Global Contract Development and Manufacturing Organization (CDMO) Outsourcing Market

Contract Development And Manufacturing Organization (CDMO) Outsourcing Market Size, Share, Growth Analysis, By Service(Contract Manufacturing Organization (CMO), Contract Research Organization (CRO) Services) - Industry Forecast 2024-2031

Report ID: SQSG35J2008 | Region: Global | Published Date: February, 2024
Pages: 283 | Tables: 35 | Figures: 74

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Contract Development And Manufacturing Organization (CDMO) Outsourcing Market size was valued at USD 217.6 billion in 2019 and is poised to grow from USD 237.62 billion in 2023 to USD 524.67 billion by 2031, growing at a CAGR of 9.2% in the forecast period (2024-2031).

contract development and manufacturing organization (CDMO) outsourcing market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. 'Lonza Group Ltd.', 'Catalent, Inc.', 'Thermo Fisher Scientific, Inc.', 'Patheon N.V. (a part of Thermo Fisher Scientific, Inc.)', 'Cambrex Corporation', 'Recipharm AB', 'Fujifilm Holdings Corporation', 'Samsung Biologics Co., Ltd.', 'WuXi AppTec Co., Ltd.', 'Boehringer Ingelheim GmbH', 'Evonik Industries AG', 'Vetter Pharma International GmbH', 'AbbVie Contract Manufacturing', 'Jubilant Life Sciences Limited', 'Piramal Pharma Solutions', 'Almac Group Limited', 'Cytovance Biologics, Inc.', 'Ajinomoto Bio-Pharma Services', 'Grifols SA', 'Biocon Limited'

Owing to expanding acceptance of a westernized lifestyle, rising economic development, and rising population, the burden of chronic illnesses is rising significantly over the world. About 133 million Americans suffer from chronic illnesses, accounting for more than 40% of the nation's population and being typically incurable and continuous. It is anticipated that by 2020, there would be 157 million people worldwide, 81 million of whom will have various illnesses. Around 8% of children aged 5 to 17 reported having limited activities because of at least one chronic illness or impairment, while around 50% of adults report having a chronic condition.

Currently, the contract development and manufacturing organization outsourcing market is fragmented. The necessity for quick innovations to provide efficient process solutions to improve the drug development process has increased among pharmaceutical businesses. Many contract development and manufacturing businesses are preferring to combine with small and major pharma & biotech enterprises, along with many life-science corporations, in order to improve their service offerings.

The market in North America is distinguished by the region's long-standing CDMO presence. Along with this element, expanding partnerships between pharmaceutical firms and CDMOs providing a wide variety of services are to blame for the region's leading market share globally. The pharmaceutical business is supported by an estimated 300 pharmaceutical contract development and manufacturing companies (CDMOs). The industry is still incredibly fragmented despite rising merger and acquisition (M&A) activity; the top five CDMOs account for only 15% of the market as a whole.

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Contract Development And Manufacturing Organization (CDMO) Outsourcing Market Size, Share, Growth Analysis, By Service(Contract Manufacturing Organization (CMO), Contract Research Organization (CRO) Services) - Industry Forecast 2024-2031

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