7.41% CAGR in CMO Market in the Pharmaceutical Industry: Growth, Trends, and Forecasts (2022 - 2026) | Technavio

• Almac Group Ltd.- Almac Group Ltd. operates its business under segments- Diagnostic Services, API Services and Chemical Development, Pharmaceutical Development, Analytical and Solid State Services, Clinical Services, Clinical Technologies, and Commercial Services. The company offers CMO products such as 14C Radiolabelling and NeoPeptides.
• Boehringer Ingelheim International GmbH- Human Pharmaceuticals, Animal Health, Biopharmaceuticals are some of the revenue generating segments for Boehringer Ingelheim International GmbH. The company offers CMO products such as Boehringer Ingelheim BioXcellence.
• Cadila Pharmaceuticals Ltd.- The company offers CMO products such as Pranlukast Hydrate, Pregabalin, and O-Desmethyl Venlafaxine.

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One of the key factors driving growth in the CMO market in the pharmaceutical industry is the availability of cost-efficient resources in emerging markets. Countries such as China, India, Brazil, and Mexico have witnessed significant advances in their healthcare infrastructure and technological advances in their drug development processes. As a result, large and medium-sized pharmaceutical companies from developed countries are outsourcing various drugs and therapies' research and manufacturing operations to the vendors in such countries. One of the key reasons for the increasing popularity of outsourcing these processes is the availability of labor at a comparatively lower price than in developed countries. Factors such as the increasing number of US Food and Drugs Association (FDA)-approved manufacturing plants in such countries also encourage outsourcing. Therefore, the global CMO market in the pharmaceutical industry is expected to grow strongly during the forecast period.

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CMO Market in Pharmaceutical Industry: Segmentation Analysis

This market research report segments the CMO market in pharmaceutical industry by Service (API manufacturing service and FDF manufacturing service) and Geography (Europe, North America, APAC, MEA, and South America).

35% of the market's growth will originate from Europe during the forecast period. Germany, France, and the UK are the key markets for CMO in the pharmaceutical industry in Europe. However, the market growth rate in this region will be slower than the growth of the market in the North American, MEA, and APAC regions. Various small- and medium-sized CMOs are working on offering efficient services at a low cost to pharmaceutical companies by cutting down overhead costs. This will facilitate the CMO market growth in pharmaceutical industry in Europe over the forecast period.

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The stereotypical nature of CMOs will be a major challenge for the CMO market in pharmaceutical industry during the forecast period. Despite the growing popularity of CMOs in emerging countries such as China and India, the global CMO market in the pharmaceutical industry faces a significant challenge due to the limited offerings of the CMOs vendors. CMOs in Asia, which holds the highest share of the global CMO market in the pharmaceutical industry, lack access to advanced technologies. CMOs in the region primarily manufacture small molecule-based drugs, which can be produced in large quantities. This is mainly due to the complex manufacturing processes of biological drugs, which require advanced technologies. The cost of manufacturing such drugs is also usually high. Many global CMOs operate on a small scale and they lack the funding required to produce biological drugs on a large scale. As a result, the growth opportunity for the small and medium-sized CMOs is restricted to the growth of small molecule-based generic drugs. This is currently a significant challenge faced by CMOs and is expected to hinder the growth of the global CMO market in the pharmaceutical industry.

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Some of the key topics covered in the report include:

Market Challenges

Market Drivers

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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