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Global Contract Development and Manufacturing Organization (CDMO) Market to Grow at a CAGR of 8% During 2021-2026, Aided by Increasing Technology and Innovations

According to a new report by EMR titled, ‘Global Contract Development and Manufacturing Organization (CDMO) Market Report and Forecast 2021-2026’, The market attained a value of USD 163 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 8% to reach USD 262 billion by 2026.

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:

  • The CDMO offers the CMO and CRO services.
  • The industry is classified on the basis of CMO into API manufacturing, finished product manufacturing and packing among others. Finished product manufacturing can be further divided into solid, liquid, and injectable.
  • On the basis of CRO, market is segmented into clinical, discovery, preclinical and laboratory services. The clinical segment is further segmented into Phase I, Phase II, Phase III and Phase IV. The laboratory services segment is also subdivided into bioanalytical services and analytical services.
  • The regional markets for CDMO include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising technological capabilities of CDMO is driving the market demand.
  • The increasing population and prevalence of diseases will augment the demand for CDMO.
  • The economic development and growing importance of healthcare will propel the CRMO industry growth.
  • New therapies like molecular gene and nuclear medicines will boost the demand for CDMO.
  • The increasing collaboration between the pharma and biotech firms will provide thrust to the demand for CDMO industry.

Key Offerings of the report:

  • The EMR report gives an overview of the global contract development and manufacturing organization (CDMO) market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecasted (2021-2026) markets for the services, CMO, CRO and major regions of contract development and manufacturing organization industry. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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