PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1524275
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1524275
Global Active Pharmaceutical Ingredient CDMO Market size is predicted to record 6.6% CAGR from 2024 to 2032, due to the surging R&D initiatives amidst the increasing demand for generic drugs. These organizations are innovating active pharmaceutical ingredient API synthesis and process optimization to enhance drug efficacy and production efficiency.
The rising demand for generic drugs is also driving CDMOs to expand their capabilities and capacities to meet the global pharmaceutical needs. Growing efforts on developing cost-effective and high-quality APIs for leveraging advanced technologies like continuous manufacturing and green chemistry will drive the industry growth. For instance, in March 2022, Sumitomo Chemical Co., Ltd. announced the construction of a new manufacturing plant for APIs, scheduled to come on stream in September 2024, to enhance its capacity to supply high-quality APIs and intermediates for small molecule drugs.
The active pharmaceutical ingredient CDMO market is segregated into product, indication, drug, workflow, application, end-use, and region.
By product, the biological APIs segment is estimated to rise at a significant rate from 2024 to 2032, due to the growing demand for biologic drugs. CDMO's are leveraging advanced biotechnological processes to manufacture complex biological molecules, such as monoclonal antibodies and recombinant proteins. There have also been innovations in bio-processing techniques to improve yields, purity, and scalability of biological APIs.
Active pharmaceutical ingredient CDMO industry from the veterinary application segment is expected to expand from 2024 to 2032 owing to the strong need for addressing the increasing need for effective animal health products. This has led to the higher development and manufacturing of APIs specifically for veterinary medicines including antibiotics, anti-parasitic, and vaccines. API CDMOs also leverage advanced technologies to improve the efficacy and safety of veterinary drugs.
Regionally, the Europe active pharmaceutical ingredient CDMO industry size is projected to witness robust growth between 2024 and 2032, propelled by the globalization of pharmaceutical supply chains and stringent regulatory compliance requirements. CDMO's in the region are enhancing their manufacturing processes to ensure the seamless integration of APIs into global supply chains for meeting the diverse international standards. Surging adoption of advanced technologies and practices to maintain high-quality production standards will drive the market growth in Europe.