World News: 07:27 GMT Wednesday 14th August 2019. [Orbis Research via Globe Newswire via SPi World News]
Dallas, Texas, Aug. 14, 2019 (GLOBE NEWSWIRE) -- The CDMO industry started out decades ago as a niche service, offering additional manufacturing capacity or specialty services to pharmaceutical companies. The rise of the CDMOs was fueled by failure stories in the pharmaceutical industry. In the past, pharmaceutical companies often installed dedicated manufacturing capacities for innovative drugs in development, only to see them fail during phase III of clinical research trials. Thus, the additional manufacturing capacity for the specific drugs was no longer needed.
Contract development and manufacturing organizations are fetching lucrative returns at the backdrop of growing initiatives by pharmaceutical companies to outsource large scale drug development as well as clinical trials, in a bid to limit hefty operational investments. Additionally, delegating such resource intensive activities have played vital roles in exploiting superlative talent pools and high end professional expertise to materialize vital clinical trials pertaining to novel drug discovery. On the back of aforementioned factors, the global contract development and manufacturing organizations market is poised to remain thoroughly lucrative in the coming years, opines Orbis Research in its recently collated report offering titled, ‘Global Contract Development and Manufacturing Organizations (CDMOs) Market History and Forecast 2014-25’ included in its growing online data archive.
Key players covered in the report are Recipharm, AMRI3, Patheon, Aenova, Catalent, Amatsigroup, WuXi PharmaTech, Strides Shasun, Piramal, and Siegfried
Burgeoning advances in pharmaceutical and biotechnology companies and their ongoing efforts to diversify drug potential and new chemical entities catering to accelerating disease conditions and subsequent fatality have lent ample growth thrust to global contract development and manufacturing organizations market. Additionally, favorable cooperation on the part of FDA in the form of remunerative fund allocation to leverage palpable progress in clinical researches have encouraged pharmaceutical companies to establish long term commitments with various contract manufacturers to fasten drug manufacturing across regions.
With surged reliance on contract development and manufacturing entities, drug manufacturers incur palpable benefits such as marked reduction in operational expenditure. This has reflected favorably on revenue sustainability, thus instrumenting substantial momentum in rapid adoption and eventual growth in global contract development and manufacturing market worldwide.
With a significantly large aging population, the pharmaceutical industry is witnessing a sharp paradigm shift towards development of new chemical entities (NCE) and drugs favoring prompt medical aid to a rapidly thwarting rare disease occurrence and subsequent mortality. To favor this growing quest for advanced drug formulation, the US FDA has recently affirmed its initiative to allocate a total of 12 updated grants worth a total of $18m exclusively dedicated towards rare disease clinical trials.
Orphan disease and rare diseases have in recent years garnered a lot of attention owing to substantially high terminal outcome. this has led to spearheading dedicated initiatives towards specific drug discovery to eradicate and effectively manage orphan diseases.
However, orphan drug development is a time consuming investment with low potency to fetch desirable research outcome, especially with small population participants. Hence, pharma companies are of late highly motivated to render various orphan drug clinical researches to professional contract development and manufacturing organizations (CDMO) who are equipped with sophisticated technology as well as skilled manpower to attain path breaking advances in novel drug making, paving way for fresh deals amongst biotech and contract development and manufacturing entities.
Industry forerunners in drug development are rapidly establishing partnership deals with promising contract development and manufacturing organizations to further register substantial progress in drug development for wide spread categories of rare diseases. To cite an instance, the CDMO offshoot of pharmaceutical behemoth, Boehringer Ingelheim, BioXcellence has been chosen to provide CANbridge Life Sciences, a China based biotechnology company with relevant clinical trial resources targeted for phase III clinical trials for a novel drug candidate for esophageal therapeutics.
This report studies the Contract Development and Manufacturing Organizations (CDMOs? market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Globe Newswire: 07:27 GMT Wednesday 14th August 2019
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