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Global CDMO Outsourcing Market 2019-2023 | 8% CAGR Projection Over the Next Five Years | Technavio

September 12, 2019
Global CDMO Outsourcing Market 2019-2023 | 8% CAGR Projection Over the Next Five Years | Technavio
Global CDMO Outsourcing Market 2019-2023 | 8% CAGR Projection Over the Next Five Years | Technavio

LONDON--(BUSINESS WIRE)--Sep 12, 2019--

The global contract development and manufacturing organization (CDMO) outsourcing market is poised to reach USD 36.51 billion by 2023, according to a new report by Technavio, progressing at a CAGR of close to 8% during the forecast period.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190912005467/en/

Technavio has announced its latest market research report titled global contract development and manufacturing organization (CDMO) outsourcing market 2019-2023. (Graphic: Business Wire)

“Poor lifestyles have increased the number of diseases such as diabetes and other cardiac diseases. The high demand for drugs to treat these diseases is driving many pharma and biotech companies to outsource some of their processes to CDMOs. Many CDMOs engaging in M&As to improve their market share and penetrate in new regions. These are some of the factors influencing the growth of the global CDMO outsourcing market”, says a senior analyst at Technavio. Request Free Sample Pages

The market is driven by the growth of the pharmaceutical industry. In addition, the increasing demand for one-stop-shop CDMOs is anticipated to further boost the expansion of the global CDMO outsourcing market during the forecast period.

The rising prevalence of many lifestyle-influenced diseases such as diabetes, obesity, and heart diseases are creating a strong demand for pharmaceutical products. This has necessitated many pharma and biotech companies to expand their manufacturing capabilities. However, several small pharma and biotech companies cannot afford to expand their manufacturing facilities due to financial constraints. This is why they prefer to outsource some of their processes to CDMOs so as to cater to the growing demand in the market. Moreover, improving technical capabilities and expertise of CDMOs are encouraging many enterprises to outsource the manufacturing and development of large molecules in biologics. This is helping enterprises manufacture large number of drugs in a short period, driving the expansion of the global CDMO outsourcing market.

Many pharma and biotech companies are shifting their focus toward engaging with one-stop-shop CDMOs to gain a competitive edge in the global market. Such CDMOs provide support through all stages of drug formulation and development and also offer secondary packaging services, including customization of packaging based on various requirements. They also assist enterprises in developing strategies to optimize capital cost during development, test drug product to meet regulatory requirements, and preserve scarce APIs. These benefits offered by one-stop-shop CDMOs is allowing enterprises to focus more on core areas. The growing demand for one-stop-shop CDMOs is expected to fuel the growth of the global CDMO outsourcing market during the forecast period.

For More Information: Request Free Sample Pages

The report includes detailed profiles of the leading companies & prominent vendors of the market:

Market Segmentation by Product:

Key Regions for the CDMO Outsourcing Market:

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Vendor Landscape

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190912005467/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 09/12/2019 07:45 AM/DISC: 09/12/2019 07:45 AM

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