The Healthcare CMO market has experienced several service launches, expansion, mergers and acquisition, and other developmental activities that has resulted into organic growth strategies for the respective companies.
The healthcare CMO is a well-established market in nature with consisting of the good and enormous number of players, having considerable revenue in the market. Most of the companies operating in the healthcare CMO market are offering their services to the pharmaceutical and medical device companies in the North American, European, Asia Pacific, Middle East, African and South and Central American regions. The CMO have expanded their production facilities in these regions and also have a tough competition by the existing players of these regions.
The most notable market participants are Royal DSM, Catalent, Inc, Boehringer Ingelheim International GmbH, Recipharm AB (publ), Fareva, Lonza, Piramal Enterprises Ltd, Dr. Reddy’s Laboratories Ltd., Almac Group, and FAMAR Health Care Services occupying a considerable share of the market owing to their service offerings to the companies.
Market leaders are involved in activities such as, acquisitions & mergers and service launches. For instance, In June, 2018, Lonza expanded its late-stage clinical and commercial encapsulation capabilities for solid oral and inhaled dosage forms in North America. And the other instance took place in April, 2018 Almac Group expanded its US commercial packaging capabilities at its Audubon, PA facility.
The market has experienced several service launches, expansion, mergers and acquisition, and other developmental activities that has resulted into organic growth strategies for the respective companies.
The product launches done by the operating players in the healthcare CMO market include Almac Group launched a second stream for High Throughput GMP Peptide manufacturing in 2019 and Boehringer Ingelheim initiated a capacity expansion at its commercial manufacturing site for biologics in China.
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