SAN FRANCISCO, May 6, 2020 /PRNewswire/ -- The global healthcare contract development and manufacturing organization market size is expected to reach USD 352.3 billion by 2027, registering a CAGR of 8.1% over the forecast period, according to a new report by Grand View Research, Inc. 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 the market growth over the forecast period.
Key suggestions from the report:
- 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.
Read 120 page research report with ToC on "Healthcare Contract Development And Manufacturing Organization Market Size, Share & Trends Analysis Report By Services (Contract Development, Contract Manufacturing), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/healthcare-contract-development-manufacturing-organization-market
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 of 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.
Grand View Research has segmented the global healthcare contract development & manufacturing organization market based on services and region:
- Healthcare Contract Development & Manufacturing Organization Services Outlook (Revenue, USD Billion, 2016 - 2027)
- Contract Development
- Bioanalysis and DMPK studies
- Toxicology Testing
- Other Preclinical Services
- Phase I
- Phase II
- Phase III
- Phase IV
- Laboratory Services
- Bioanalytical Services
- Analytical Services
- Contract Manufacturing
- API/Bulk Drugs
- Finished Dose Formulations
- Medical Device
- Class I
- Class II
- Class III
- Healthcare Contract Development & Manufacturing Organization Regional Outlook (Revenue, USD Billion, 2016 - 2027)
- North America
- Asia Pacific
- South Korea
- New Zealand
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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