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New York, March 8, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Contract Development Manufacturing Organizations Global Market Report 2021: COVID-19 Growth And Change” – https://www.reportlinker.com/ p06033645 /? utm_source = GNW
, Aenova Holding, Almac Group, Vetter and Covance Inc.
The global contracted development manufacturing organization market is expected to grow from $ 158.72 billion in 2020 to $ 176.19 billion in 2021 at a compound annual growth rate (CAGR) of 11%. The growth is mainly driven by business resumption and adaptation to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges. The market is expected to reach $ 267.74 billion in 2025 with a CAGR of 11%.
The contracted development manufacturing organizations market consists of the sale of small molecules and biologics by entities (organizations, independent traders and partnerships), which serve the pharmaceutical companies on a contract basis.The market is made up of the generated revenue by CDMOs, which are used from drug development and drug manufacturing.
Only goods and services traded between entities or sold to final consumers are included.
Contracted development manufacturing organizations are segmented by department into CMO, CRO; by product in small molecules, biologics and by end user in large pharmaceutical companies, small and medium pharmaceutical companies, generic pharmaceutical companies, other end users.
North America was the largest Contract Development Manufacturing Organization market region in 2020. Regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, Eastern Europe, Asia Pacific, Western Europe, Eastern Europe, Asia Pacific, Eastern Europe. ‘North America, South America, the Middle East and Africa.
Strict government regulations in the drug approval process may limit the growth of the contract development manufacturing organizations market. Several governments around the world are imposing controls on pharmaceutical companies to protect the population from adverse drug reactions.
These regulations further delay the process of bringing innovative pharmaceutical products to the market: for example, it takes an average of at least ten years for a new drug to complete the process from its initial creation until it is brought to market, the clinical studies themselves last six to seven years. years on average.
According to PhRMA data in 2020, the average chance of clinical success (the chance that a drug in clinical trials will eventually be accepted) is estimated to be less than 12%. Hence, the strict government regulations are expected to hamper the growth of the Contracted Development Manufacturing Organizations market over the next few years.
In May 2019, Catalent, a U.S. provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products, acquired Paragon Bioservices, Inc. for $ 1.2 billion. Through this acquisition, Paragon Bioservices, Inc. brings its unique and differentiated scientific, development and manufacturing capabilities to Catalent, which will fundamentally improve Catalent’s biologics business and end-to-end integrated biopharmaceutical solutions for customers. Paragon Bioservices, Inc. is a United States-based contract development and manufacturing (CDMO) organization focused on the development and manufacture of advanced biopharmaceuticals.
The growing demand for pharmaceuticals due to the increase in chronic disease and geriatric population has contributed to the growth of the contract development manufacturing organizations market. The increase in chronic disease and geriatric population has enabled pharmaceutical companies to rapidly manufacture biologics and biosimilars, and most pharmaceutical companies have contracted production and manufacturing organizations operating on a contract basis to manage and coordinate company tasks, operations and testing
For example, according to the World Health Organization, the prevalence of chronic diseases increased by 57% in 2020 and by 2050, the global population aged 60 and over is expected to reach 2 billion. Hence, the increasing demand for pharmaceuticals is expected to drive the growth of the contract development manufacturing organizations market.
The introduction of custom solutions is a key trend that is gaining popularity in the contract development manufacturing organization market. Contract development manufacturing companies are focused on implementing custom technologies to meet the unique needs of contractors. individual research applications.
For example, in April 2019, Lonza Group AG, a Swiss chemical and biotechnology company, launched CellBio Services, a robust line of specific and tailor-made solutions designed to meet the particular requirements of individual research applications. With Lonza’s CellBio services, pharmaceutical and CMO researchers can benefit from a wide range of services such as cell isolation, transfection services, media processing, 3D cell culture services, cell characterization, l advancement of the cell line and the bank.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06033645/?utm_source=GNW
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