Contract manufacturing organization (CMO) also known as contract
development and manufacturing organization is a company that serves several
other companies in the medical devices as well as pharmaceutical and
biopharmaceutical sector with comprehensive services from development,
manufacturing to packaging. These services are outsourced by various OEM
players in the business in order to help with the scalability, and save
marginally on production costs. The growth of the global healthcare CMO market
is attributed to the increasing inclination of pharmaceutical and medical
device manufacturers towards outsourcing, increasing patent cliffs, rising
geriatric population coupled with the increasing production of drugs &
medical device. However, lack of skilled professionals is the major factor
hindering the market growth.
The global healthcare CMO market is
expected to witness substantial growth. The COVID-19 has affected economies and
industries in various countries due to lockdowns, travel bans, and business
shutdowns. The COVID-19 crisis has overburdened public health systems in many
countries and highlighted the strong need for sustainable investment in health
systems. As the COVID-19 pandemic progresses, the healthcare industry is expected
to see a drop in growth. The life sciences segment thrives due to increased
demand for in vitro diagnostic products and rising research and development
activities worldwide. However, the medical technologies and imaging segment is
witnessing drop in sales due to a smaller number of surgeries being carried out
and delayed or prolonged equipment procurement. Additionally, virtual
consultations by healthcare professionals are expected to become the mainstream
care delivery model post-pandemic. With telehealth transforming care delivery,
digital health will continue to thrive in coming years. In addition, disrupted
clinical trials and the subsequent delay in drug launches is also expected to
pave the way for entirely virtual trials in the future. New technologies such
as mRNA is expected to emerge and shift the pharmaceutical industry and market
is also expected to witness more vertical integration and joint ventures in
coming years.
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Leading Healthcare CMO Market Players:
- Royal DSM
- Catalent,
Inc
- Boehringer
Ingelheim International GmbH
- Recipharm AB
(publ)
- Fareva
- Lonza
- Piramal
Enterprises Ltd
- Dr. Reddy’s
Laboratories Ltd.
- Almac Group
- FAMAR Health
Care Services.
Segmentation:
Global
healthcare CMO market, based on service was segmented as, pharmaceutical
contract manufacturing services and medical device contract manufacturing
services. In 2018, the pharmaceutical contract manufacturing services held the
largest share of the market, by service. Additionally, the segment is also
expected to grow at the fastest CAGR during the forecast period owing to
advantaged offered by the contract manufacturing companies.
The market for healthcare CMO is expected to grow
significantly due to factor as increasing inclination of pharmaceutical and
medical device manufacturers towards outsourcing, increasing patent cliffs and
rising geriatric population coupled with the increasing production of drugs
& medical devices. However, the challenge such as lack of skilled
professionals for CMO likely to impact the growth of the market in the forecast
period.
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Healthcare CMO Market Segmented by Region/Country: North
America, Europe, Asia Pacific, Middle East & Africa, and Central &
South America
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