The global healthcare CMO market accounted to US$ 80,479.4 in 2018 and is expected to grow at a CAGR of 12.2% during the forecast period 2019 – 2027, to account to US$ 223,355.6 Mn by 2027.
Asia-Pacific is the fastest growing geographic market and it is anticipated to be the third largest revenue contributor throughout the forecast period. Asia Pacific is recognized as an emerging market for the pharmaceutical and biopharmaceutical industry across the world. The growth is defined by the cost effective manufacturing of the pharmaceutical products and rising healthcare expenditures by the various countries in the region.
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Increasing Inclination of Pharmaceutical and Medical Device Manufacturers Towards Outsourcing
The growth of the healthcare contract manufacturing organizations market is growing owing to the advantages offered by the contract manufacturing companies. These companies provides services to the pharmaceutical, biopharmaceutical and medical device companies. For the biopharmaceutical and pharmaceutical companies the CMO offers various beneficial services right form the producing of small quantities of materials for R&D purposes, larger amounts for clinical study and eventually large-scale production for commercialization.
Here we have listed the top Healthcare CMO Market companies in the world
Boehringer Ingelheim International GmbH
Recipharm AB (publ)
Piramal Enterprises Ltd
Dr. Reddy’s Laboratories Ltd.
FAMAR Health Care Services.
On the other hand the CMO helps medical devices companies meet the rising demands from the customers. The companies invest majorly on the R&Ds with the aim of delivering high quality and innovative products to the market. The rising demands for the healthcare products such as medicines, vaccines, diagnostics devices, implants and other therapeutic medicines and devices are likely to drive the contract manufacturing. Therefore, owing this factor the market for the healthcare CMO is likely to significantly in the forecast period.
Mergers and agreements were observed as the most adopted strategy in global healthcare CMO industry. Few of the recent market consolidations are listed below:
2018: In October, 2018, Recipharm acquired Sanofi’s inhalation contract manufacturing business including a manufacturing facility located in Holmes Chapel, UK to expand its full service offering to include specialist, in-demand capabilities.
2017: In February, 2017, Catalent Pharma Solutions acquired Accucaps Industries Limited to expand Softgel development and manufacturing capabilities and capacity in Canada.
2015: In May 2015, Lonza and Nikon signed a collaboration in the field of cell and gene therapy manufacturing in Japan.
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