MarketInsightsReports has published a report entitled Global United States Pharmaceutical Contract Manufacturing Organization (CMO) Market Research Report 2021 that is a detailed observation of several aspects, including the rate of growth, technological advances and various strategies implemented by the main current market players. The report is based on a collective analysis of data, which is obtained through primary and secondary research. It provides a systematic approach to the current and prospective scenario of this market.
The US pharmaceutical contract manufacturing organization (CMO) market is expected to reach a CAGR of 5 % during the forecast period of 2021 to 2026.
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Catalent Inc., Recipharm AB, Jubilant Life Sciences Ltd, Thermo Fisher Scientific Inc. (Patheon Inc.), Boehringer Ingelheim Group, Pfizer CentreSource (Pfizer Inc.), Aenova Group, AbbVie Contract Manufacturing, Baxter Biopharma Solutions (Baxter International Inc.), Lonza Group AG, Siegfried AG and others.
Key Market Trends
Increasing Demand of API to Witness Significant Market Growth
– The demand for API manufacturing witnessed a sustained rise in the past few years, and it is expected to continue growing steadily. As of August 2019, 28% of the manufacturing facilities making APIs for the US markets are based in the United States.
– Further, the increasing prevalence of infectious diseases, cardiovascular conditions, and other chronic and genetic disorders are driving the market of API. For instance, The Alzheimer’s Association stated that an estimated 5.8 million Americans aging 65 and older have Alzheimer’s dementia in 2020. 80% are age 75 or older, and this number is predicted to reach approx 14 million, worsening the situation over the forecast period. Also, by 2050, a new case of the disease is expected to develop every 33 seconds. This significantly demands more API facility prevailing high stock.
– Furthermore, according to Hemp Business Journal, till 2022, the estimated sales of hemp-based cannabidiol (CBD) products in the United States is USD 522 million (human) and USD 125 million (pet/animal). The Wall Street investment firm estimated that in 2018, Americans spent about USD 2 billion on CBD API mostly for treating anxiety, pain, or sleep issues. By 2025, Wall Street predicts that the market value will rise to USD 16 billion. With the increasing rate of chronic pain, anxiety, inflammation, and insomnia in the United States people, this significantly supports the market growth.
– Moreover, in context to CBD, in April 2019, Emerald Health Pharmaceuticals and Lonza announced an agreement for the large expansion in the manufacturing of a new synthetic derivative of CBD for the treatment of multiple sclerosis (MS) and systemic scleroderma. Under the agreement, Lonza Pharma & Biotech focuses on synthesizing the API / drug substance (VCE-004.8) and develop the drug product (EHP-101) as liquid-filled capsules.
– Further, FDA believes the advanced manufacturing technologies could enable the US-based pharmaceutical manufacturing in regaining its competitiveness with China and other foreign countries and can potentially ensure a stable supply of drugs that are critical to the health of the US patients.
– In May 2020, Quartic.ai, and Bright Path Laboratories, a provider of continuous flow reactor technologies, signed an agreement for developing an AI-powered continuous manufacturing platform for active APIs and other small molecule drugs using Bright Path Labs continuous bioreactor and the Quartic.ai smart manufacturing technology. The US imports most of its APIs material used in domestic pharmaceutical products from foreign countries, like China and India. This combined Bright Path Labs-Quartic solution will help strengthen the country’s drug manufacturing independence and ensure a critical supply of medicines to the patients in the United States.
Injectable Dose to Witness Significant Market Share
– The increasing demand for generic drugs in the country tends to increase the market of Finished Dosage Formulation (FDF) Development. With increasing approval of Abbreviated New Drug Application (ANDA), Generics will continue to dominate prescription drug usage in the United States, rising to 92% by 2020, the source stated by IMS Institute for Healthcare Informatics. Also, an additional 146 Tentative Approvals for new drugs were also granted during the calendar year 2019 through the Food and Drug Administration (FDA).
– The rise in a number of chronic illnesses, like diabetes and cancer (with roughly 1.8 million people diagnosed with cancer in 2019 and 34 million diabetic people in the United States), has increased the requirement for injectable drug delivery. Injectable dose formulations are sterile preparations, including small- and large-volume parenterals. Small-volume parenterals are of two types: cytotoxic and non-cytotoxic.
– Owing to the robust demand for oncology and other high-potency drugs (such as antibody conjugates, steroids, and IV fluids that require quick onset of action), cytotoxic drugs (drugs used to destroy cancer cell) are expected to be the key growth driver for the injectable dose formulation segment. According to the American Cancer Society, in 2020, there will be an estimated 1.8 million new cancer cases diagnosed and 606,520 cancer deaths in the United States.
– Also, according to the American Academy of Cosmetic Dentistry’s Cosmetic Dentistry State of the Industry Survey, there was an increase in the number of patients seeking cosmetic dentistry, as well as a rise in the average production per cosmetic patient per visit. This has also driven the demand for facial dentistry in the country.? The US FDA approved the use of injectable dermal fillers based on the review of data samples collected from controlled clinical studies that evaluated the safe and effective use of wrinkle fillers when injected into particular areas of facial tissue. Additionally, botox injections have increased in the country over the years.?
– Further, the majority of leading CMOs in the United States, such as Baxter BioPharma Solutions and Vetter Pharma, has developed extensive capabilities in the injectable dose formulations segment, which is likely to experience significant growth throughout the forecast period.
– In December 2019, Dr. Reddy’s Laboratories launched Bortezomib for injection in the US market, a generic version of Velcade of Millennium Pharmaceuticals. Bortezomib is used for the treatment of adult patients with multiple myeloma or with mantle cell lymphoma who have received at least one prior therapy.
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Important Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of United States Pharmaceutical Contract Manufacturing Organization (CMO) Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of United States Pharmaceutical Contract Manufacturing Organization (CMO) Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.
Finally, the United States Pharmaceutical Contract Manufacturing Organization (CMO) Market report is the believable source for gaining Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and Market development rate and figure, and so on. This report additionally Present a new task SWOT examination, speculation attainability investigation, and venture return investigation.
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