Dublin, Sept. 20, 2021 (GLOBE NEWSWIRE) -- The "Global Healthcare Contract Development And Manufacturing Organization Market Size, Share & Trends Analysis Report by Services (Contract Development, Contract Manufacturing), by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global healthcare contract development and manufacturing organization market size is anticipated to reach USD 388.3 billion by 2028, expanding at a CAGR of 8.6%.
Increasing outsourcing of R&D is one of the major factors contributing to the market growth.
Healthcare contract development and manufacturing organization (CDMO) provides outsourcing services to various pharmaceutical industries on contract basis. Increase in the outsourcing by pharmaceutical companies, growing pharmaceutical industry, and support of CDMOs in reducing the operational and capital expenses are some of the major factors anticipated to propel market growth over the forecast period.
In addition, growing pressure on pharmaceutical and medical device companies to follow stringent timelines has increased the demand for outsourcing development and manufacturing activities to CDMOs.
Further, due to increasing demand for medical devices in the emerging countries, various companies are shifting their focus on research and development and outsourcing medical devices.
Also, rise in outsourcing of R&D and growing competency of CDMOs are expected to further contribute to the growing demand for early-stage development CDMOs by life science companies.
However, increasing logistic costs, serialization issues faced by healthcare organizations, and threat of infringement of Intellectual Property (IP) rights are anticipated to restrain the market growth for healthcare contract development & manufacturing organization over the forecast period.
Healthcare Contract Development & Manufacturing Organization Market Report Highlights
The contract manufacturing segment dominated the market with a revenue share of 72.7% in 2019 due to increase in the outsourcing of manufacturing services by pharmaceutical and medical device companies
The preclinical segment is expected to register the highest CAGR of 8.6% over the forecast period due to rising prevalence of many lifestyle-influenced diseases
North America dominated the healthcare contract development and manufacturing organization market with the largest revenue share of 41.2% in 2019 owing to the presence of large number of CROs and CMOs in the region
The Asia Pacific region is projected to witness the fastest growth during the forecast period owing to low-cost service offered by Asian CROs and CMOs
Some of the key market players are Catalent Inc.; Lonza Group Ltd.; Recipharm AB; Siegfried Holding AG; Thermo Fisher Scientific Inc.; Covance Inc.; Jabil Inc.; Sanmina Corporation; IQVIA Holdings Inc.; and Flex Ltd.
Market Driver Analysis
Increasing outsourcing services by pharmaceutical companies
Rising investment in R&D
Growing pharmaceutical industry
Increasing demand for one-stop-shop CDMOs
Market Restraint Analysis
Compliance issues while outsourcing
Changing scenarios in developing countries
Regulatory and legal compliance
Managing the relationships
Healthcare CDMO: Market Analysis Tools
Major Deals & Strategic Alliances Analysis
Mergers & Acquisitions
Lonza Group Ltd.
Siegfried Holding AG
Thermo Fisher Scientific Inc.
IQVIA Holdings Inc.
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