Increasing demand for the pharmaceutical product is predicted to boost the Contract Development and Manufacturing Organization Market

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The pandemic situation has created a positive impact on the contract development and manufacturing organization market. Contract development and manufacturing organization helps in reducing the work load of the parent company. Most of the contract development and manufacturing organizations work on contractual basis. The contract development and manufacturing organizations improve the work efficiency and help in increasing the production of the main company whom they work for. Increasing demand of contract development and manufacturing organizations in the pharma industries for manifesting of drug, commercializing of drug and other operation activities is predicted to drive the market in the forecast period. The lack of control in the organization and disturbed flow of work is predicted to hamper the market in the projected period.

Our report includes:

• Technological Impact
• Social Impact
• Investment Opportunity Analysis
• Pre- & Post-COVID Market Scenario
• Infrastructure Analysis
• Supply Side & Demand Side Impact

As per a new report published by Research Dive, the Contract Development and Manufacturing Organization is set to generate a revenue of $315.7 billion by 2026, at a CAGR of 12.4% during the forecast period from 2019 to 2026. The segmentation of the market has been done on the basis of services and region. The report provides in-depth insights on drivers, vital segments, opportunities, restraints, and key players of the market. 

Factors Affecting the Market Growth

As per our analysts, increasing demand for pharmaceutical products is estimated drive the contract development and manufacturing organization market. Moreover, the lack of control in the operational activities in the organization is predicted to be the major restraint for the market in the forecast period. 

Contract manufacturing organization is predicted to have the maximum share

On the basis of service, CDMO market is classified into contract research organization and contract manufacturing organization. Contract manufacturing organization segment generated a revenue of $92.6 billion in 2018 and is estimated to grow at a CAGR of 12.1% in the projected timeframe. The segment is predicted to grow with the rise in the pharma industries as it is mostly used for developing of drugs, commercializing of drugs, and trials of drugs. 

Regional Breakdown of the Market 

On the basis of region, the global CDMO market is segmented into North America, Europe, Asia Pacific, and LAMEA. Asia-Pacific market generated a revenue of $31.7 billion in 2018 and is estimated to grow at a CAGR of 13.2% in the forecast period. Existence of many companies and availability of the labor at a lesser cost the region is estimated to boost the region market in the estimated period.

Major Market Players

Some of the key players in contract development and manufacturing organization market include Thermo Fisher Scientific Inc, The Lubrizol Corp, Siegfried Holding AG, Recipharm AB, Lonza Group Ltd, FAREVA SA, FAMAR Health Care Services, Catalent Inc, Almac Group Ltd and Aenova Holding GmbH, among others.