Advanced Therapy Medicinal Products Contract Development And Manufacturing Organization (CDMO) Market Analysis 2024
Advanced Therapy Medicinal Products Contract Development And Manufacturing Organization (CDMO) Global Market Report
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON , UK, July 25, 2024 /EINPresswire.com/ -- The advanced therapy medicinal products contract development and manufacturing organization (CDMO) market has experienced robust growth in recent years, expanding from $4.55 billion in 2023 to $5.30 billion in 2024 at a compound annual growth rate (CAGR) of 16.7%. The growth in the historic period can be attributed to the increasing number of ATMP clinical trials, rising awareness and belief among researchers regarding the benefits of advanced therapy, the presence of several ATMP CDMOs, increasing efforts to develop novel therapies for various diseases, and supportive government initiatives.
Strong Future Growth Anticipated
The advanced therapy medicinal products contract development and manufacturing organization (CDMO) market is projected to continue its strong growth, reaching $9.85 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to the high investment of CDMOs, a growing number of emerging players in the cell and gene therapy (CGT) sector, increasing grants and investments for the development of cell and gene therapies, increasing pharmaceutical R&D spending, increasing number of clinical trials for ATMPs.
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Growth Driver Of The Advanced Therapy Medicinal Products Contract Development And Manufacturing Organization (CDMO) Market
The increasing number of clinical trials is expected to propel the growth of the advanced therapy medicinal products CDMO market going forward. Clinical trials are research studies conducted in humans to evaluate the safety and efficacy of medical interventions such as drugs, treatments, devices, or preventive measures. Clinical trial numbers are rising to meet the increasing demand for innovative treatments and to address a growing global disease burden. With the use of advanced therapy medicinal products, the demand for CDMO manufacturing services rises, leveraging specialized expertise and infrastructure. Clinical trial data aids in optimizing manufacturing, ensuring scalability, and quality maintenance to meet larger clinical and commercial needs.
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CDMO Major Players And Market Trends
Key players in the advanced therapy medicinal products contract development and manufacturing organization (CDMO) market include Thermo Fisher Scientific Inc., Merck KGaA, Resonac Corporation, Lonza Group AG, Catalent Inc., Charles River Laboratories International Inc.
Major companies operating in the advanced therapy medicinal products CDMO market are developing advanced cell therapy manufacturing services to overcome critical issues in cell therapy manufacturing and speed the development activities of their partners. Cell therapy manufacturing services are contract development and manufacturing organization services that offer services which vary from early preclinical development to late-stage clinical trials and commercialization.
CDMO Market Segments:
1) By Product: Gene Therapy, Cell Therapy, Tissue Engineered
2) By Phase: Phase I, Phase II, Phase III, Phase IV
3) By Indication: Oncology, Cardiology, Central Nervous System And Musculoskeletal, Infectious Disease, Dermatology, Endocrine, Metabolic, Genetic, Immunology And Inflammation, Ophthalmology, Hematology
Geographical Insights: North America Leading The Market
North America was the largest region in the advanced therapy medicinal product contract development and manufacturing organization (CDMO) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced therapy medicinal products contract development and manufacturing organization (CDMO) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Advanced Therapy Medicinal Products Contract Development And Manufacturing Organization (CDMO) Market Definition
An advanced therapy medicinal product contract development and manufacturing organization (CDMO) is a specialized service provider that assists in the development and manufacturing of advanced therapy medicinal products. The objective of an advanced therapy medicinal product CDMO is to provide the expertise, infrastructure, and resources required for advanced therapy medicinal product development and manufacturing.
Advanced Therapy Medicinal Products Contract Development And Manufacturing Organization (CDMO) Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Advanced Therapy Medicinal Products Contract Development And Manufacturing Organization (CDMO) Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on advanced therapy medicinal products contract development and manufacturing organization (CDMO) market size, advanced therapy medicinal products contract development and manufacturing organization (CDMO) market drivers and trends, advanced therapy medicinal products contract development and manufacturing organization (CDMO) market major players, advanced therapy medicinal products contract development and manufacturing organization (CDMO) competitors' revenues, advanced therapy medicinal products contract development and manufacturing organization (CDMO) market positioning, and advanced therapy medicinal products contract development and manufacturing organization (CDMO) market growth across geographies. The advanced therapy medicinal products contract development and manufacturing organization (CDMO) market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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