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

Contract Development And Manufacturing Organization (CDMO) Outsourcing Market Driver

• Owing to expanding acceptance of a westernized lifestyle, rising economic development, and rising population, the burden of chronic illnesses is rising significantly over the world. About 133 million Americans suffer from chronic illnesses, accounting for more than 40% of the nation's population and being typically incurable and continuous. It is anticipated that by 2020, there would be 157 million people worldwide, 81 million of whom will have various illnesses. Around 8% of children aged 5 to 17 reported having limited activities because of at least one chronic illness or impairment, while around 50% of adults report having a chronic condition.
• Many CDMOs are placing a major emphasis on capital investments to create innovative chemicals and broaden their geographic reach. For instance, the global biopharmaceutical giant AbbVie expanded its production capabilities today by launching the Singapore manufacturing site's small molecule active pharmaceutical ingredient (API) facility. The development of AbbVie's cancer and women's health pipeline is supported by and reflected in this facility.
• Additionally, another significant driver projected to fuel the global contract development and manufacturing organization (CDMO) outsourcing market expansion during the forecast period is a rise in the number of new players entering the market through partnerships. For instance, Cugene Inc. and AbbVie announced an exclusive worldwide license option agreement for CUG252, a potential best-in-class Treg-selective IL-2 mutein, and other novel IL-2 muteins, for the potential treatment of autoimmune and inflammatory diseases. Cugene Inc. is a clinical-stage biotechnology company focused on developing next-generation precision immunology and oncology medicines to treat autoimmune diseases and cancer.

Contract Development And Manufacturing Organization (CDMO) Outsourcing Market Restraint

• The primary factors most likely to impede the growth of the CDMO market during the projected period are the existence of stringent government restrictions and the decline in the approval of numerous small molecules and biologics in developed countries. Additionally, small-scale CDMOs without cutting-edge machinery are more likely to have process mistakes, poor quality, and increasing price issues, which are anticipated to restrain the market's expansion.