Contract Manufacturing Outsourcing of Sterile Injectable Drugs Market to Surpass US$24.2 Billion by 2024

In a recent market report, it has been predicted that the Contract Manufacturing Outsourcing (CMO) of Sterile Injectable Drugs Market is poised to exceed US$24.2 billion by 2024, with robust revenue growth anticipated through 2034. The comprehensive report, “Contract Manufacturing Outsourcing (CMO) of Sterile Injectable Drugs Market Report 2024-2034,” sheds light on key market dynamics, driving factors, restraining factors, and opportunities shaping the future of the industry.

The market’s growth is attributed to increasing investments in pharmaceutical research and development (R&D), coupled with a rising demand for biological drugs. Pharmaceutical companies, including industry giants like Roche, Pfizer, Merck, and Bristol-Myers Squibb, are allocating a substantial portion of their annual revenue to R&D efforts. The surge in R&D spending, particularly in early-stage development and preclinical services, is driving the demand for Contract Manufacturing Outsourcing (CMO) of Sterile Injectable Drugs.

The report underscores the challenges posed by high operational costs in the industry, with the production of sterile medications requiring the use of advanced equipment. Stringent FDA requirements further contribute to the significant operational cost burden, potentially impeding the growth of the CMO market. Despite these challenges, the market is expected to witness opportunities, including the lucrative prospects offered by prefilled syringes and the expanding clinical trial landscape in the Asia Pacific region.

Key Market Dynamics:

Market Driving Factors:

1.        Growing Focus on Development to Treat Cancer

2.        Rising Prevalence of Chronic Diseases

3.        Rapid FDA Approvals of Sterile Injectable Drugs

4.        Investments in New Manufacturing Facilities

5.        Increasing Demand for Biological Drugs

6.        Growing Investments in Pharmaceutical R&D

Market Restraining Factors:

1.        Growing Competition from Small Manufacturers

2.        High Operational Costs

3.        Inadequate Healthcare Infrastructure Across Developing Economies

Market Opportunities:

1.        Prefilled Syringes Offering Lucrative Growth Prospects

2.        Growing Investments

3.        Expanding Clinical Trial Opportunities in the Asia Pacific Region

The report provides detailed forecasts up to 2034 and offers analyses of various segments, including molecule type, type, application, container type, route of administration, and service. Additionally, it includes revenue predictions for five regional and 18 leading national markets.

The profiles of leading companies in this segment are also covered, with a focus on their operations:

•          Adare Pharma Solutions

•          Aenova Group

•          Almac Group

•          Avara Pharmaceutical Services

•          Boehringer Ingelheim International

•          Catalent

•          CordenPharma International

•          Evonik Industries

•          F. Hoffmann-La Roche

•          FAMAR Health Care Services

•          Fresenius Kabi

•          Grifols

•          Hikma Pharmaceuticals

•          Jubilant Pharmova

•          Lilly

•          Lonza

•          Nexus Pharmaceuticals

•          Patheon Pharma Services

•          Pfizer

•          Piramal Pharma Solutions

•          Recipharm

•          Siegfried Holding

•          Vetter Pharma

•          Wuxi AppTec

Related posts:

Global Pharmaceutical Contract Manufacturing Market Report 2023-2030 Pharmaceutical Contract Research and Manufacturing Market size is set to grow by USD 121.35 billion from 2022-2027 Sterile Dosage Form Market Anticipated to Reach US$ 1.1 Billion by 2033, Driven by Rising Demand for Infection-Free Medical Products | Future Market Insights, Inc. Global Injectable Drug Delivery Market Projected to Reach USD 58.90 Billion by 2030