iCrowd Newswire – Jul 27, 2020
Healthcare CMO Market is expected to reach US$ 223,355.6 Mn in 2027 from US$ 80,479.4 in 2018. The market is estimated to grow with a CAGR of 12.2% from 2019-2027. The report highlights the trends prevalent in the global healthcare CMO market and the factors driving the market along with those that act as challenges to its growth.
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.
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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.
Key Players Influencing the Market:
- Royal DSM
- Catalent, Inc
- Boehringer Ingelheim International GmbH
- Recipharm AB (publ)
- Piramal Enterprises Ltd
- Dr. Reddy’s Laboratories Ltd.
- Almac Group
- FAMAR Health Care Services
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Healthcare CMO Market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Healthcare CMO Market segments and regions.
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Scope of the study:
The research on the Healthcare CMO Market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Healthcare CMO Market on the basis of end user, product type, application, and demography for the forecast period 2020–2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
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Keywords: Healthcare CMO Market, Healthcare CMO Market Growth, Healthcare CMO Market Analysis, Healthcare CMO Market Share, Healthcare CMO Market Forecast, Healthcare CMO Market Trend, Healthcare CMO