Apr 12, 2022

Search jobs 12-Apr-2022 CMO/CDMO Market Is Projected to Grow at A CAGR Of 6% During the Forecast Period 2020-2030 An increasing number of companies within the pharmaceutical sector have been considering contract manufacturing in response to the increasing demand for generic drugs and biologics. In a new study, Future Market Insights (FMI) has forecast the global contract manufacturing/ contract development and manufacturing organization  (CMO/ CDMO) market  to surpass US$ 18 Bn by 2020. According to the study, contract manufacturing accounts for 3/4th of all the CMO and CDMO services. Focus towards cost management, enhanced process flow, and better scalability will drive the market over the forecast period. Besides this, the increasing demand for skin care products, which also accounts for the leading share in terms of product type, will enable the market gain impetus in the coming years. Key Takeaways from CMO/CDMOs Market Study CMO/ CDMO services has become highly sought-after in pharmaceutical and beauty industries. FMI has projected the market to report 6.2% CAGR between 2020 and 2030 The U.S. is expected to account for over 77% of sales in North America by 2030 The U.K. will represent impressive scope for expansion, exhibiting above 7% CAGR through the forecast period The rising focus on healthcare and wellness spending will support growth in Germany and France The availability of inexpensive labor and resources will continue supporting growth in China. However, Japan and South Korea markets are expected to register higher percentage of growth over the forecast period To remain ‘ahead’ of your competitors, request for a sample @  https://www.futuremarketinsights.com/reports/sample/rep-gb-13038 “Manufacturers operating in the market are keen on forging strategic partnerships with leading cosmetics brands and pharmaceutical companies. Collaborations are expected to remain a primary strategy adopted by market players to gain competitive edge,” says FMI analyst In terms of the effect of COVID-19 pandemic on the demand of CMO/CDMO services, there was a negative impact on the market growth. One of the major issues was related to the supply chain gap. Prior to COVID-19, contract manufacturing was one of the most preferred sectors in the growing beauty and personal care industry. However, due to the pandemic, the industry suffered major setbacks as expected product launches were delayed. A shift was observed in consumer habits. Reduction of sales of leading products was recorded along with production slowdowns, which caused overhead to curb the profitability. Who is Winning? Collaboration is the key strategy amongst market players. The CMO/CDMO companies continue to focus on collaborations to gain sustainability in the market. For instance, In February 2021, Lonza signed an agreement to divest its specialty ingredients business to Bain Capital and Cinven, aiming to refocus as a pure-play partner to the healthcare industry. In 2021, Pierre Fabre Group hosted a pioneering custom online partnering forum, partnering with biopharmaceutical firms aiming to accelerate the digital transformation of Pierre Fabre Group In 2020, In March 2020, Pierre Fabre Group, in partnership with numerous hospitals in the Occitania region of France, donated hand care creams, body cleansing gels and thermal spring water sprays and hand sanitizers necessary to combat the spread of Covid-19. For critical insights, request for PDF Brochure @  https://www.futuremarketinsights.com/reports/brochure/rep-gb-13038 Want more insights? Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015-2030. The global CMO/CDMO market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on CMO/CDMO market on basis of service (Contract Development: Formulation development & Pilot studies, Contract Manufacturing: Bulk preparation & scale up, Safety Testing and Filling & Packaging (Close jars, Bottles, tubes, roll ons and others), on basis of product (Hair Products, Skin Products, Lip Products, Eye Products, Body hygiene and Oral hygiene), on basis of form (Solid form & powder, Lotions, Creams and Others) across seven key regions. Competitive Landscape The CMO/CDMO market has a consolidated vendor landscape. There is need for continued research and development, which remains a key strategy among market players. Besides this, strategic collaborations are among common strategies adopted to gain competitive edge. For instance, in February 2020, Catalent entered into an agreement with Zumutor Biologics Inc. to produce Zumutor’s ZM008 to offer treatment for solid tumors. Some of the companies operating in the market are: Swiss American CDMO Why Future Market Insights? Detailed insights of market segments and sub-segments for historical as well as forecast period A competitive analysis of prominent players and emerging players in the keyword market Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario  About FMI: Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. 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