The North American healthcare CDMO market is projected to grow at a significant CAGR during the forecast period (2020-2026). The market is mainly driven due to significant growth in pharmaceutical contract manufacturing in the US and Canada. Outsourcing the manufacturing services in the pharmaceutical industry enables the companies to divert the workforce to other processing tasks, which as a result makes monetary savings and reduces the time for R&D activities. The drug development companies can save up to 30-35% of the drug development cost via contract manufacturing procedure. Therefore, to remain competitive in the market, contract manufacturing is considered crucial support for pharmaceutical companies.
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In the region, several pharmaceutical companies are focused on finding ways to minimize the cost of drugs, which in turn forced them to outsource drug manufacturing services. In January 2019, Cambrex Corp. acquired Avista Pharma Solutions to strengthen the position of Cambrex as a prominent fully integrated small molecule contract development and manufacturing organization (CDMO). Avista Pharma Solutions was a contract development, manufacturing, and testing organization. Avista’s four sites in Durham, NC, Longmont, CO, Agawam, MA, and Edinburgh, Scotland, UK will be integrated into the global network of Cambrex. This will expand the company’s geographical presence and strengthen its manufacturing capabilities.
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North American healthcare CDMO Market – Segmentation
By Services
Contract Development
· Clinical
· Preclinical
· Laboratory Services
Contract Manufacturing
· Active Pharmaceutical Ingredients (API)
· Finish Dosage Formulations
· Medical Devices
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
