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Posted by Larry on September 9, 2024 at 11:13pm 0 Comments 0 Likes
Posted by freeamfva on September 9, 2024 at 11:12pm 0 Comments 0 Likes
The global Pharmaceutical CDMO Market size is expected to reach USD 232.587 billion by 2030, registering a CAGR of 6.1% over the forecast period, according to a new report by Grand View Research, Inc. increasing demand for biologics, growing outsourcing of drug development and manufacturing activities, and rising investments in research and development (R&D) by pharmaceutical and biotechnology companies as key drivers of market growth. Additionally, the report highlights the emergence of small and mid-sized pharma and biotech companies and the shift towards personalized medicine as further factors expected to drive the market forward.
The rising demand for biologics, in particular is anticipated to significantly contribute to the expansion of the CDMO industry. The use of these complex molecules created by living things in the treatment of many ailments is becoming more and more crucial. Because many pharmaceutical and biotechnology companies lack the specific manufacturing capabilities needed for biologics, medication research, and manufacturing processes are increasingly being outsourced. Pharmaceutical and biotech firms are turning to CDMOs to assist lower costs and increase efficiency as the cost of drug development and production keeps rising.
The market for CDMOs is expanding because of a number of developments, including the expansion of small and mid-sized pharma and biotech firms, the trend toward personalized medicine, and the rising need for biologics. The COVID-19 pandemic provides a recent illustration of the demand for CDMO services. Several businesses lack the specific knowledge and manufacturing capabilities needed to develop and produce COVID-19 vaccines and treatments. As a result, some pharmaceutical firms have enlisted CDMOs' assistance in the development and manufacturing of vaccines and treatments.
For instance, Moderna, a biotech company, partnered with Lonza, a CDMO, to manufacture its COVID-19 vaccine. This partnership allowed Moderna to significantly increase its manufacturing capacity and produce millions of vaccine doses in a short amount of time, helping to address the urgent need for COVID-19 vaccines. This example highlights the important role that CDMOs play in drug development and manufacturing and how they are helping to address critical global health challenges.
Related Press Release@ Pharmaceutical CDMO Market Report
Pharmaceutical CDMO Market Report Highlights
Related Reports@
Healthcare Contract Development And Manufacturing Organization Market
Pharmaceutical CDMO Market Segmentation
Grand View Research has segmented the global pharmaceutical CDMO market based on product, workflow, application, and region:
Pharmaceutical CDMO Product Outlook (Revenue, USD Million, 2018 - 2030)
Pharmaceutical CDMO Workflow Outlook (Revenue, USD Million, 2018 - 2030)
Pharmaceutical CDMO Application Outlook (Revenue, USD Million, 2018 - 2030)
Pharmaceutical CDMO Regional Outlook (Revenue, USD Million, 2018 - 2030)
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