Dublin, March 29, 2024 (GLOBE NEWSWIRE) -- The "Active Pharmaceutical Ingredient CDMO Market Size, Share & Trends Analysis Report By Product, By Synthesis, By Drug, By Application, By Workflow, By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
Market Expansion Driven by Innovation and Outsourcing
The global market for Active Pharmaceutical Ingredient Contract Development and Manufacturing Organizations (API CDMO) has displayed robust growth with projections to continue at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030. The market is responding to increased R&D investments and a growing demand for generic and biological drugs. The development is catalyzed by the impending patent cliffs of several blockbuster drugs, as well as the strategic outsourcing of drug development processes fostered by the pursuit of cost-reduction and operational efficiency among pharmaceutical companies.
Specialized CDMO Services in High Demand
Leading the market, the traditional active pharmaceutical ingredient segment represented a significant market share, while the innovative drugs segment claimed a substantial portion of the market revenue in 2022. This segmental growth is attributed to the growing number of approvals for new molecular entities and an increase in research and development initiatives. Additionally, there is a notable shift towards precision medicine, which has escalated the demand for highly potent APIs, particularly in oncology - the sector with the highest revenue share.
Increased Adoption of Biopharmaceuticals
Biotechnology is poised for rapid market growth due to a surge in the adoption of biopharmaceuticals, along with continuous progress in chronic and infectious disease treatments. Concurrently, the clinical workflow segment is expected to experience a substantial growth rate, reflecting an increased number of clinical trials and the escalating need for novel therapeutic entities.
Asia Pacific Emerging as a Market Leader
The Asia Pacific region stands out with an expected highest regional CAGR over the forecast period. This growth is underpinned by the upsurge of pharmaceutical companies and contract manufacturing entities, especially in burgeoning economies such as India and China. This indicates a potential future shift in market dominance, with Asia Pacific potentially overtaking long-established pharmaceutical hubs in Europe and North America.
The API CDMO market continues to evolve, shaped by technological advancements, strategic corporate actions, and an unwavering commitment to meeting rapid market needs – demonstrated emphatically during the COVID-19 pandemic. Going forward, the market is poised for significant transformations as it adapts to the ever-changing demands of the global healthcare landscape.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 137 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $100.4 Billion |
| Forecasted Market Value (USD) by 2030 | $164.5 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
Companies Featured
- Cambrex Corporation
- Recipharm CP
- Thermo Fisher Scientific Inc. (Pantheon)
- CordenPharma International
- Samsung Biologics
- Lonza
- Catalent, Inc.
- Siegfried Holding AG
- Piramal Pharma Solutions
- Boehringer Ingelheim International GmbH
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