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Contract Manufacturing Organization Market to Hit USD 188.07 Billion with 9.4% CAGR by 2026; High Prevalence of Numerous Types of Cancer Will Provide Impetus to market Growth, says Fortune Business Insights™

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Pune, Nov. 02, 2020 (GLOBE NEWSWIRE) — The global contract manufacturing organization market size is projected to reach USD 188.07 billion by the end of 2026. The increasing emphasis on the R&D of newer drugs and therapeutic procedures will bode well for the market in the coming years. The market was worth USD 92.42 billion in 2018 and will exhibit a CAGR of 9.4% during the forecast period, 2019-2026. The market in North America held the largest market share in 2018. The presence of several large scale companies has had a massive impact on the growth of the regional market. As of 2018, the market in North America was worth USD 32.60 billion and this value is projected to increase further in the coming years.KEY INDUSTRY DEVELOPMENTS:September2017 –Catalent Inc. announced acquisition of Pharmica LLC, an integrated provider of drug substance and drug product manufacturing and related servicesJune 2017 – Lonza Group AG Acquired PharmaCell B.V., one of the most respected cell and gene con-tract manufacturer in Europe.
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A contract manufacturing organization is an organization that provides drug development services to companies operating in the pharmaceutical industry. These organizations are involved in the entire development p5rocess, right from the clinical trial and phases till the commercialization of the drugs. The high investment in the drug development processes is an indication of high prevalence of serious chronic diseases.The severity of these diseases and their potential to have a direct impact on the life expectancy has benefited the contract manufacturing companies across the world. Recent advances in molecular biological concepts have allow3d operations and therapeutic procedures of the highest calibre as well as efficiency. The advances in clinical trials of several drugs associated with the disease will have a direct impact on the growth of the market in the coming years.
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Increasing Number of Company Mergers Will Aid GrowthThe report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company mergers ndacquisitions has made a huge impact on the growth of the market. In July 2018, Catalent Inc. announced the acquisition of Juniper Pharma.Through this acquisition, the company will look to capitalize on Juniper Pharma’s exceptional product portfolio. Accounting to the massive global consumer reach of Catalent Inc.’s latest acquisition will have a direct impact on the growth of the overall market in the forthcoming years.
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North America Currently Dominates the Market; Presence of Several Large Scale Companies to Aid GrowthThe report analyzes the ongoing contract management organization market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in North America held the largest Contract Manufacturing Organization Market share in 2018. The presence of several large scale companies has had a massive impact on the growth of the regional market.As of 2018, the market in North America was worth USD 32.60 billion and this value is projected to increase further in the coming years. The market in will emerge as the second largest market in the coming years accounting the high prevalence of several forms of cancer in several countries across this region.
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A few of the leading companies that are operating in the global Contract Manufacturing Organization Market include:Catalent Inc.Recipharm ABJubilant Life Science LtdLonza Group AGBoehringer Ingelheim International GmbHVetter Pharma-Fertigung GmbH & Co. KGFAMAR Health Care ServicesDr. Reddy’s Laboratories Ltd.Almac GroupOther prominent players
Contract Manufacturing Organization Market Segmentations:By Type●             API Manufacturing•              Finished Formulation Manufacturing•              Solid Dosage Forms•              Injectables●             PackagingBy Geography●             North America (the U.S. and Canada)●             Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)●             Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)●             Latin America (Brazil, Mexico, and the Rest of Latin America)●             Middle East & Africa (South Africa, GCC and the Rest of Middle East & Africa)
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companiesDetails in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facilityNumber of procedures and average price of proceduresReplacement rate and pricing of capital equipmentMarket dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunitiesMarket & technological trends, new product developments, product pipeline.
Have a Look at Related Reports:Contract Research Organization (CRO) Services Market Share and Global Trend By Service Type (Discovery, Pre-Clinical, Clinical, Laboratory Services), By Application (Oncology, Cardiology, Infectious Disease, Metabolic Disorders), By End User(Pharmaceutical & Biotechnological Companies, Medical Device Companies, Academic & Research Institutes) and Geography Forecast till 2026Compression Bandages Market Share and Global Trend By Product (Handheld Compression Bandages, Compression Bandages With Built-In Printers, Others), By End User (Hospitals, Clinics, Others) and Geography Forecast Till 2026Genomics Market Share and Global Trend By Type (Products, Services), Technology (Polymerase Chain Reaction, Next-generation Sequencing, Microarray, Sanger Sequencing), Application (Diagnostics, Research), End-User (Research Institutes, Healthcare Facilities & Diagnostic Centers, Pharmaceutical & Biotechnological Companies, Contract Research Organization (CROs)) & Geography Forecast till 2026Contract Development and Manufacturing Organization (CDMO) Market Share & Industry Analysis, By Service {By CMO (API, Finished Product {Solid Dosage Forms, Injectables, and Others}, and Packaging)} {By CRO (Discovery, Preclinical, Clinical Trial, and Laboratory Services)} and Regional Forecast, 2019-2026Cosmeceuticals Market Share & Industry Analysis, By Product (Skin Care, Hair Care, Injectables and Others), By Distribution Channels (Pharmacy/Drug Stores, Online Stores, and Others), and Regional Forecast, 2019-2026
About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
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