Europe Pharmaceutical Contract Development and Manufacturing Organization (CDMO) Market to Grow with a CAGR of 6.7% During 2021-2030; Market to Grow on Account of Rising Advancements in Medical Research
Kenneth Research published a report titled “Europe Pharmaceutical Contract Development and Manufacturing Organization (CDMO) Market: Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the Europe pharmaceutical contract development and manufacturing organization (CDMO) market in terms of market segmentation by category, therapeutic application, end-user, service type, and by country.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The Europe pharmaceutical contract development and manufacturing organization (CDMO) market is anticipated to grow with a CAGR of 6.7% during the forecast period, i.e., 2021-2030. The market is segmented by end-user into pharmaceutical & biopharmaceutical companies, medical device companies, and academic institutes, out of which, the pharmaceutical & biopharmaceutical companies segment is anticipated to garner the largest revenue of USD 27756.1 Million by the end of 2030. Additionally, in the year 2020, the segment registered a revenue of USD 14771.1 Million.
The Europe pharmaceutical contract development and manufacturing organization (CDMO) market is estimated to garner a revenue of USD 39920.2 Million by the end of 2030, up from a revenue of USD 21133.3 Million in the year 2020. Increasing need for high potency active pharmaceutical ingredients (HPAPI) amongst the pharmaceutical companies, followed by the surge in research and advancements in the field of medical sciences are some of the major factors anticipated to drive the growth of the market in the coming years.
Geographically, the Europe pharmaceutical contract development and manufacturing organization (CDMO) market is segmented into Germany, United Kingdom, France, Italy, Spain, Russia, and the Rest of Europe. Out of these, the market in Italy is anticipated to garner the largest revenue of USD 8942.1 Million by the end of 2030. Moreover, in the year 2020, the market in the nation generated a revenue of USD 4860.7 Million.
Growing Prevalence of Chronic Diseases to Drive the Market Growth
In the year 2018, there were 1.68 Million deaths in the European Union due to the diseases of the circulatory system, according to the statistics by the European Commission. Moreover, in one of the statistics by the World Health Organization (WHO), about 60 Million people above the age of 25 years in the region were known to have diabetes.
With the surge in the prevalence of different types of chronic diseases in Europe, there is a growing need amongst the pharmaceutical drug manufacturers to develop advanced medicines that can help to treat these deadly diseases. The European region is house to numerous pharmaceutical drug manufacturers. These organizations are also equipped with highly sophisticated infrastructure that can aid them in the development of advanced drugs. Such factors are therefore anticipated to drive the growth of the market in the coming years.
However, the stringent government regulations, and the loss of intellectual property are expected to operate as key restraint to the growth of Europe pharmaceutical contract development and manufacturing organization (CDMO) market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Europe pharmaceutical contract development and manufacturing organization (CDMO) market which includes company profiling of Hangzhou Tigermed Consulting Co., Ltd, ICON plc, IQVIA Inc., LSK Global Pharma Services Co., Ltd., Parexel International Corporation, PPD Inc., Almac Group, Quanticate International Limited, Samsung Biologics, Syneos Health, Wuxi Apptec Co., Ltd., Delpharm Holding, Evonik Industries AG, Siegfried Holding AG, Aenova Group, Baxter International, Inc., Boehringer Ingelheim International GmbH, Catalent, Inc., Famar Group, Jubilant Pharmova Limited, Lonza, CMIC HOLDINGS Co., LTD., Labcorp Drug Development, Thermo Fisher Scientific Inc., Pfizer Inc., Recipharm AB, Vetter Pharma-Fertigung GmbH & Co. KG, Charles River Laboratories International, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Europe pharmaceutical contract development and manufacturing organization (CDMO) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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