Contract Development and Manufacturing Organization (CDMO) Market
Number of pages: 100 | Report Format: PDF | Published date: January 17, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 158.2 billion |
|
Revenue forecast in 2030 |
US$ 333.85 billion |
|
Growth Rate |
8.65% from 2022 to 2030 |
|
Base Year for Estimation |
2021 |
|
Forecast period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Service and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global contract development and manufacturing organization (CDMO) market was valued at US$ 158.2 billion in 2021 and is expected to register a revenue CAGR of 8.65% to reach US$ 333.85 billion by 2030.
Contract Development and Manufacturing Organization (CDMO) Market Fundamentals
Pharmaceutical contract development and manufacturing organization, or CDMO, refers to a company specialized in offering varied services, such as research, drug development and manufacturing, and pharmaceutical packaging, with complete trust and transparency. Pre-formulation, formulation development, stability studies, method development, pre-clinical and Phase I clinical study materials, late-stage clinical trial materials, formal stability, scale-up, registration batches, and commercial manufacturing are some of the contract services provided by fully integrated CDMOs.
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Contract Development and Manufacturing Organization (CDMO) Market Dynamics
The global contract development and manufacturing organization (CDMO) market is expected to register revenue growth at a higher CAGR during the forecast period owing to increasing demand for pharmaceuticals, biologics, and biosimilars. Additionally, rising drug patent expiration and growing demand for generics are contributing to the revenue growth of the global market. Moreover, rising prevalence of chronic and infectious diseases, growing investment in R&D activities, and the emerging pharmaceutical industry are fueling the global contract development and manufacturing organization (CDMO) market. Furthermore, strategic acquisitions and mergers among key players and cost optimization for manufacturing are also boosting revenue growth in the global contract development and manufacturing organization (CDMO) market.
However, stringent regulations and high investments required for the plant setups are likely to restrain the revenue growth of the global contract development and manufacturing organization (CDMO) market in the next few years.
Contract Development and Manufacturing Organization (CDMO) Market Ecosystem
The global contract development and manufacturing organization (CDMO) market is analyzed based on two parameters: service and region.
Contract Development and Manufacturing Organization (CDMO) Market by Service
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Based on the service, the global contract development and manufacturing organization (CDMO) market is segmented into contract manufacturing organization (CMO) and contract research organization (CRO).
The contract manufacturing organization (CMO) is sub-segmented into API manufacturing, finished product manufacturing, and packaging. The API manufacturing segment dominates the global contract development and manufacturing organization (CDMO) market in terms of revenue share, owing to growing demand for innovative APIs, rise in the trend of adopting new advanced therapies, increase in the usage of novel drug delivery systems, and rise in demand for personalized medications.
Contract Development and Manufacturing Organization (CDMO) Market by Region
Based on the region, the global contract development and manufacturing organization (CDMO) market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
North America dominates the global contract development and manufacturing organization (CDMO) market in terms of revenue share owing to the presence of a significant number of key players and increase in demand for pharmaceutical and biopharmaceutical drugs. Additionally, developed infrastructure and advanced healthcare systems are also contributing to the revenue growth of the North America contract development and manufacturing organization (CDMO) market.
The market in Asia Pacific is expected to show substantial revenue growth in the upcoming years owing to low manufacturing costs, availability of skilled labor, and government subsidies.
Contract Development and Manufacturing Organization (CDMO) Market Competitive Landscape
The prominent players operating in the global contract development and manufacturing organization (CDMO) market are:
Recent Developments
North America and Asia Pacific account for the highest revenue share of the global contract development and manufacturing organization (CDMO) market.
Rising prevalence of chronic and infectious diseases, increasing demand for pharmaceutical products, growing investments in R&D activities, rising demand for generic drugs, patent expiries, cost optimization, and strategic acquisitions are the key driving factors for the global contract development and manufacturing organization (CDMO) market revenue growth.
The expected revenue CAGR for the global contract development and manufacturing organization (CDMO) market is 8.65% during the forecast period from 2022 to 2030.
The global contract development and manufacturing organization (CDMO) market is expected to reach US$ 333.85 million in 2030.
Catalent Inc, Baxter International Inc, Vetter, AbbVie Inc, and Recipharm AB are among the key players operating in the global contract development and manufacturing organization (CDMO) market.
*Insights on financial performance are subject to the availability of information in the public domains*