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Description
Pharmaceutical Contract Development And Manufacturing Organization Market size was valued at 92.1 billion in 2021 and is expected to reach 145.0 million by 2028, at a CAGR of 6.7% during the forecast period 2022 to 2028. Some of the key factors fueling the market growth include increasing investments in pharmaceutical R&D, advent of CDMO model into the outsourcing model, growing subcontracting volume by big pharmaceutical companies and rising healthcare standards in developing countries,. However, increasing lead time and logistics costs, stringent regulatory requirements and changing trade policies between countries are hindering the market growth. In addition, increasing outsourcing of clinical trials to emerging markets and growing focus on specialty medicines provides huge growth opportunity for the market. The report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global pharmaceutical contract development and manufacturing organization market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global Pharmaceutical Contract Development and Manufacturing Organization (CDMO) Market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global pharmaceutical contract development and manufacturing organization (CDMO) products.
Recent Market Developments:
In February 2022, Recipharm acquired Portuguese CDMO GenIbet, specializes in producing biological clinical trial material and other viral vectors to expand its biologics operations with a focus on drug substance production for advanced products. In December 2021, SGS acquired Quay Pharmaceuticals Limited to provide extensive range of support and services to its clients.
