Global Contract Development & Manufacturing Organization Market: Insights & Forecast (2023-2027)

DELHI, India - July 26, 2023 - PRLog -- The global CDMO market is estimated to reach US$269.54 billion in 2027, growing at a CAGR of 9.32%, for the period spanning 2023-2027. The factors such as increasing per capita disposable income, increasing global healthcare expenditure, rising aging population, increasing R&D spending, growing number of new drugs, rise in investments and strategic collaborations and growing demand for pharmaceutical products are expected to drive the market. However, growth of the industry will be challenged by stringent government regulations. A few notable trends include increasing demand for highly potent API manufacturing services, growing demand for quality by design services, growth in oncology segment, growing demand for process development CDMO services and lengthy and costly drug development process.

In terms of services, the global API drug market accounted for the highest share of the market and is expected to grow in future owing to growing number of biologics APIs in pipeline stage and growing adoption of multiple of therapies. Whereas on the basis of product, small molecule drugs held a major share of the market owing to the surge in the pharmaceutical R&D activities worldwide.

In terms of geographical areas, North America is the major contributor to the global CDMO market supported by growing collaborations and wide range of services provided by CDMOs. Asia Pacific is the fastest growing market for CDMOs owing to highly skilled workforce and low research and development cost advantage.

Scope of the report:

The report provides a comprehensive analysis of the global CDMO industry.

The major regional markets (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) have been analyzed.

The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.

The company profiles of leading players (Catalent, Inc., Recipharm AB, Evotec SE, Lonza Group AG, Biomerieux SA and Thermo Fisher Scientific Inc.) are also presented in detail.

For more Information:

https://www.konceptanalytics.com/report/pharma-healthcare/global-contract-development-manufacturing-organization-cdmo-market-insights-forecast-with-potential-impact-of-covid-19-2023-2027

Koncept Analytics

Vikas Gupta

(Business Development Manager)

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Tele: +91-120-4130959

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Mail ID – vikas@konceptanalytics.com