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The new and innovative solutions for pharmaceutical companies are driving the CDMO market worldwide CDMOs have been investing in the infrastructure and technology to better serve their facilities. The CDMO can enhance the efficiency of drug making and their marketing. The growth of molecular therapies, specialty medicines and biologics will boost the CDMO sector. The time for procedure for government approval for drug usage is also shortened with the help of CDMO capabilities which is further propelling the market.
The API manufacturing segment of the CDMO segments based on CMO is expected to hold one of the largest market shares owing to their increasing adopting in diverse treatment methodologies such as biologics. The finished product manufacturing segment will also witness significant growth because of the increasing demand from pharmaceutical sector to reduce the cost of final drugs. In the CRO type segment, clinical services will dominate the market because of the rise in new products making and research for effective therapies.
The global contract development and manufacturing organization (CDMO) is a fragmented market with many large and small enterprises competing with each other. The pharmaceutical and biotech companies of diverse scales are collaborating and merging to provide better services in a cost-effective manner. Recipharm AB (NASDAQ: RECI B), one of the key players in CDMO industry signed a contract with Enzymatica, a Swedish life company for healthcare products, for the manufacturing of a product ColdZyme. ColdZyme is a mouth spray developed by Enzymatica for the treatment of common cold. This will help in meeting the increasing demand for such pharmaceutical products.
Market Analysis by Service Offered, CMO, CRO and Regions:
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The major players in the global CDMO market are Catalent, Inc, Boehringer Ingelheim International GmbH, Recipharm AB, Albany Molecular Research Inc., Pfizer Inc and Jubilant Life Sciences Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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