What Fueled The Previous Growth In The Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market?
The topical drugs contract development and manufacturing organization (cdmo) market has seen considerable growth due to a variety of factors.
• The topical drugs contract development and manufacturing organization (CDMO) market has grown rapidly in recent years, expected to grow from $52.9 billion in 2024 to $61.69 billion in 2025, at a CAGR of 16.6%.
Contributing factors include the prevalence of chronic diseases, advancements in drug delivery technologies, cost-effective outsourcing, regulatory demands, and growth in dermatology and cosmetics.
What Is The Expected Growth In The Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market Size Evolve over the Forecast Period?
The topical drugs contract development and manufacturing organization (cdmo) market is expected to maintain its strong growth trajectory in upcoming years.
• The topical drugs contract development and manufacturing organization (CDMO) market is expected to reach $113.06 billion by 2029 at a CAGR of 16.4%.
Growth is driven by personalized medicine, biologics, increased R&D investments, and the rise in skin disorders. Trends include increased demand for innovative formulations, advances in drug delivery technologies, outsourcing by pharmaceutical companies, and a focus on over-the-counter skincare products.
What Main Forces Are Fueling Expansion In The Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market?
The escalating rate of skin conditions is anticipated to boost the expansion of the topical drugs contract development and manufacturing organization (CDMO) market in the future. This term, skin diseases, encompasses any medical issues impacting the skin, contributing to inflammation, itching, and sores. The rise in skin-related conditions can be traced back to several factors, including environmental contamination, exposure to UV radiation, genes, lifestyle alterations, and being infected with microbes. The role of the topical drugs contract development and manufacturing organization (CDMO) in addressing skin conditions lies in creating and producing tailored therapies that enhance the control and cure of dermatological issues efficiently. Notably, Cancer Australia, a cancer control institution based in Australia, observed a considerable rise in skin melanoma instances from 2019 to 2023, with cases jumping from 15,628 to 18,257 as per their January 2024 report. Moreover, 2019 reports showed that 9,134 cases were men as opposed to 6,494 women, but by 2023, the proportions had increased to 10,639 men and 7,618 women respectively. Thus, the soaring rate of skin conditions is fueling the expansion of the topical drugs contract development and manufacturing organization (CDMO) market.
What Are The Primary Segments In The Global Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market?
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
Subsegments:
1) By Semi-Solid Formulations: Creams, Ointments, Gels, Pastes
2) By Liquid Formulations Drugs: Solutions, Suspensions, Emulsions, Lotions
3) By Solid Formulations: Powders, Tablets
4) By Transdermal Products: Patches
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What Trends Are Shaping The Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market?
Key players in the contract development and manufacturing organization (CDMO) market for topical drugs are constantly striving to establish cutting-edge manufacturing facilities that help them maintain their market position. These modern manufacturing sites come equipped with the latest technology and innovative processes uniquely crafted for the production and development of topical pharmaceutical goods. For instance, SOHM Inc., an American pharmaceutical company, established a CDMO GMP manufacturing facility in November 2023. This new facility, located in Carlsbad, provides plenty of room for producing topical products as well as accommodating SOHM's operations. In particular, it allocates 2,500 square feet for storing finished merchandise. Initially, the facility will have a daily output capacity of 500 gallons (1,892 liters) for topical manufacture. However, by the end of Q1 2024 or at the beginning of Q2 2024, it is projected to increase its production capacity to include soft-gel suppositories.
Who Are the Key Players In The Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market?
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.
What Is The Most Dominant Region In The Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market?
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.
