The global CMO/CDMO Market Demand is anticipated to expand significantly, registering a CAGR of 5.7% from 2023 to 2033. In 2023, the global CMO/CDMO market is expected to be worth US$ 22.5 billion. By 2033, the market is expected to be worth US$ 39.4 billion.
As more pharmaceutical companies consider outsourcing their operations, demand for services from contract manufacturing and contract development manufacturing organizations is poised to increase. Future Market Insights (FMI) believes that the CMO/CDMO market has enormous potential for growth in the coming years. An increasing need for generic drugs and biologics is expected to propel the market growth.
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Currently, an increasing number of consumers prefer locally sourced and natural products over big brands. This will necessitate cutting-edge technology as well as other resources.
Key Takeaways:
- Over the historical period, the worldwide market grew at a CAGR of 5.3%.
- The Indian market is expected to expand at a CAGR of 5% in the coming decades.
- In 2022, North America had a share of the global revenue of more than 17.6%.
- Over the next few decades, the Chinese market is expected to grow at a CAGR of 5%.
- In 2022, the contract manufacturing segment held 69.28% of the market.
“The growing trend towards private-label companies has created numerous opportunities for CMO/CDMOs. Customer tastes have shifted lately increasing demand for private-label companies, which is anticipated to present opportunities for CMOs shortly. The shift is primarily due to price, accessibility, variety, and consumer feedback,” says an FMI analyst.
Competitive Landscape
The vendor landscape in the CMO/CDMO market is consolidated. There is a continuing need for research and development, which is still a key strategy among market players. Strategic collaborations are another common strategy used to gain a competitive advantage
- An authorization and distribution consent revision between Societal CDMO and Lannett Firm for marketing Verapamil PM and Verelan SR products was executed in July 2022. Societal CDMO is a contract creation and manufacturing organization (CDMO) that emphasizes in the invention and production of small molecules. In conjunction with a ten percent spike in the earnings share portion of revenue from Verapamil PM selling, society is going to observe both instantaneous and anticipated price hikes in development.
- MilliporeSigma, Merck KGaA’s US and Canada Life Science enterprise, doubled its capability for making high-potent active pharmaceutical ingredients (HPAPI) in June 2022 with the establishment of the facility in Verona, close to Madison, WI. The $65 million, 70,000-square-foot complexes will hire 50 individuals in the community.
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Some of the companies operating in the market are:
- Swiss American CDMO
- Pierre Fabre Group
- Zymo Cosmetics
- Fareva
- Biofarma Srl C.F.
- Chemineau
- C.O.C. Farmaceutici Srl
- Paragon Nordic
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the gobal CMO/CDMO market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
Key Segments Profiled in the CMO/CDMO Market Report
By Service:
- Contract Development
- Formulation development
- Pilot studies
- Contract Manufacturing
- Bulk preparation & scale up
- Safety Testing
- Filling & Packaging
- Close jars
- Bottles
- Tubes
- Roll-ons
- Others
Product:
- Hair Products
- Skin Products
- Lip Products
- Eye Products
- Body Hygiene
- Oral Hygiene
Form:
- Solid Form & Powder
- Lotions
- Creams
- Others
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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