CMO/CDMO Market Exhibiting Above 6% CAGR, Driven by Expansion of Personal Care Industry: Future market Insights
Increasing demand from the pharmaceutical industry and opportunities for new entrants are creating growth opportunities
DUBAI, UAE / ACCESSWIRE / April 6, 2021 / The global CMO/CDMO market is expected to post higher gains for 2020-2030. Increasing number of companies engaged in outsourcing services from contract manufacturing & contract development manufacturing organizations within pharmaceutical sector will boost the.
As per FMI’s analysis, the rising demand for generic medicines and biologics & rising preference for local and natural products over big brands among consumers is paving the way for growth of the market. The soaring demand from personal care & cosmetic manufacturers and growing inclination towards herbal cosmetics is creating new growth opportunities for the contract manufacturing organizations and contract development and manufacturing organizations (CMO/CDMOs).
Additionally, the rising demand for herbal ingredients from herbal and personal care industry will aid the expansion of the market. Driven by changing preferences of consumers, companies are shifting some of their load to third party, which also helps them to focus on their top priorities.
“The CMO/CDMO landscape is characterized by the presence of numerous regional level manufacturers in personal care and pharmaceutical industry. Hence, strategic collaboration is the key strategy adopted by market players to capitalize on existing opportunities,” says the FMI analyst.
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Key Takeaways
- Filling and Packaging to account for over 37% of total CMO/CDMO market share
- Skin products to emerge as one of the fastest expanding domains through 2030
- China to be the major supplier of raw materials for personal care industry through 2021 and beyond
- Italy to account for a substantial share of around 20%, attributed to high presence of cosmetic manufacturers
- High demand from cosmetic & personal care industry to boost CMO/CDMO sales across United States
- India to be the most lucrative market of South Asia backed by the high presence of CMO/CDMOs in the country
Prominent Drivers
- Increasing investment in pharmaceutical R&D and demand for genetic drugs is boosting the market growth
- New opportunity frontiers across the pharmaceuticals and biotechnology markets are heightening expansion prospects
- Pharmaceutical companies to rely on CMO/CDMO for drug development services
Key Restraints
- CMO/CDMO to face the challenge of ensuring a robust serialization process, thereby restraining the demand
Discover more about the CMO/CDMO market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/ask-question/rep-gb-13038
Competitive Landscape
Swiss American CDMO, Pierre Fabre Group, Zymo Cosmetics, Fareva, Biofarma Srl C.F., Chemineau, C.O.C., Farmaceutici Srl, Paragon Nordic, Cosmetic Solutions, Kolmar, Lonza, Cho Chuang Industrial Co. Ltd., Vive Cosmetics, and Zoic Cosmetics among others are some prominent players profiled by FMI’s report. Key expansion strategies include forging long-term collaborations with prospective end-users, acquisition of small and medium scale manufacturers and new product launches.
In 2019, Cambrex acquired Pemira with US$ 2.4 billion deal along with Halo Pharma for US$ 425 million, which prompted drug-product capabilities to the company’s core competency in active pharmaceutical ingredient development and manufacturing services. Also, in 2019, Cambrex acquired Avista Pharma Solutions for $252 million to add early-stage development and analytical testing services.
Additionally, Fujifilm’s acquired Biogen’s large-scale bio manufacturing facility for US$ 890 million, was the largest deal among sales of ex-Big Pharma facilities to CDMOs/CMOs.
Likewise in 2019, Thermo Fisher Scientific acquired a drug-substance manufacturing site from GlaxoSmithKline for around US$ 100.6 million for multi-product facilities.
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More Insights on FMI’s CMO/CDMO Market
Future Market Insights has published a market research report on the CMO/CDMO market that contains global industry analysis for 2016-2020 and opportunity assessment for 2020-2030. The report provides insightful analysis of the CMO/CDMO market through four different segments- service, product, foam and region. The CMO/CDMO market report further provides demand trends of different types across industry verticals, a comprehensive list of service providers in the market along with a detailed overview of the parent market.
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