Global Healthcare CMO Market (by Type, & Region): Insights and Forecast COVID-19 Impact (2022-2027)

DELHI, India - Oct. 26, 2023 - PRLog -- Healthcare CMOs, or healthcare contract manufacturing organizations, are businesses that provide complete services such as medication research and manufacture under a legal contract for a particular period of time.

A Contract Manufacturing Organization (CMO) in the healthcare business provides services to pharmaceutical firms, hospitals, and others. Among the services offered are pre-formulation, formulation development, stability studies, method development, pre-clinical and Phase I clinical trial materials, and late-stage clinical trial materials. The global healthcare CMO market is expected to be worth US$145.70 billion in 2023, witnessing growth at a CAGR of 12.12%, during the forecasted period.

Top Impacting Factors:

Growth Drivers

• Surging Geriatric Population
• Increasing Spread of Chronic Diseases
• Escalating Demand for Generic Drugs        
• Increasing Demand for Active Pharmaceutical Ingredient (API)        

Challenges

• Rapid Technological Advancements
• Dependent on Patents, Copyrights, Trademarks and Trade Secrets          

Trends

• Escalating Role of Artificial Intelligence Technology
• Evolution of Advanced Respiratory Equipment          

Analysis of Key Players:

Global healthcare CMO market is moderately consolidated. Strategic collaborations are another common strategy used to gain a competitive advantage. For example, Catalent entered into an agreement with Zumutor Biologics Inc., in February 2020, to produce Zumutor's ZM008 to treat solid tumours. The key players in the global healthcare CMO market are:

• Samsung Biologics Co. Ltd.
• Boehringer Ingelheim GmbH
• Koninklijke DSM N.V. (Royal DSM)
• Thermo Fisher Scientific Inc.
• Catalent Pharma Solutions, Inc.
• Integer Holdings Corporation
• Piramal Enterprises Limited
• Lonza Group AG
• Aurobindo Pharma Limited
• Symbiosis Pharmaceutical Services
• Fareva Group
• Recipharm AB

The key players in the healthcare CMO market provides a detailed competitive landscape and focus on launching novel products with the necessary approvals. There is a continuing need for research and development, which is still a key strategy among market players. These major players have been implementing novel strategies to expand market prospects in the coming years. In April 2021, Thermo Fisher Scientific announced the acquisition of PPD, Inc., global provider of pharmaceutical manufacturing and clinical research services to the biotech industry. This would improve the company's market position by increasing their manufacturing capacity and customer base. In May 2021, Samsung Biologics and Moderna Inc. announced a collaboration to provide fill and finish services for Moderna's COVID-19 Vaccine.

For more Information:

https://www.konceptanalytics.com/report/pharma-healthcare/global-healthcare-cmo-market-by-type-region-insights-and-forecast-with-potential-impact-of-covid-19-2022-2027

Koncept Analytics

Vikas Gupta

(Business Development Manager)

FFCS-36, Ansal Plaza

Vaishali, Ghaziabad

U.P - 201010

Tele: +91-120-4130959

Mobile: +91-8700242734

Mail ID – vikas@konceptanalytics.com