The global healthcare contract development and manufacturing organization market size is expected to reach USD 352.3 billion by 2027, with a CAGR of 8.1% during the forecast period. The growing trend of contract based outsourcing in the healthcare sector is expected to supplement the market growth throughout the forecast period. Moreover, the rise in competition between CRO and CDMO is also expected to have an impact on the market growth in the long term.
Healthcare contract development and manufacturing market covers the scope for contract based transactions for pharmaceutical, biotech and biopharmaceutical organizations. The presence of mid-size to large organizations with a corporate setup possess the capability of handling and offering complex solutions for multinational companies. Therefore, the market is supplemented with the rising demand for outsourcing in the healthcare sector. Moreover, the market growth also includes regulation and assurance over quality services.
Contract development and manufacturing organizations offer valuable service to the pharmaceutical industry and enabling access to the potential capabilities thereby reducing the cost of in-house manufacturing. For instance, the corporate entities in the healthcare sector are preferring M&A techniques for expansion in the global market. A huge number of private players are highly active therein boosting the competition and reflexively enables the private players to remain consistently open for investors and stakeholders. In another instance, big pharma companies are looking forward to consolidate supplier-buyer partnership to boost deeper strategic partnership with existing suppliers. The major objective behind these initiatives is to reduce the cost and complexity associated at every channel.
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Recently, Intravacc collaborated with Celonic Group (CDMO) for development of Covid-19 vaccine. The vaccine is based on Intravacc’s outer membrane vesicle (OMV) technology and immunogenic spike (S) protein of SARS CoV-2. Celonic group would design cell lines that produce the S-protein and develop GMP production facilitated and validated by pre-clinical studies based upon a selected protein candidate.
Further Key Findings From the Report Suggest:
The contract manufacturing segment accounted for a high share in 2019 and will continue to retain its growth throughout the forecast period. Rise in demand for outsourcing activities in the healthcare sector due to increase in the prevalence of chronic diseases
Contract manufacturing can be further quadfurcated into finished dose/formulations, API/bulk formulations, medical device and finished dose formulations. Medical device registered 47.5% in 2019 and is expected to exhibit lucrative opportunities in the near future
The contract development segment exhibited positive growth in 2019 owing to the rise in trend of outsourcing, increase in geriatric population with home care demands, and increasing significance of contract based manufacturing in the global healthcare scenario
North America is a dominant market for contract development and manufacturing with a revenue share of 41.2% in 2019. With the presence of large number of CROs and CMOs in the region, the regional market is expected to exhibit a steady growth in the near future
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Major Key Players:
Siegfried Holding AG
Lonza Group Ltd
Thermo Fisher Scientific Inc.;
IQVIA Holdings Inc.;
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