Growth and change of COVID-19 until 2030
The leading players in the Pharmaceutical Contract Development and Manufacturing Organization (CMO) market are Recipharm AB, Pfizer Inc., Boehringer Ingelheim International GmbH. , Aenova Group, Famar, Jubilant Life Sciences Limited, Catalent Pharma Solutions, Chemicals Limited, Dishman Pharmaceuticals and HAUPT Pharma AG.
New York, September 28, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Pharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market Report 2021: COVID-19 Growth And Change To 2030” – https: // www .reportlinker.com / p06151537 /? utm_source = GNW
The global pharmaceutical contract development and manufacturing (CMO) organizations market is expected to grow from $ 97.38 billion in 2020 to $ 103.24 billion in 2021 at a compound annual growth rate (CAGR) of 6%. The growth is mainly due to companies resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges. The market is expected to reach $ 149.44 billion in 2025 at a CAGR of 9.7%.
The pharmaceutical contract development and manufacturing market includes the sale of pharmaceutical contract development and manufacturing products and related services. Some pharmaceutical companies outsource the manufacturing of products under contract to focus on R&D, marketing and development of their products.
The pharmaceutical development and contract manufacturing market includes manufacturing companies that manufacture drugs and other pharmaceutical products for other pharmaceutical companies on a contract basis.
The Pharmaceutical Contract Development and Manufacturing Organization (CMO) market covered in this report is segmented by type into Active Pharmaceutical Ingredient (API) Manufacturing, Finished Dosage Formulation (FDF) Development and Manufacturing, Secondary Packaging. It is also segmented by preclinical research phase, phase I, phase II, phase III, phase IV.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.
The pharmaceutical contract development and manufacturing market is constrained by the low capacity utilization of manufacturing facilities. Capacity utilization is calculated taking into account the potential full capacity of the production plant.
The low utilization capacity of the production plant is due to the inefficiency of the various sub-processes of the production line, resulting in low production. Low production results in low revenue generation for the production unit, affecting the overall development of the pharmaceutical contract. and the manufacturing market.
For example, according to a 2019 article from the Trade Promotion Council of India (TPCI), most pharmaceutical production units in India are operating at 30-40% of capacity. Therefore, the underutilization of the production plant capacity negatively affects the pharmaceutical contract development and manufacturing market.
In 2019, Permira Funds, a European investment firm acquired Cambrex Corporation for $ 2.4 billion. The acquisition aims to strengthen and expand the products and services offered by Cambrex Corporation towards drug manufacturing. The Cambrex Corporation is a United States-based contract development and manufacturing (CDMO) company involved in products and services related to small molecule active pharmaceutical ingredients.
The growth of the pharmaceutical contract development and manufacturing market is driven by increasing demand for drugs across the world. The high prevalence of diseases and the need for a longer lifespan have increased the demand for drugs leading pharmaceutical companies to increase the production of existing drugs and increase investments in their R&D to promote the development of new drugs.
This prompts pharmaceutical companies to collaborate with contract manufacturing organizations (CMOs) to reduce operational costs, thereby increasing the demand in the pharmaceutical contract development and manufacturing market. According to Alkermes plc, a biopharmaceutical company says pharmaceutical contract manufacturing will emerge as a strategic option for many companies ranging from very large to smaller specialty pharmaceutical entities and this will happen mainly because pharmaceutical companies are looking for cost reduction.
Companies in the pharmaceutical contract development and manufacturing market invest in acquiring and forming alliances with other companies in the market. Pharmaceutical contract development and manufacturing companies follow the trend of mergers and acquisitions in order to expand their reach in the global market to meet customer needs, increase their production capacities while maintaining profitability and have access to the latest technologies and new services.
High levels of M&A activity are driving consolidation of contractual service providers. For example, according to a report by PricewaterhouseCoopers, the largest M&A activity in contract development and manufacturing organization over a period of 2017 to 2019 was the agreement between Thermo Fisher Scientific and Patheon. , where the former acquired the latter for $ 7.2 billion. Other significant acquisitions were also the acquisition of Brammer Bio by Thermo Fisher for $ 1.7 billion in 2019 and the acquisition of AMRI by Carlyle in 2017 for $ 1.5 billion.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and United States.
Read the full report: https://www.reportlinker.com/p06151537/?utm_source=GNW
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