PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279644
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279644
Global Pharmaceutical Contract Manufacturing Organization (CMO) Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Contract manufacturing is outsourcing where a manufacturer enters a formal agreement with another manufacturing company for its parts, goods, or components. A contract manufacturing organization (CMO) is an organization that caters to the pharmaceutical sector and offers clients entire services from manufacturing to drug research. CMOs provide services ranging from drug development, manufacturing, packaging, labeling, and distribution to their clients. Pharmaceutical clients can extend their technical resources by outsourcing to a CMO without incurring more overhead. By concentrating on core capabilities and high-value projects while decreasing or not increasing infrastructure or technical people, the client may manage its internal resources and costs. The business controls internal costs and resources by concentrating on core skills and high-value initiatives while decreasing or not increasing infrastructure or technical staff. The market growth is primarily driven by the factors such as surging demand for generic drugs, rising outsourcing volume by pharmaceutical companies, and increasing prevalence of various diseases.
In addition, the growing investment in research and development activities across the pharmaceutical industry is playing a significant role in market growth across the globe. As per Statista, in 2020, the total overall R&D spending in the pharmaceutical sector accounted for USD 198 billion and it is projected to reach around USD 248 billion by the year 2025. Consequentially, these aforementioned factors are propelling the market's development globally. Moreover, the rising number of government initiatives, as well as expansion in emerging countries are presenting various lucrative opportunities over the forecasting years. However, the stringent regulatory requirements and increasing lead time and logistics costs are challenging the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Pharmaceutical Contract Manufacturing Organization (CMO) Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rising number of clinical trials in the region, along with the presence of advanced manufacturing capabilities. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as favorable government policies, growing investment in R&D, as well as rising outsourcing volume by pharmaceutical companies in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable