Global Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
16 Nov, 2021
The pharmaceutical contract development and manufacturing market consists of sales of pharmaceutical contract development and manufacturing products and related services. Some pharmaceutical companies outsource the manufacturing of products on contracts to focus on the R&D, marketing and branding of their products. The pharmaceutical contract development and manufacturing market consists of manufacturing firms who manufacture drugs and other pharmaceutical products for other pharmaceutical companies on contractual basis.
Global Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market Size And Drivers:
The global pharmaceutical contract development and manufacturing organization market is expected to grow from $97.38 billion in 2020 to $103.24 billion in 2021 at a compound annual growth rate (CAGR) of 6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The pharmaceutical contract development and manufacturing market is expected to reach $149.44 billion in 2025 at a CAGR of 9.7%. The growth of the pharmaceutical contract development and manufacturing market is driven by the increase in the demand for medicines across the globe.
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Trends In The Global Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market
The companies in the pharmaceutical contract development and manufacturing market are investing towards acquiring and forming alliances with other companies in the market. The pharmaceutical contract development and manufacturing companies are following the trend of merger and acquisition in order to expand their global market reach to meet the client needs, to increase their production capabilities while maintaining cost efficiencies and to get access to latest technology and new services. The high levels of merger and acquisition activities are resulting in consolidation of the contract service providers. For instance, according to a PricewaterhouseCoopers report, the largest M&A activity in the contract development and manufacturing organization sector in a span of 2017 to 2019 was the deal between Thermo Fisher Scientific and Patheon, where the former acquired the latter for $7.2 billion. Also, other important acquisitions were Thermo Fisher’s acquisition of Brammer Bio for $1.7 billion in 2019 and Carlyle’s acquisition of AMRI in 2017 for $1.5 billion.
Global Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market Segments:
The global pharmaceutical contract development and manufacturing organization market is further segmented –
By Type: Active Pharmaceutical Ingredient (API) Manufacturing, Finished Dosage Formulation (FDF) Development And Manufacturing, Secondary Packaging
By Research Phase: Preclinical, Phase I, Phase II, Phase III, Phase IV
By Geography: The global pharmaceutical CMO market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market At:
https://www.thebusinessresearchcompany.com/report/pharmaceutical-contract-development-and-manufacturing-organization-cmo-market-global-report-2020-30-covid-19-impact-and-recoveryPharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides pharmaceutical contract development and manufacturing organization (CMO) market overviews, analyzes and forecasts market size and growth for the global pharmaceutical contract development and manufacturing organization (CMO) market, pharmaceutical contract development and manufacturing organization (CMO) market share, pharmaceutical contract development and manufacturing organization (CMO) market players, pharmaceutical contract development and manufacturing organization (CMO) market segments and geographies, pharmaceutical contract development and manufacturing organization (CMO) market’s leading competitors’ revenues, profiles and market shares. The pharmaceutical contract development and manufacturing organization (CMO) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.