Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market Expansion 2024-2033: Growth Drivers and Dynamics

Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The topical drugs contract development and manufacturing organization (CDMO) market size has grown rapidly in recent years. It will grow from $45.47 billion in 2023 to $52.9 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%.  The growth in the historic period can be attributed to chronic disease prevalence, advanced drug delivery technologies, cost-efficient outsourcing, regulatory demands, and growth in dermatology and cosmetics.

The topical drugs contract development and manufacturing organization (CDMO) market size is expected to see rapid growth in the next few years. It will grow to $97.26 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%.  The growth in the forecast period can be attributed to personalized medicine, biologics expansion, increased R and D investments, rising skin disorder prevalence, and advanced manufacturing technologies. Major trends in the forecast period include increasing demand for innovative formulations, advancements in drug delivery technologies, rising investment in dermatological research, a surge in outsourcing by pharmaceutical companies, a focus on personalized medicine, stringent regulatory requirements necessitating specialized expertise, and the growing consumer preference for over-the-counter (OTC) skincare products.

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Scope Of Topical Drugs Contract Development And Manufacturing Organization (CDMO) MarketThe Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market Overview

Market Drivers –
The increasing prevalence of skin diseases is expected to propel the growth of the topical drugs contract development and manufacturing organization (CDMO) market going forward. Skin diseases refer to medical conditions that affect the skin, causing symptoms such as inflammation, itching, and lesions. The increasing prevalence of skin diseases can be attributed to factors such as environmental pollution, UV radiation exposure, genetic predisposition, lifestyle changes, and microbial infections. Topical drugs contract development and manufacturing organization (CDMO) helps reduce skin disease prevalence by developing and manufacturing targeted therapies that improve the management and treatment of dermatological conditions. For instance, in January 2024, according to Cancer Australia, an Australian-based cancer control agency, Australia saw a significant increase in skin melanoma cases between 2019 and 2023, with numbers rising from 15,628 to 18,257. Furthermore, in 2019, males had 9,134 cases compared to 6,494 females, while by 2023, the proportions had risen to 10,639 males and 7,618 females. Therefore, the increasing prevalence of skin diseases is driving the growth of the topical drugs contract development and manufacturing organization (CDMO) market.

Market Trends –
Major companies operating in the topical drugs contract development and manufacturing organization (CDMO) market are focused on developing state-of-the-art manufacturing facilities to sustain their position in the market. A state-of-the-art manufacturing facility is a specialized production site equipped with the latest technology and advanced processes tailored for the development and manufacturing of topical pharmaceutical products. For instance, in November 2023, SOHM Inc., a US-based pharmaceutical company, launched a CDMO GMP manufacturing facility. The new Carlsbad facility will offer ample space for manufacturing topical products and SOHM’s operations, with 2,500 square feet dedicated to storing finished products. Initially, it will have a daily capacity of 500 gallons (1,892 liters) for manufacturing topicals. By the end of Q1 2024 or the start of Q2 2024, it is expected to expand its capacity to include soft-gel suppositories.

The topical drugs contract development and manufacturing organization (CDMO) market covered in this report is segmented –

1) By Product Type: Semi-Solid Formulations, Liquid Formulations Drugs, Solid Formulations, Transdermal Products

2) By Service Type: Contract Development, Contract Manufacturing

3) By Therapeutic Area: Dermatology, Pain Management, Wound Care, Ophthalmology, Other Therapeutic Areas

4) By End-Use: Pharmaceutical Companies, Biopharmaceutical Companies, Other End-Uses

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Regional Insights –
Asia-Pacific was the largest region in the topical drugs contract development and manufacturing organization (CDMO) market in 2023. The regions covered in the topical drugs contract development and manufacturing organization (CDMO) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies –
Major companies operating in the topical drugs contract development and manufacturing organization (CDMO) market are Evonik Industries AG, Eurofins Scientific SE, SGS SA, The Lubrizol Corporation, Lonza Group AG, Catalent Inc., Bora Pharmaceuticals Co. Ltd., Recipharm AB, Pierre Fabre S.A., Piramal Pharma Solutions, Cambrex Corporation, LTS Lohmann Therapie-Systeme AG, PCI Pharma Services, Famar S.A., Contract Pharmaceuticals Limited, UPM Pharmaceuticals Inc., CoreRx Inc., Halo Pharmaceutical Inc., Tapemark Company, Groupe PARIMA Inc., MedPharm Ltd, Tergus Pharma LLC, Dow Development Laboratories LLC, NextPharma Technologies Holding Limited, Tedor Pharma Inc.

Table of Contents 1. Executive Summary2. Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market Report Structure3. Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market Trends And Strategies4. Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market – Macro Economic Scenario5. Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market Size And Growth…..27. Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis
30. Appendix

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