2023-2033
- Contract Manufacturing Outsourcing (CMO) of Sterile Injectable Drugs Market Report 2022-2032
- CRO Regulatory Services for Generics and Biosimilars Drugs Market Report 2020-2030
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