Blog Details

Rising Demand for Pharmaceutical Products to Drive the Global CDMO Market

Date: 21st Jan 2021 | Category: Pharma & Healthcare

The global CDMO market is estimated to reach US$241.3 billion in 2024, growing at a CAGR of 9.80% for the period spanning from 2020 to 2024. The factors such as increasing per capita disposable income, increasing global healthcare expenditure, rising aging population, increasing R&D spending, growing number of new drugs, rise in investments and strategic collaborations and growing demand for pharmaceutical products are expected to drive the market. However, growth of the industry will be challenged by stringent government regulations. A few notable trends include increasing demand for highly potent API manufacturing services, growing demand for quality by design services, growth in oncology segment, growing demand for process development CDMO services and lengthy and costly drug development process. 

The global API drug market accounted for the highest share of the market and is expected to grow in future owing to growing number of biologics APIs in pipeline stage and growing adoption of multiple of therapies. In terms of geographical areas, North America is the major contributor to the global CDMO market supported by growing collaborations and wide range of services provided by CDMOs. Asia Pacific is the fastest growing market for CDMOs owing to highly skilled workforce and low research and development cost advantage. 

Scope of the report:

• The report provides a comprehensive analysis of the global CDMO industry.

• The major regional markets (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) have been analyzed.

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

• The competitive landscape of the market, along with the company profiles of leading players are also presented in detail.

Key Target Audience:

• Contract Manufacturing Organization

• Pharmaceutical Companies

• Consulting Firms 

• Investment Banks

• Government Bodies & Regulating Authorities