Pharmaceutical CDMO Market is anticipated to grow at a CAGR of 7.50% from 2022 to 2028 globally - Axiom MRC
Pharmaceutical CDMO Market is anticipated to grow at a CAGR of 7.50% from 2022 to 2028 globally - Axiom MRC
Date: February 2022
New York, January 2022: Axiom Market Research & Consulting™ added a report on Pharmaceutical CDMO Market which includes study on service, research phase, and geography. Pharmaceutical CDMO Market was projected to grow at a CAGR of 7.50% for the forecast period 2022 to 2028. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the Pharmaceutical CDMO Market.
The factors such as providing entire services to the pharmaceutical sector, starting from the medication discovery to manufactures, the client also extend their technical resources by the process of outsourcing to a CMO with incurring any additional costs, the help provided by the pharmaceutical CDMO market for focusing on the core competencies and high vale projects for the purpose of manufacturing along with decreasing the infrastructure and technical staff, which may help the customers for managing the expenditure and internal sources have been driving the growth of the pharmaceutical CDMO market during the forecast period.
The report analyses the pharmaceutical CDMO market based on the service, research phase and geography. By service, the pharmaceutical CDMO market is segmented into active pharmaceutical ingredient (api) manufacturing, finished dosage formulation (FDF) development & manufacturing, and secondary packaging. By research phase, the pharmaceutical CDMO market is segmented into Pre-clinical, Phase I, Phase II, Phase III and Phase IV. Geographically, the pharmaceutical CDMO market is studied for the regions including North America, Europe, Asia Pacific, and Rest of the World.
Active pharmaceutical ingredient (API) service segment is dominating the pharmaceutical CDMO market
The increasing number of the biologics API in the pipeline stage along with the growing adoption of the API biologics into the multitude therapies has been the most important driving factors responsible for the growth of the segment in the pharmaceutical CDMO market during the forecast period.
The Pre-clinical research phase segment is expected to witness increasing demand in the pharmaceutical CDMO market
The increasing collaboration among the pharmaceutical companies, along with increasing research development for the purpose of outsourcing of the clinical trials and the increasing collaboration among the CDMO for providing the innovative solution have been driving the growth of the segment in the pharmaceutical CDMO market during the forecast period.
North America is expected to gain major market share in the pharmaceutical CDMO market
The presence of the countries like the United States, Mexico and Canada has been the biggest contributor to region of North America in the market in terms of the geographical areas, along with the increasing partnerships, vast range of the services supplied to the CDMOs, highly qualified workforce and low costs for the research and development has been contributing to the growth of the pharmaceutical CDMO market in the region during the forecast period.
Key Players
The key players in the pharmaceutical CDMO market are Catalent Inc., Recipharm AB, Jubilant Life Sciences Ltd, Patheon Inc., Boehringer Ingelheim Group, Pfizer CentreSource, Aenova Holding GmbH, Famar SA, Baxter Biopharma Solutions, Lonza Group, CMIC Holdings Co. Ltd, Covance Inc., Syneos Health Inc., LSK Global Pharma Service Co. Ltd, Novotech Pty Ltd, PAREXEL International Corporation, Pharmaceutical Product Development LLC, PRA Health Sciences Inc., Quanticate Ltd.