Transparency Market Research Report Added "Healthcare CMO Market" to its database.
Albany, NY -- (SBWIRE) -- 02/05/2016 -- Several medical and pharmaceutical companies are gradually outsourcing their manufacturing operations to third-party contract manufacturers with an aim to achieve efficiency in quality, capacity, cost, and time to market. Outsourcing specific manufacturing activities to third-party service providers also helps these companies obtain expertise in certain business categories, which may not be not available in-house. Furthermore, cost benefits, increasing cost pressure, and inclination of leading pharmaceutical companies to focus on marketing and R&D have spurred the demand for outsourcing certain operations. Consequently, the enterprises can concentrate on its core competencies by minimizing the time dedicated to manufacturing operations. The global market for contract manufacturing, therefore, exhibits impressive potential and is bolstered by the rapid expansion of the medical device industry, increasing demand from emerging nations, and growing regulatory concerns.
A report published by Transparency Market Research pegs the overall value of the global market for healthcare contract manufacturing outsourcing, also referred to as CMO, at US$97.6 bn in 2012. Rising at a healthy 14.30% CAGR, the market is anticipated to reach US$246.5 bn by the end of 2019.
North America Leads Global Healthcare CMO Market
Regionally, North America held the largest share in the global healthcare CMO market in 2012. However, between 2013 and 2019, Asia Pacific is likely to exhibit the highest CAGR of all regional segments – 17.80%. The CMO market in Asia Pacific is witnessing robust growth due to favorable government regulations, the increasing adoption of the latest technologies in the healthcare and medical device sectors, and improved intellectual property rights. Additionally, factors such low cost of labor and availability of skilled professionals at comparatively low price are also aiding the growth of the healthcare CMO market in Asia Pacific. Many enterprises also venture in the Asia Pacific market lured by the tax benefits offered in the emerging economies in the region.
Get Free Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2452
Medical Device Contract Manufacturing Sees Lucrative Growth Opportunities
The global market for healthcare CMO provides services including pharmaceutical contract manufacturing and medical devices contract manufacturing. The pharmaceutical contract manufacturing segment further includes final dose formulations (FDF) manufacturing, active pharmaceutical ingredients (API) manufacturing, and packaging. Of these, the FDF manufacturing segment will exhibit robust growth in forthcoming years.
The market for pharmaceutical ingredient manufacturing has lucrative opportunities in the looming patent expiry of blockbuster drugs, which has catapulted generic drug manufacturers to the forefront of the pharmaceutical industry. Demand for generic drugs is therefore poised to increase exponentially in the forthcoming years, leading to increasing R&D investment by life science companies. With growing adoption of novel technologies, the market for healthcare CMO will gain impetus in the near future.
Likewise, the medical device contract manufacturing services segment includes final goods assembly, device manufacturing, and design outsourcing. Among the aforementioned healthcare CMO services, the segment of medical device contract manufacturing accounted for over 87.7% of the market in 2012 and is expected to grow at a rapid pace over the forthcoming years.
Mr. Sudip S
Transparency Market Research
90 State Street,
NY - 12207
USA - Canada Toll Free 866-552-3453