Active Pharmaceutical Ingredient (API) is expected to drive the growth of the global healthcare CMO market by sub segment of service segment

NEW YORK, UNITED STATES, March 16, 2022 /EINPresswire.com/ -- According to The Insight Partners new market research study titled ‘Healthcare CMO Market to 2027 – Global Analysis and Forecasts by Service and Geography. The global healthcare CMO market is expected to reach US$ 223,355.6 Mn in 2027 from US$ 80,479.4 in 2018. The market is estimated to grow with a CAGR of 12.2% from 2019-2027. The market is expected to grow due to increasing contract manufacturing of the active pharmaceutical ingredients (API) for the pharmaceutical contract manufacturing services.

Contract manufacturing organization (CMO) also known as contract development and manufacturing organization is a company that serves several other companies in the medical devices as well as pharmaceutical and biopharmaceutical sector with comprehensive services from development, manufacturing to packaging. These services are outsourced by various OEM players in the business in order to help with the scalability, and save marginally on production costs.

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The major players operating in the healthcare CMO market, Royal DSM, Catalent, Inc, Boehringer Ingelheim International GmbH, Recipharm AB (publ), Fareva, Lonza, Piramal Enterprises Ltd, Dr. Reddy’s Laboratories Ltd., Almac Group, FAMAR Health Care Services.

Global healthcare CMO market, based on services was segmented as, pharmaceutical contract manufacturing services and medical device contract manufacturing services. The pharmaceutical contract manufacturing services is further classified as active pharmaceutical ingredients (API), final dosage form manufacturing and packaging market. Similarly, the medical device contract manufacturing services is divided into outsourcing design, device manufacturing and final good assembly markets. In 2018, the pharmaceutical contract manufacturing services segment held the largest share of the market, by service. Also, the pharmaceutical contract manufacturing services segment is expected to witness fastest growth at a fastest CAGR of 12.6% during 2019 to 2027.

The healthcare CMO is a well-established market in nature with consisting of the good and enormous number of players, having considerable revenue in the market. Most of the companies operating in the healthcare CMO market are offering their services to the pharmaceutical and medical device companies in the North American, European, Asia Pacific, Middle East, African and South and Central American regions. The CMO have expanded their production facilities in these regions and also have a tough competition by the existing players of these regions.

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Market leaders are involved in activities such as, acquisitions & mergers and service launches. For instance, In June, 2018, Lonza expanded its late-stage clinical and commercial encapsulation capabilities for solid oral and inhaled dosage forms in North America. And the other instance took place in April, 2018 Almac Group expanded its US commercial packaging capabilities at its Audubon, PA facility.

The market has experienced several service launches, expansion, mergers and acquisition, and other developmental activities that has resulted into organic growth strategies for the respective companies.

Below is the list of the product launches done by the operating players in the healthcare CMO market

In 2019 - Almac Group launched a second stream for High Throughput GMP Peptide manufacturing
In 2019 - Boehringer Ingelheim initiated a capacity expansion at its commercial manufacturing site for biologics in China.
In 2018 - Lonza launched XS Pichia 2.0 expression and manufacturing platform for the development of next generation therapeutics.
In 2017 - Catalent Pharma Solutions launched OptiForm Solution Suite platform to provide an efficient and seamless path from late-stage discovery to phase I clinical trials.
In 2016 - Catalent, Inc. acquired Accucaps Industries Limited to expand Softgel development and manufacturing capabilities and capacity. This acquisition substantially complements Catalent’s global OTC and prescription pharmaceutical softgel capabilities and capacity adding a portfolio of products supplied to pharmaceutical companies in North America

The rising numbers of the contract manufacturing across the globe are entering in the production of the generic drugs as the legislation encouraged competition to benefit consumers. The CMOs help in the manufacturing the drug with the bioequivalence testing and the drugs are produced with the current good manufacturing practices. The CMO allows to reduce the cost of manufacturing and enhance the production in bulk quantities. Additionally as per the EvaluatePharma statistics it is stated that approximately US$ 194 billion in the innovative drugs sales are at risk during the 2017- 2020. Also an estimate of nearly US$ 31 billion could be lost due to the expiry of patents alone in 2018. Therefore, owing to the above mentioned factors the market for the healthcare CMO is likely to propel during the forecast period.

The report segments the global healthcare CMO market as follows:

• Global Healthcare CMO Market – By Service
• Pharmaceutical Contract Manufacturing Services
o Active Pharmaceutical Ingredients (API) Manufacturing
o Final Dosage Form Manufacturing
o Packaging
• Medical Device Contract Manufacturing Services
o Outsourcing Design
o Device Manufacturing
o Final Goods Assembly

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Sameer Joshi
The Insight Partners
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