Dublin, May 02, 2024 (GLOBE NEWSWIRE) -- The "Small Molecule CMO/CDMO Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global small molecule CMO/CDMO market has grown strongly in recent years. It will grow from $46.83 billion in 2023 to $50.58 billion in 2024 at a compound annual growth rate (CAGR) of 8%. The growth observed in the historic period can be attributed to several factors, including favorable government support, the adoption of cost-effective solutions, the increasing complexity in drug development processes, industry consolidation, and a strategic focus on core competencies. These elements collectively contributed to the positive trajectory and expansion of small-molecule Contract Manufacturing Organizations (CMOs) and Contract Development and Manufacturing Organizations (CDMOs) during the historic period.
The small molecule CMO/CDMO market is expected to see strong growth in the next few years. It will grow to $68.04 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to factors such as the rise in drug pipelines, globalization of pharmaceutical operations, increasing demand for flexible manufacturing solutions, expertise in regulatory compliance, and the convergence of biopharmaceuticals. Key trends expected in the forecast period include the adoption of sustainable and green manufacturing practices, increased collaboration and partnerships within the industry, a focus on personalized medicine and niche therapies, the emergence of virtual and virtual-to-reality companies, integration of digital technologies, and the implementation of rapid response manufacturing strategies.
The small-molecule CMO/CDMO market is expected to experience growth due to the rising demand for pharmaceuticals. According to reports from IQVIA Inc. in May 2021, the projected total expenditure on pharmaceuticals in the US is anticipated to range between $380 to $400 billion by 2025, reflecting a compound annual growth rate of 3% from $359 billion in 2020. This projection indicates a growing demand for pharmaceuticals and, consequently, drives the growth of the small-molecule CMO/CDMO market.
Major companies in the small-molecule CMO/CDMO market are focusing on innovative technologies to enhance CDMO services, such as the state-of-the-art small-molecule platform in Shanghai. This platform represents cutting-edge technological innovations aimed at developing and producing small-molecule drugs more efficiently. In June 2023, Porton Pharma Solutions Ltd., a China-based pharmaceutical company, launched a state-of-the-art small-molecule platform in Shanghai. This platform adopts a holistic approach by combining advanced technologies and methodologies to advance the entire lifecycle of small-molecule pharmaceuticals. It offers one-stop-shop solutions, flexibility, availability, and digital transformation.
In March 2023, Catalent Inc., a US-based pharmaceutical company, entered into a partnership with Grunentha GmbH, a Germany-based pharmaceutical company. This partnership is focused on expediting clinical development timelines for an orally dosed small molecule in Grunenthal's pipeline. The collaboration aims to improve the bioavailability of the small molecule and reduce the Phase 1 development timeline. Grunenthal GmbH is actively engaged in partnerships and agreements with contract development and manufacturing organizations (CDMOs).
North America was the largest region in the Small Molecule CMO/CDMO market in 2023. The regions covered in the Small Molecule CMO/CDMO market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the Small Molecule CMO/CDMO market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Report Scope
Markets Covered:
1) By Product: Small Molecule Drug Product; Small Molecule API
2) By Stage Type: Clinical; Commercial; Preclinical
3) By Therapeutic Area: Oncology; Neurology; Infectious Disease; Cardiovascular Disease; Respiratory Disorders; Metabolic Disorders; Other Therapeutics
4) By Application: Cardiovascular; Oncology; Diabetes; Immunological Disorders
Key Companies Mentioned: Patheon NV (Thermo Fisher Scientific); GlaxoSmithKline; Johnson Matthey plc; Lonza Group Ltd.; WuXi AppTec
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $50.58 Billion |
| Forecasted Market Value (USD) by 2028 | $68.04 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- Patheon NV (Thermo Fisher Scientific)
- GlaxoSmithKline
- Johnson Matthey plc
- Lonza Group Ltd.
- WuXi AppTec
- Catalent Inc.
- Aurobindo Pharma
- Fareva
- Aesica Pharmaceuticals Limited
- Siegfried holdings AG
- Recipharm AB
- Jubilant Life Sciences Limited
- Almac Group
- Piramal Pharma Solutions
- Oxford Chemicals Inc.
- Syngene International Limited
- Novasep
- Pfizer CentreOne
- GVK Biosciences
- ChemPartner
- Avid Bioservices Inc.
- Dishman Carbogen Amcis Ltd.
- ProChem Inc.
- Metrics Contract Services
For more information about this report visit https://www.researchandmarkets.com/r/l525c0
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
