Small Molecule Innovator CDMO Market Size Report by Product (Small Molecule API, Small Molecule Drug Product), Stage Type, Customer Type, Therapeutic Area, Region, and Segment Forecasts, 2024-2030
Dublin, March 15, 2024 (GLOBE NEWSWIRE) -- The "Global Small Molecule Innovator CDMO Market Size, Share & Trends Analysis Report by Product (Small Molecule API, Small Molecule Drug Product), Stage Type, Customer Type, Therapeutic Area, Region, and Segment Forecasts, 2024-2030" report has been added to * ResearchAndMarkets.com's* offering.
The global small molecule innovator CDMO market size is expected to reach USD 74.9 billion by 2030, expanding at a CAGR of 6.21% from 2024 to 2030, according to the report. There is a growing interest among pharmaceutical companies in outsourcing to support core competencies such as sales, marketing, and others, due to associated cost savings. Furthermore, outsourcing enables companies to further progress core competencies such as drug development and manufacturing activities. Hence, expansions by small molecule CDMOs in recent years promise major support for the market growth in the upcoming years.
Small molecules continue to play an important role in the development of new treatments globally. Specialty medicines are increasingly driving global pharmaceutical manufacturing growth, particularly in developed markets with small molecule application accounting for over half of specialty sales. The application of small molecules are becoming increasingly complex.
The majority of solutions in the regulatory approval pipeline are made up of poorly soluble compounds that would require enabling technology to progress to clinical trials and beyond. As therapy targets and focus areas become more specific, creating target product profiles has become increasingly difficult. Failure to achieve appropriate bioavailability is an additional stumbling block in the development of many new chemical entities. These factors are expected to support the overall market growth.
The geriatric population is expected to witness a surge in the coming years. For instance, the WHO estimates that there will be more than 2 billion people aged 60 and over by 2050. This would create a lot of opportunities for the development of new small-molecule drugs, which is expected to support the market growth in the post-pandemic period.
*Small Molecule Innovator CDMO Market Report Highlights*
· The small molecule API segment is anticipated to register the fastest CAGR over the forecast period. This growth can primarily be attributed to the high approval rate of NME small molecules by regulatory agencies· The clinical stage segment dominated the market with 55.0% of the revenue share in 2023. CDMOs offer specialized expertise, time-saving, and cost-efficiency during clinical procedures. This is expected to augment the segmental growth over the forecast period· Based on customer type, the pharmaceutical companies segment held the largest share of 93.98% in 2023. The growing focus on pharmaceutical companies to focus on core competencies, such as sales and adoption of expansion strategies by CDMOs for manufacturing small molecule drugs, are promoting the segment's market growth· The oncology segment dominated the market with 42.09% of the revenue share in 2023, and it is anticipated to register the fastest CAGR over the forecast period. A significant number of oncology drugs in the regulatory approval pipeline is one of the major factors supporting the segment's growth
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 119
Forecast Period 2023 - 2030
Estimated Market Value (USD) in 2023 $48.6 Billion
Forecasted Market Value (USD) by 2030 $74.9 Billion
Compound Annual Growth Rate 6.2%
Regions Covered Global*Companies Profiled*
· Lonza
· Patheon (Thermo Fisher Scientific)
· Cambrex Corporation
· Catalent, Inc
· Siegfried Holding AG
· Recipharm AB
· CordenPharma International
· Boehringer ingelheim
· Piramal Pharma Solutions
· Labcorp Drug DevelopmentFor more information about this report visit https://www.researchandmarkets.com/r/az338l
*About ResearchAndMarkets.com*
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*Attachment*
· Global Small Molecule Innovator CDMO Market
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