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Contract Development Manufacturing Organizations Global Market Report 2021: COVID-19 Growth And Change

ReportLinker
·4-min read

Major players in the contract development manufacturing organizations market are Recipharm AB. , Patheon Inc. , Boehringer Ingelheim International, Catalent Inc. , Lonza Group Ltd. , Thermo Fisher Scientific Inc.

New York, March 08, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Contract Development Manufacturing Organizations Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06033645/?utm_source=GNW
, Aenova Holding, Almac Group, Vetter, and Covance Inc.

The global contract development manufacturing organizations market is expected to grow from $158.72 billion in 2020 to $176.19 billion in 2021 at a compound annual growth rate (CAGR) of 11%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $267.74 billion in 2025 at a CAGR of 11%.

The contract development manufacturing organizations market consists of sales of small molecules and biologics products by entities (organizations, sole traders, and partnerships), which serve the pharmaceutical companies on a contract basis.The market consists of revenue generated by the CDMOs, which serve from drug development and drug manufacturing.

Only goods and services traded between entities or sold to end consumers are included.

The contract development manufacturing organizations is segmented by service into CMO, CRO; by product into small molecules, biologics and by end user into big pharma, small and mid-size pharma, generic pharmaceutical companies, other end users.

North America was the largest region in contract development manufacturing organizations market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Stringent government regulations in the drug approval process may restrict the growth of the contract development manufacturing organizations market.Several governments across the globe are enforcing controls on pharmaceutical firms to safeguard the population from adverse drug effects.

These regulations further delay the process of introducing innovative pharmaceuticals onto the marketplace.For instance, on average, it requires at least ten years for a new drug to finish the process from the early creation to the marketplace, with clinical studies itself lasting six to seven years on average.

According to data from PhRMA in 2020, the average chance of clinical success (the possibility that a drug undergoing clinical trials will finally be accepted) is calculated to be less than 12%. Therefore, the stringent government regulations are projected to impede the growth of the contract development manufacturing organizations market over coming years.

In May 2019, Catalent, a US-based provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products acquired Paragon Bioservices, Inc. for $1.2 billion. Through this acquisition Paragon Bioservices, Inc brings its unique and differentiated scientific, development, and manufacturing capabilities to Catalent, which will fundamentally enhance Catalent’s biologics business and end-to-end integrated biopharmaceutical solutions for customers. Paragon Bioservices, Inc. is a US-based contract development and manufacturing organization (CDMO) whose focus is the development and manufacturing of cutting-edge biopharmaceuticals.

The growing demand for pharmaceutical products due to the increase in the chronic diseases and geriatric population contributed to the growth of the contract development manufacturing organizations market.Rising chronic diseases and geriatric population has enabled pharmaceutical companies to manufacture biologics and biosimilars quickly, and most pharmaceutical firms have contracted contract production and manufacturing organizations operating on a contractual basis to handle and coordinate the company’s tasks, operations and tests.

For instance, according to the World Health Organization, the prevalence of chronic diseases rose by 57% in 2020 and by 2050 the world’s population of 60 years and older is projected to rise to 2 billion. Therefore, the growing demand for pharmaceutical products is projected to drive the growth of the contract development manufacturing organizations market.

The introduction of custom solutions is a key trend gaining the popularity in the contract development manufacturing organizations market.Contract development manufacturing companies focused on the implementation of custom technologies to address the unique needs of individual research applications.

For instance, in April 2019, Lonza Group AG, a Switzerland based chemicals and biotechnology company launched CellBio Services, a robust range of specific, tailored solutions built to address the particular requirements of individual research applications. With Lonza’s CellBio Services, pharmaceutical and CMO researchers can benefit from a wide range of services such as cell isolation, transfection services, media processing, 3D cell-culture services, cell characterization, cell-line advancement and banking.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06033645/?utm_source=GNW

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