PUBLISHER: The Business Research Company | PRODUCT CODE: 1526844
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526844
A topical drugs contract development and manufacturing organization (CDMO) is a specialized company that offers comprehensive services for developing, formulating, and producing topical pharmaceuticals. These services encompass research and development, clinical trial material production, and commercial manufacturing. CDMOs assist pharmaceutical companies in bringing topical drug products to market efficiently and in compliance with regulations.
The main product types offered by topical drug CDMOs include semi-solid formulations, liquid formulations, solid formulations, and transdermal products. Semi-solid formulations consist of creams, ointments, gels, and pastes designed for topical application. Various service types provided include contract development and contract manufacturing for therapeutic areas such as dermatology, pain management, wound care, and ophthalmology, among others. The end-users of these services include pharmaceutical companies, biopharmaceutical companies, and others.
The topical drug contract development and manufacturing organization (CDMO) market research report is one of a series of new reports from The Business Research Company that provides topical drug contract development and manufacturing organization (CDMO) market statistics, including topical drug contract development and manufacturing organization (CDMO) industry global market size, regional shares, competitors with a topical drug contract development and manufacturing organization (CDMO) market share, detailed topical drug contract development and manufacturing organization (CDMO) market segments, market trends and opportunities, and any further data you may need to thrive in the topical drug contract development and manufacturing organization (CDMO) industry. This topical drug contract development and manufacturing organization (CDMO) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The topical drugs contract development and manufacturing organization (CDMO) market size has grown rapidly in recent years. It will grow from $45.47 billion in 2023 to $52.9 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth during the historic period can be attributed to several factors, including the prevalence of chronic diseases, advancements in drug delivery technologies, cost-efficient outsourcing, regulatory demands, and the expansion of the dermatology and cosmetics sectors.
The topical drugs contract development and manufacturing organization (CDMO) market size is expected to see rapid growth in the next few years. It will grow to $97.26 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to the expansion of personalized medicine and biologics, increased R&D investments, rising prevalence of skin disorders, and advancements in manufacturing technologies. Major trends during this period include the increasing demand for innovative formulations, advancements in drug delivery technologies, rising investments in dermatological research, a surge in outsourcing by pharmaceutical companies, a focus on personalized medicine, stringent regulatory requirements necessitating specialized expertise, and growing consumer preference for over-the-counter (OTC) skincare products.
The increasing prevalence of skin diseases is expected to drive the growth of the topical drugs contract development and manufacturing organization (CDMO) market in the future. Skin diseases are medical conditions affecting the skin, causing symptoms such as inflammation, itching, and lesions. The rising prevalence of skin diseases can be attributed to factors such as environmental pollution, UV radiation exposure, genetic predisposition, lifestyle changes, and microbial infections. Topical drugs CDMOs help reduce skin disease prevalence by developing and manufacturing targeted therapies that improve the management and treatment of dermatological conditions. For example, in January 2024, Cancer Australia, an Australian-based cancer control agency, reported a significant increase in skin melanoma cases between 2019 and 2023, with numbers rising from 15,628 to 18,257. Additionally, in 2019, males had 9,134 cases compared to 6,494 females, while by 2023, the numbers had risen to 10,639 males and 7,618 females. Therefore, the increasing prevalence of skin diseases is driving the growth of the topical drugs CDMO market.
Major companies in the topical drugs CDMO market are focused on developing state-of-the-art manufacturing facilities to maintain their market position. A state-of-the-art manufacturing facility is a specialized production site equipped with the latest technology and advanced processes tailored for the development and manufacturing of topical pharmaceutical products. For instance, in November 2023, SOHM Inc., a US-based pharmaceutical company, launched a CDMO GMP manufacturing facility. The new Carlsbad facility will offer ample space for manufacturing topical products and SOHM's operations, with 2,500 square feet dedicated to storing finished products. Initially, it will have a daily capacity of 500 gallons (1,892 liters) for manufacturing topicals. By the end of Q1 2024 or the start of Q2 2024, it is expected to expand its capacity to include soft-gel suppositories.
In April 2024, CoreRx Inc., a US-based pharmaceutical company, acquired Societal CDMO Inc. for $130 million. The acquisition is set to enhance CoreRx into a stronger CDMO, expanding its services from early-stage development to commercial manufacturing. It will streamline operations, increase market share, and provide long-term benefits such as improved economies of scale, better R&D, and a stronger competitive position. Societal CDMO Inc. is a US-based contract development and manufacturing organization that specializes in developing and manufacturing novel drug delivery formulations.
Major companies operating in the topical drugs contract development and manufacturing organization (CDMO) market are Evonik Industries AG, Eurofins Scientific SE, SGS SA, The Lubrizol Corporation, Lonza Group AG, Catalent Inc., Bora Pharmaceuticals Co. Ltd., Recipharm AB, Pierre Fabre S.A., Piramal Pharma Solutions, Cambrex Corporation, LTS Lohmann Therapie-Systeme AG, PCI Pharma Services, Famar S.A., Contract Pharmaceuticals Limited, UPM Pharmaceuticals Inc., CoreRx Inc., Halo Pharmaceutical Inc., Tapemark Company, Groupe PARIMA Inc., MedPharm Ltd, Tergus Pharma LLC, Dow Development Laboratories LLC, NextPharma Technologies Holding Limited, Tedor Pharma Inc.
Asia-Pacific was the largest region in the topical drugs contract development and manufacturing organization (CDMO) market in 2023. The regions covered in the topical drugs contract development and manufacturing organization (CDMO) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the topical drugs contract development and manufacturing organization (CDMO) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The topical drugs contract development and manufacturing organization (CDMO) market consists of revenues earned by entities by providing services such as commercial manufacturing, research and development (R&D), regulatory support, and product lifecycle management. The market value includes the value of related goods sold by the service provider or included within the service offering. The topical drugs contract development and manufacturing organization (CDMO) market also includes sales of creams, ointments, gels, and lotions. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Topical Drugs Contract Development And Manufacturing Organization (CDMO) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on topical drugs contract development and manufacturing organization (cdmo) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for topical drugs contract development and manufacturing organization (cdmo) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The topical drugs contract development and manufacturing organization (cdmo) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.