The North American healthcare CDMO market is estimated to grow significantly during the forecast period.
The growing adoption of contract manufacturing and contract development services by the pharmaceutical and medical device companies is considered a major factor that propels the market growth in the region.
The pharmaceutical contract manufacturing market in North America is being driven by the increased outsourcing of large pharmaceuticals companies to improve profit margins. Further, the large pharmaceutical companies in North America are also developing their contract research organization to develop a network in foreign countries.
There are a large number of CDMO working in association with large pharmaceutical companies. These contract manufacturers have involved formulation, clinical trial manufacturing, and API development primarily. There is a surging demand for innovative drugs and medical devices across the region which has augmented the market growth of the North American Healthcare CDMO market in recent years.
Based on services, the market is further classified into contract development and contract manufacturing. The contract manufacturing services segment is projected to have a significant share in the North American healthcare CDMO market owing to the significant adoption of outsourcing services by pharmaceutical companies across the globe.
Based on geography, the North American healthcare CDMO market is further segregated into the US and Canada. The US is projected to have a considerable share in the North American healthcare CDMO market owing to the presence of major market players and significant investment in drug discovery and development in the country.
The companies which are contributing to the growth of the North American healthcare CDMO market include AbbVie Inc., Baxter International, Inc., Catalent, Inc., Pfizer Inc., Thermo Fisher Scientific Inc., Jabil Inc., and others.
Product launch, merger, and acquisition, collaborations with government, and technological advancements through which market players are considerably contributing to the market growth to stay competitive in the market.
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights 2.1. Scope of the Report 2.2. Analyst Insight & Current Market Trends 2.2.1. Key Findings 2.2.2. Recommendations 2.2.3. Conclusion 2.3. Rules & Regulations