WILMINGTON, Del., Dec. 6, 2022 /PRNewswire/ -- The increasing trend of outsourcing in several industries related to healthcare domain, such as life sciences, biotech, and pharmaceuticals, is boosting growth within the healthcare CMO market. Companies operating in these domains, including medical devices manufacturing, as well as API or active pharmaceutical ingredient manufacturing are increasingly outsourcing their manufacturing processes to save time and lower the costs. The medical device contract manufacturing services recorded substantial growth during the forecast years, achieving the largest share of the market i.e., 87.7%.
Apart from contract manufacturing of medical devices, the industry players offer various contract manufacturing services. These include pharmaceutical contract manufacturing services, such as manufacturing of active pharmaceutical ingredients, manufacturing of final dose formulations, and manufacturing of packaging solutions. Sub-segments of the medical device contract manufacturing services include final goods assembly, manufacturing of medical devices, and outsourcing of designing processes.
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Healthcare CMO Market ? Key Findings of the Report
Healthcare CMO Market ? Growth Drivers
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Healthcare CMO Market ? Key Players
Some of the dominant players operating in the global healthcare CMO market include Catalent Pharma Solutions, Inc., Fareva, Patheon, Inc., Accellent, Greatbatch, Inc., Teleflex MedOEM, Donatelle, Boehringer Ingelheim GmbH, DSM, Lonza Group, Piramal Healthcare, Symmetry Medical, inc., Memry Corporation, and Admedes Schuessler.
Healthcare CMO Market: Regional Growth Assessment
North America CMO healthcare market size recorded highest in 2012. However, the future demand analysis of healthcare CMO market finds that the Asia Pacific recorded the highest growth rate over the forecast period of 2013 to 2019. One of the key drivers favoring the Asia Pacific market expansion is the presence of various progressive and favorable regulations and guidelines by regional governments.
Other notable drivers behind the considerable expansion of the Asia Pacific regional market include improvements in the legislation regarding protection rights for safeguarding valuable intellectual property. Along with this, the rising adoption of novel healthcare technologies by healthcare facilities and stakeholders is also boding well for the market growth in Asia Pacific.
Healthcare CMO Market: Segmentation
Healthcare CMO Market, by Service
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