The global pharmaceutical contract development and manufacturing organization market size is expected to grow from $114.36 billion in 2021 to $122.31 billion in 2022 at a compound annual growth rate (CAGR) of 7%. The growth in the market 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 CMO market is expected to reach $159.94 billion in 2026 at a CAGR of 6.9%.
What is the Global Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market?
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.
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What drives the Global Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market?
The growth of the pharmaceutical contract development and manufacturing market is driven by the increase in the demand for medicines across the globe. The high prevalence of diseases and the need for a longer lifespan increased the demand for medicines pushing the pharmaceutical companies to increase the production of existing drugs and raise the investment in their R&D to promote the development of new drugs. This impels the pharmaceutical companies to collaborate with CMOs as a way to lower operational costs, thus, increasing the demand in pharmaceutical contract development and manufacturing market. According to Alkermes plc, a biopharmaceutical company indicates that pharmaceutical contract manufacturing will emerge as a strategic option for many companies ranging from very large to smaller specialty pharma entities and this mostly will happen because the pharmaceuticals companies are looking for cost cutting.
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Global Pharmaceutical Contract Development And Manufacturing Organization (CMO) Market Segments
The global pharmaceutical CMO market is 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 End-User: Big Pharmaceutical Companies, Generic Pharmaceutical Companies, Small and Medium-Sized Pharmaceutical Companies
By Geography: The regions covered in the pharmaceutical contract development and manufacturing organization (CMO) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Pharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market Report 2022provides market size and growth forecasts for the global pharmaceutical contract development and manufacturing organization market, global CMO market share, pharmaceutical contract development and manufacturing organization market segments and geographies, pharmaceutical CMO market competitive landscape including leading competitors’ revenues, profiles and market shares. The pharmaceutical contract development and manufacturing organization market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Pharmaceutical Contract Development And Manufacturing Organization (CMO) Industry Playersinclude Recipharm AB, Pfizer Inc., Boehringer Ingelheim International GmbH., Aenova Group, Famar, Jubilant Life Sciences Limited, Catalent Pharma Solutions, Chemicals Limited, Dishman Pharmaceuticals, HAUPT Pharma AG, Kemwell Pvt. Ltd., Nipro Corp., NextPharma, Royal DSM N.V, Althea Technologies, Thermo Fisher Scientific Inc., Lonza Group Ltd, AbbVie Inc., Consort Medical plc, Almac Group, Siegfried Holding AG, Evonik Industries AG and Vetter Pharma International GMBH. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
