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Overview and Scope
Contract development manufacturing organizations refer to businesses that work on a contract basis with the pharmaceutical sector to provide medication development and manufacturing services. These businesses enable the pharmaceutical industry to outsource some of its operations, freeing up crucial time to concentrate on medication development and marketing.
Sizing and Forecast
The contract development manufacturing organizations market size has grown rapidly in recent years. It will grow from $222.5 billion in 2023 to $249.96 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to growing complexity and specialization in drug development, increased demand for outsourcing in the pharmaceutical industry, cost containment and efficiency pressures, advancements in biotechnology and pharmaceutical research, globalization of the pharmaceutical and biopharmaceutical industries.
The contract development manufacturing organizations market size is expected to see rapid growth in the next few years. It will grow to $403.11 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to accelerated adoption of personalized medicine, rising demand for biologics and biosimilars, increased focus on research and development outsourcing, regulatory changes impacting pharmaceutical manufacturing. Major trends in the forecast period include technological advancements in manufacturing processes, integration of digital technologies in manufacturing processes, shift towards sustainable and environmentally friendly practices, rise of virtual and decentralized cdmo models, growing importance of data analytics in optimizing manufacturing operations.
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Segmentation & Regional Insights
The contract development manufacturing organizations market covered in this report is segmented –
1) By Service: CMO, CRO
2) By Product: Small Molecules, Biologics
3) By End User: Big Pharma, Small and Mid-size Pharma, Generic Pharmaceutical Companies, Other End Users
North America was the largest region in contract development manufacturing organizations market in 2023. The regions covered in the contract development manufacturing organizations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing demand for pharmaceutical products due to the increase in chronic diseases and the geriatric population contributed to the growth of the contract development manufacturing organizations market. Rising chronic diseases and geriatric population has enabled pharmaceutical companies to manufacture biologics and biosimilars quickly, and most pharmaceutical firms have contracted contract production and manufacturing organizations operating on a contractual basis to handle and coordinate the company’s tasks, operations and tests. For instance, according to the World Health Organization, the prevalence of chronic diseases rose is expected to grow 142.66 million by 2050 and the world’s population of 60 years and older is projected to rise to 2 billion. Therefore, the growing demand for pharmaceutical products is projected to drive the growth of the contract development manufacturing organizations market
Key Industry Players
Major companies operating in the contract development manufacturing organizations market report are Recipharm AB, AbbVie Contract Manufacturing LLC, Almac Group Limited, Baxter BioPharma Solutions LLC, Boehringer Ingelheim International GmbH, Catalent Pharma Solutions Inc., CMIC Holdings Co. Ltd., Covance Inc., Evotec SE, Famar Health Care Services Madrid SA, Jubilant Life Sciences Limited, Lonza Group Ltd., Patheon UK Limited, Pfizer CentreOne, The Lubrizol Corporation, Thermo Fisher Scientific Inc., Vetter Pharma International GmbH, Advanced BioScience Laboratories Inc., Adare Pharmaceuticals Inc., Aenova Holding GmbH, Ajinomoto Bio-Pharma Services, Albany Molecular Research Inc, Cambrex Corporation, CordenPharma International GmbH, EirGen Pharma Limited, Grand River Aseptic Manufacturing, Grifols Engineering SA, Hovione LLC, Metrics Contract Services, NextPharma Technologies Holding Limited, Nitto Avecia Pharma Services Inc., Piramal Pharma Solutions Inc., Siegfried Holding AG, Sterling Biotech Limited, Therapure Biopharma Inc., Velesco Pharmaceutical Services, WuXi PharmaTech (Cayman) Inc.
The contract development manufacturing organizations market report table of contents includes:
1. Executive Summary
2. Contract Development Manufacturing Organizations Market Characteristics
3. Contract Development Manufacturing Organizations Market Trends And Strategies
4. Contract Development Manufacturing Organizations Market – Macro Economic Scenario
5. Global Contract Development Manufacturing Organizations Market Size and Growth
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26. South America Contract Development Manufacturing Organizations Market
27. Brazil Contract Development Manufacturing Organizations Market
28. Middle East Contract Development Manufacturing Organizations Market
29. Africa Contract Development Manufacturing Organizations Market
30. Contract Development Manufacturing Organizations Market Competitive Landscape And Company Profiles
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