US healthcare CDMO market is projected to grow at a significant CAGR during the forecast period (2020-2026). The outsourcing services is one of the fastest-growing markets within the pharmaceutical and biotechnology industries and the contract manufacturing segment represents a significant portion of the outsourcing market. There has been a significant shift in the way companies are looking to outsource and this differs significantly across tiers and types of companies.
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Pharmaceutical contract manufacturing in the US is fueled by an increase in biotechnology companies. These companies are dedicated to developing drug compounds for specific therapeutic areas. However, these companies lack infrastructure in the areas of formulation, clinical and regulatory agency submission.
With the biotechnology and pharmaceutical industries striving for cost minimization and profit maximization, outsourcing production has become an ever-increasing trend as these are striving for cost minimization and profit maximization. The US is one of the largest pharmaceutical industries, is dependent on other countries for products such as the countries in the Asia-Pacific region. A shift has been observed to outsource manufacturing capabilities to CDMOs in the Asia-Pacific region, specifically in India. Cost benefits owing to low labor costs and capital expenditures are the key reasons for outsourcing to the Asia-Pacific region. Hence, the CDMOs, by providing low-services and without compromising with the quality, may create ample opportunity for the growth of the market in the near future.
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US healthcare CDMO Market – Segmentation
- Laboratory Services
- Active Pharmaceutical Ingredients (API)
- Finish Dosage Formulations
- Medical Devices
- AbbVie Inc.
- Baxter International, Inc.
- Catalent Inc.
- Covance Inc.
- Cambrex Corp.
- Hisun Pharmaceuticals Inc.
- Jabil Inc.
- Pfizer Inc.
- Stason Pharmaceuticals, Inc.
- Thermo Fisher Scientific Inc.
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