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Global Contract Development and Manufacturing Organization Research Report 2024: Vendors are Anticipated to Concentrate on Offering One-Stop-Shop Services to Gain a Competitive Edge - Forecast to 2029 | ||
By: PR Newswire Association LLC. - 22 Mar 2024 | Back to overview list |
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DUBLIN, March 22, 2024 /PRNewswire/ -- The "Global Contract Development and Manufacturing Organization Market: Analysis By Type, By Product, By Sourcing, By Application, By Region, Size and Trends with Impact of COVID-19 and Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering. The global contract development and manufacturing organization (CDMO) market was valued at US$124.38 billion in 2023, and is expected to be worth US$256.90 billion in 2029. Post-millennium, the biopharmaceutical sector has advanced significantly, witnessing the development of novel drugs and blockbuster medications. The "contract development manufacturing organization (CDMO)" model has emerged in response to growing demand. CDMOs, third-party providers, specialize in developing and manufacturing production processes for pharmaceutical firms, offering support throughout the drug-making journey. These entities, primarily focused on active pharmaceutical ingredient (API) manufacturing, have surged in the past decade due to mergers and acquisitions. While larger pharmaceuticals may opt for in-house capacities, smaller firms prefer CDMO outsourcing, reducing investment risks and providing access to specialized expertise. This trend enhances the efficiency and success of drug development endeavors. The growing importance of specialized services, spanning early-stage development to commercial manufacturing, underscores the expanding role of CDMOs in the entire drug development lifecycle. Furthermore, the emphasis on flexible and scalable manufacturing processes, coupled with advancements in digital technologies and data analytics, is shaping the future landscape of the CDMO market, offering efficiency and adaptability in meeting diverse and complex pharmaceutical requirements. The global CDMO market is expected to grow at a CAGR of 12.85% over the years 2024-2029. Asian CDMOs are strategically expanding their capacities, becoming pivotal in global pharmaceutical and biotechnology sectors. This growth responds to escalating demand for manufacturing services in drug development and production. Companies in China, India, and South Korea are fortifying their capabilities to serve clients worldwide. Through investments in cutting-edge facilities, advanced technologies, and workforce training, the Asian CDMOs aim to augment production capacity, flexibility, and efficiency. Historically, the industry has faced excess demand, attributed to robust development pipelines and challenges in scaling capacity. More recently, Biologics CDMO companies (particularly Samsung Biologics and Wuxi Biologics) have been seen investing in massive production capacity expansion projects. Competitive Landscape: Players in the market are adopting strategies such as partnerships, company expansions, innovations, and acquisitions to enhance their product offerings and gain sustainable competitive advantage. In June 2023, Catalent expanded the One Bio Suite solution, encompassing development, manufacturing, and supply for various biotechnological modalities, such as antibodies, recombinant proteins, cellular and gene therapy, and mRNA. Impact Analysis of COVID-19 and Way Forward: Market Segmentation Insights By Type:
By Product:
By Sourcing:
By Application:
By Region:
Key Insights from Regional Analysis Asia Pacific:
North America:
Market Dynamics Growth Drivers
Challenges
Market Trends
The key players of the global CDMO market are:
For more information about this report visit https://www.researchandmarkets.com/r/me625f About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Media Contact: Research and Markets For E.S.T Office Hours Call +1-917-300-0470 U.S. Fax: 646-607-1907 Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets |
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Copyright 2024 PR Newswire Association LLC. | Back to overview list |