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MARYLAND, GAITHERSBURG, UNITED STATES, October 18, 2021 /EINPresswire.com/ — The Global Pharmaceutical Contract Development and Manufacturing Organization (CDMO) Market is accounted for $148.50 billion in 2019 and is expected to reach $298.07 billion by 2027 growing at a CAGR of 9.1% during the forecast period. Some of the key factors propelling the market growth include growing demand for generic medicines and biologics, growing need for state-of-the-art processes and production technologies, advent of contract development & manufacturing organization (CDMO) model, and growing investment in R&D. However, stringent government regulations are likely to hamper the market.
By service type, pharmaceutical manufacturing services segment is projected to grow at the lucrative rate during the forecast period, due to the growing need to reduce manufacturing cost, the requirement for high-quality bulk manufacturing, growing demand for generic drugs, high cost of operations, and lack of in-house manufacturing capacity.
Some of the key players in Pharmaceutical Contract Development And Manufacturing Organization (CDMO) Market include Famar SA, Boehringer Ingelheim Group, Catalent Inc., Pfizer CentreSource, CMIC Holdings Co. Ltd, Aenova Holding GmbH, Baxter Biopharma Solutions, Syneos Health Inc., Lonza Group , Patheon Inc., Novotech Pty Ltd, Covance Inc., Recipharm AB , SGS SA (SGS Life Sciences), Jubilant Life Sciences Ltd, Samsung Bioepis Co. Ltd, IQVIA Holdings Inc., Quanticate Ltd, PAREXEL International Corporation, and WuXi AppTec Inc.
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On the basis of geography, Asia-Pacific is expected to witness the significant market growth during the forecast period, owing to the low cost offered by the region, as compared to the United States and other developed economies. Additionally, growing incidences of chronic and lifestyle diseases, such as diabetes and heart disease, coupled with ease of patient recruitment and availability of expertise for clinical trials, are few driving factors boosting growth in the region. With the increasing privatization of clinical trials, there has been an increase in the outsourcing of research processes in developing regions like China and India.
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Pharmaceutical CDMO Market report provides an in-depth study and forecast about the industry covering the complete overview of the market that will assist convey clients and business-making strategies. The industry’s supply chain and market size, in terms of value, have been derived by extensive research methods. Our report enables readers to understand details of the market, latest trends, key drivers and constraints, opportunities, threats, volume and value forecasts, and various investment opportunities for manufacturers operating in the global and regional markets. Pharmaceutical CDMO Market report also offers company profiling with detailed strategies, financials, key products, and recent developments along with SWOT analysis of profiled players and Porters five forces for deep insights.
This report offers market monitoring related to a particular area of clients interest and provides up to date information related to strategic initiatives like mergers, acquisitions, partnerships, expansions, product launches for leading companies on a regional scale depending on the clients subscription period for various industries or markets. Our data is constantly updated and revised by team of research experts so that it always reflects the recent trends and information. We have high experience in research and consulting for different business domains to provide to the necessities of both individual and corporate clients. Our experienced team uses proprietary data sources and different tools and methods to gather and analyze information.
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