Contract Development And Manufacturing Organization (CDMO) Outsourcing Market Size, Share, Growth Analysis, By Service(Contract Manufacturing Organization (CMO), Contract Research Organization (CRO) Services), By Region - Industry Forecast 2024-2031

The market in North America is distinguished by the region's long-standing CDMO presence. Along with this element, expanding partnerships between pharmaceutical firms and CDMOs providing a wide variety of services are to blame for the region's leading market share globally. The pharmaceutical business is supported by an estimated 300 pharmaceutical contract development and manufacturing companies (CDMOs). The industry is still incredibly fragmented despite rising merger and acquisition (M&A) activity; the top five CDMOs account for only 15% of the market as a whole.

For example, in order to further the research and development of iSTAR Medical's MINIject device, a minimally invasive glaucoma surgery (MIGS) tool for glaucoma patients, AbbVie and iSTAR Medical SA today announced a strategic transaction. This beneficial partnership will aid in iSTAR Medical's research, development, and marketing efforts for MINIject and give AbbVie the chance to grow its eye care division by enhancing its range of glaucoma products, which already includes stents, sustained release implants, and drops. In the fourth quarter of 2021, MINIject got clearance for the Conformité Européenne (CE) marking, allowing it to be on sale in several European nations as early as 2022. To facilitate commercialization in the U.S., iSTAR Medical is presently recruiting participants in the STAR-V U.S. Premarket Approval study.

Due to the region's cheap manufacturing and R&D costs as well as its highly qualified workforce, the Asia Pacific market is anticipated to grow at a much higher CAGR over the forecast period. Furthermore, the policies set up by the government are also expected to boost the growth of the global contract development and manufacturing organization (CDMO) outsourcing market in the forecast period. For example, in India, the Union Cabinet approved yet another production-linked incentive program for pharmaceuticals at its meeting on November 11, 2020. The program's goal is to improve India's manufacturing capabilities by boosting investment and production in the industry and promoting product diversification to high-value goods in the pharmaceutical sector. One of the goals of the program is to develop Indian companies into global leaders with the capacity to scale up by utilizing cutting-edge technology and so enter global value chains. Three kinds of pharmaceutical products would be rewarded under the plan depending on their increased sales, with a budget of Rs 15,000 crore. It is suggested that the program run from 2021–2022 through 2028–2029 in duration.