According to a new market report published by Transparency Market Research Healthcare CMO Market [Pharmaceutical Contract Manufacturing (Active Pharmaceutical Ingredients (API) Manufacturing, Final Dosage Formulations (FDF) Manufacturing and Packaging) & Medical Device Contract Manufacturing (Design Outsourcing, Device Manufacturing & Final Goods Assembly)]- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019, the global healthcare CMO market was valued at USD 97.66 billion in 2012 and is estimated to reach market worth USD 246.50 billion in 2019 at a CAGR of 14.3% from 2013 to 2019.
Initially, the paradigm of most of the pharmaceutical companies was vertically integrated i.e. the company itself performed all the operations required for its business. Eventually, some of the factors such as rising cost pressures, increased pressure from regulatory agencies, cost benefits and pharmaceutical companies’ desire to focus on their core competencies such as R&D and marketing have created an intense need for outsourcing their manufacturing activities and stimulated the global pharmaceutical and medical device contract manufacturing market. In addition, reduced government healthcare spending, increasing government deficits in developed nations and growing competition in medical device industry has forced many pharmaceutical and medical device companies to recalibrate their business strategies and investigate new efficiencies in product design, development, manufacturing and marketing of products.
Browse the full Healthcare CMO Market report at http://www.transparencymarketresearch.com/healthcare-cmo-market.html
Moreover, rising number of patients undergoing medical surgical procedures, expiration of blockbuster drugs, increasing disease incidences coupled with increased preference for innovative treatment therapies further propels the demand for pharmaceutical and medical device contract manufacturing services. The strategic...