Contract Manufacturing Organization Market Share, Developments, Segmentation, Size and Trend Forecast to 2026
The global contract manufacturing organization market size is projected to reach USD 188.07 billion by the end of 2026. The increasing emphasis on the R&D of newer drugs and therapeutic procedures will bode well for the market in the coming years. According to a report published by Fortune Business Insights, titled “Contract Manufacturing Market (CMO) Market Size, Share & Industry Analysis, By Type (API Manufacturing, Finished Dosage Form Manufacturing (Solid Dosage Forms, Injectable, and Others) and Packaging), and Regional Forecast, 2019-2026,” the market was worth USD 92.42 billion in 2018 and will exhibit a CAGR of 9.4% during the forecast period, 2019-2026.
A few of the leading companies that are operating in the global CMO market include:
- Catalent Inc.
- Recipharm AB
- Jubilant Life Science Ltd
- Lonza Group AG
- BoehringerIngelheim International GmbH
- Vetter Pharma-Fertigung GmbH & Co. KG
- FAMAR Health Care Services
- Dr. Reddy’s Laboratories Ltd.
- Almac Group
- Other prominent players
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/contract-manufacturing-organization-cmo-market-102658
A contract manufacturing organization is an organization that provides drug development services to companies operating in the pharmaceutical industry. These organizations are involved in the entire development p5rocess, right from the clinical trial and phases till the commercialization of the drugs. The high investment in the drug development processes is an indication of high prevalence of serious chronic diseases. The severity of these diseases and their potential to have a direct impact on the life expectancy has benefited the contract manufacturing companies across the world. Recent advances in molecular biological concepts have allow3d operations and therapeutic procedures of the highest calibre as well as efficiency. The advances in clinical trials of several drugs associated with the disease will have a direct impact on the growth of the market in the coming years.
Increasing Number of Company Mergers Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company mergers ndacquisitions has made a huge impact on the growth of the market. In July 2018, Catalent Inc. announced the acquisition of Juniper Pharma. Through this acquisition, the company will look to capitalize on Juniper Pharma’s exceptional product portfolio. Accounting to the massive global consumer reach of Catalent Inc.’s latest acquisition will have a direct impact on the growth of the overall market in the forthcoming years.