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Global Healthcare CMO Market Report 2022: Escalating Demand for Generic Drugs Boosting Sector

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Dublin, Nov. 01, 2022 (GLOBE NEWSWIRE) -- The "Global Healthcare CMO Market: Analysis By Type (Pharmaceutical and Medical Device), By Region (North America, Europe, Asia Pacific, ROW), Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.

The global healthcare CMO market was valued at US$115.90 billion in 2021, and is predicted to grow to US$230.24 billion in 2027. Healthcare CMOs, or healthcare contract manufacturing organizations, are companies that provide comprehensive services such as drug development and manufacturing for a set period of time under a legal contract.

In the healthcare industry, a Contract Manufacturing Organization (CMO) provides services to pharmaceutical companies, hospitals, and others. Pre-formulation, formulation development, stability studies, method development, pre-clinical and Phase I clinical trial materials, and late-stage clinical trial materials are among the services provided. The global healthcare CMO market is determined to grow at a CAGR of 12.12% over the forecasted period of 2022-2027.

Market Segmentation Analysis:

-By Type: The report identifies two segments on the basis of type: Pharmaceutical and Medical Device. Pharmaceutical CMO segment is further divided into two segment on the basis of service: Active Pharmaceutical Ingredients (API) and Others. The device manufacturing segment is expected to grow at the fastest rate in the market during the forecast period, with a CAGR of 13%, owing to increasing outsourcing of device manufacturing due to a lack of in-house manufacturing facilities and complexity.

By Region: In the report, the global healthcare CMO market is divided into four regions: North America, Europe, Asia Pacific, and ROW. North America accounted for the maximum share of more than 37% of the global market in 2021. The market in North America is being driven by the region's increased emphasis on drug discovery and manufacturing outsourcing. The region is increasing its use of scientific exploration of disease mechanisms leading to the discovery and development of agents. Pre-clinical testing is an important stage in pharmaceutical research. At this stage, several tests are performed to determine whether a drug is ready for clinical trials

Market Dynamics:

Growth Drivers

  • Surging Geriatric Population

  • Rising Healthcare Expenditure

  • Increasing Spread of Chronic Diseases

  • Escalating Demand for Generic Drugs

  • Growing Inclination Towards Herbal Products

  • Increasing Demand for Active Pharmaceutical Ingredient (API)

Challenges

  • Rapid Technological Advancements

  • Dependent on Patents, Copyrights, Trademarks and Trade Secrets

Market Trends

  • Escalating Role of Artificial Intelligence Technology

  • Evolution of Advanced Respiratory Equipment

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Global Market Analysis

4. Regional Market Analysis

5. Impact of Covid-19

6. Market Dynamics

7. Competitive Landscape

8. Company Profiles

Companies Mentioned

  • Catalent Pharma Solutions, Inc.

  • Samsung Biologics Co. Ltd.

  • Aurobindo Pharma Limited

  • Boehringer Ingelheim GmbH

  • Integer Holdings Corporation

  • Piramal Enterprises Limited

  • Lonza Group AG

  • Koninklijke DSM N.V. (Royal DSM)

  • Thermo Fisher Scientific Inc.

  • Recipharm AB

  • Fareva Group

  • Symbiosis Pharmaceutical Services

For more information about this report visit https://www.researchandmarkets.com/r/gzgml7

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