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This “Pharmaceutical Contract Development and Manufacturing Organization (CDMO) Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)” Report has been added to ResearchAndMarkets.com supply.
The global pharmaceutical CDMO market (hereinafter referred to as the research market) in 2020 is valued at 160.12 billion U.S. dollars and is expected to reach 236.61 billion U.S. dollars by 2026, with a compound annual growth rate of 6.5% during the forecast period.
The CMO/CDMO service department has unique advantages and can solve some of the challenges faced by drug developers during the COVID-19 pandemic. This pandemic has affected many aspects of the pharmaceutical and biopharmaceutical industries, from drug development, clinical trials, supply, manufacturing to supply chain logistics.
However, the shortage of medicines due to COVID-19 is limited, and due to global stocks of medicines and APIs, this is expected to remain so in the short term. Since the implementation of the blockade, the supply of Chinese manufacturing facilities has decreased significantly. The main reason is that some typical labor cannot return to work, which leads to the underutilization of efficiency at multiple levels of the industry. In addition, due to delays in API manufacturing, the US Food and Drug Administration (FDA) announced short-term shortages as early as February 2020.
Industry highlights
The biggest factor driving the growth of CMOs in the pharmaceutical industry in the Asia-Pacific region is the growing demand for robust processes and production technologies. Facts have proved that these technologies and production technologies are very effective in meeting regulatory requirements.
CMOs have been integrating as a means to increase profitability in a highly competitive market. Through integration, large CMOs can expand their geographic influence and penetrate into niche markets. Small CMOs can use the technical expertise and resources of large CMOs.
For example, in January 2020, Korean biosimilar manufacturer Celltrion announced plans to invest US$514 million in its new Wuhan plant within five years, which will become China’s largest biologics plant with a capacity of 120,000 liters. The new plant aims to develop and produce its own biologics for the local market and provide contract services for emerging Chinese biotech companies.
In addition, Polaris Pharmaceuticals is one of Taiwan’s leading pharmaceutical companies. The company’s business covers the entire pharmaceutical supply chain from research and development to sales and distribution. Bora has facilities certified by the US FDA, MHRA and PIC/S, providing R&D, CDMO and CMO services to Taiwanese and global pharmaceutical companies. The company owns…
The full story can be found on Benzinga.com
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