The global healthcare Cmo market is estimated to be valued at US$ 440.5 Mn in 2023 and is expected to exhibit a CAGR of 16. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Contract manufacturing organizations help healthcare companies by providing comprehensive and flexible solutions for manufacturing pharmaceutical drugs and medical devices. They assist with manufacturing processes involving biologics, small molecules, and cell and gene therapies to help drug developers move at the speed of science.
Market key trends:
As such, contract manufacturing organizations play a key role in the development and commercialization of cell therapies by providing expertise, specialized facilities, and quality control. CMOs help sponsors avoid large upfront capital expenditures for advanced cell therapy manufacturing infrastructure and provide resources to help optimize processes and boost production yields. Increasing number of cell therapy clinical trials and new product approvals are driving significant demand for CMO services specialized in cell therapy manufacturing. Additionally, the growing demand for CAR-T therapies to treat cancer is another major factor fueling the fastest growth of cell therapies segment in the Global Healthcare CMO Market Size.
Segment Analysis
The global healthcare CMO market can be segmented based on type, service, and therapeutic area. By type, the manufacturing segment dominates and is expected to continue its dominance over the forecast period. Manufacturing services account for the majority share of the overall healthcare CMO market as most sponsors outsource non-core production activities to contract manufacturing organizations. By service, the pharmaceutical contract manufacturing and biologics contract manufacturing sub-segments dominate. The demand for pharmaceutical and biologics manufacturing is high due to the complex nature of production processes involved for pharmaceuticals and biologics. By therapeutic area, oncology dominated the market in 2022 due to high demand for oncology drugs and biologics to treat cancer.
Key Takeaways
The global healthcare CMO market is expected to witness high growth, exhibiting CAGR of 16% over the forecast period, due to increasing demand for outsourcing of manufacturing services from pharmaceutical and biotechnology companies. This is allowing sponsors to focus on core activities like research & development and commercialization.
Regional analysis –
North America dominates the global healthcare CMO market and is expected to continue its dominance during the forecast period. This is attributed to the presence of major players, high outsourcing of manufacturing activities due to streamlining of operations, and growing demand for generic drugs in the US. Asia Pacific is expected to witness the highest growth due to low-cost operations, increasing investments by pharmaceutical companies to expand outsourcing facilities, and growing expertise.
Key players - Key players operating in the healthcare CMO market are Accellent, Inc., Boehringer Ingelheim GmbH, Catalent Pharma Solutions, Inc., DSM, Fareva, Greatbatch, Inc., Lonza Group, Patheon, Inc. (Thermo Fisher Scientific Inc.), Piramal Healthcare, Binex, Cytovance Biologics, Emergent BioSolutions Inc., MilliporeSigma, Symbiosis Pharmaceutical Services, Albany Molecular Research Inc., Samsung Biologics, and Symmetry Medical, Inc. Players are focusing on expanding their manufacturing capacity and capabilities through mergers & acquisitions to meet the growing demand from clients.
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