Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market Trends, Insights And Forecast To 2033

Global topical drugs contract development and manufacturing organization (cdmo) market size is expected to reach $97.26 Bn by 2028 at a rate of 16.4%, segmented as by product type, semi-solid formulations, liquid formulations drugs

Aug 28, 2024 - 16:15

Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market Trends, Insights And Forecast To 2033

A topical drugs contract development and manufacturing organization (CDMO) is a specialized company that provides comprehensive services for the development, formulation, and production of topical pharmaceuticals. These services include research and development, clinical trial material production, and commercial manufacturing. CDMOs help pharmaceutical companies bring topical drug products to market efficiently and compliantly.

Sizing and Forecast

The topical drugs contract development and manufacturing organization (CDMO) market size has grown rapidly in recent years. It will grow from $45.47 billion in 2023 to $52.9 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to chronic disease prevalence, advanced drug delivery technologies, cost-efficient outsourcing, regulatory demands, and growth in dermatology and cosmetics.

The topical drugs contract development and manufacturing organization (CDMO) market size is expected to see rapid growth in the next few years. It will grow to $97.26 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to personalized medicine, biologics expansion, increased R and D investments, rising skin disorder prevalence, and advanced manufacturing technologies. Major trends in the forecast period include increasing demand for innovative formulations, advancements in drug delivery technologies, rising investment in dermatological research, a surge in outsourcing by pharmaceutical companies, a focus on personalized medicine, stringent regulatory requirements necessitating specialized expertise, and the growing consumer preference for over-the-counter (OTC) skincare products.

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Segmentation & Regional Insights

The topical drugs contract development and manufacturing organization (CDMO) market covered in this report is segmented –

1) By Product Type: Semi-Solid Formulations, Liquid Formulations Drugs, Solid Formulations, Transdermal Products

2) By Service Type: Contract Development, Contract Manufacturing

3) By Therapeutic Area: Dermatology, Pain Management, Wound Care, Ophthalmology, Other Therapeutic Areas

4) By End-Use: Pharmaceutical Companies, Biopharmaceutical Companies, Other End-Uses

Asia-Pacific was the largest region in the topical drugs contract development and manufacturing organization (CDMO) market in 2023. The regions covered in the topical drugs contract development and manufacturing organization (CDMO) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

The increasing prevalence of skin diseases is expected to propel the growth of the topical drugs contract development and manufacturing organization (CDMO) market going forward. Skin diseases refer to medical conditions that affect the skin, causing symptoms such as inflammation, itching, and lesions. The increasing prevalence of skin diseases can be attributed to factors such as environmental pollution, UV radiation exposure, genetic predisposition, lifestyle changes, and microbial infections. Topical drugs contract development and manufacturing organization (CDMO) helps reduce skin disease prevalence by developing and manufacturing targeted therapies that improve the management and treatment of dermatological conditions. For instance, in January 2024, according to Cancer Australia, an Australian-based cancer control agency, Australia saw a significant increase in skin melanoma cases between 2019 and 2023, with numbers rising from 15,628 to 18,257. Furthermore, in 2019, males had 9,134 cases compared to 6,494 females, while by 2023, the proportions had risen to 10,639 males and 7,618 females. Therefore, the increasing prevalence of skin diseases is driving the growth of the topical drugs contract development and manufacturing organization (CDMO) market.

Key Industry Players

Major companies operating in the topical drugs contract development and manufacturing organization (CDMO) market are Evonik Industries AG, Eurofins Scientific SE, SGS SA, The Lubrizol Corporation, Lonza Group AG, Catalent Inc., Bora Pharmaceuticals Co. Ltd., Recipharm AB, Pierre Fabre S.A., Piramal Pharma Solutions, Cambrex Corporation, LTS Lohmann Therapie-Systeme AG, PCI Pharma Services, Famar S.A., Contract Pharmaceuticals Limited, UPM Pharmaceuticals Inc., CoreRx Inc., Halo Pharmaceutical Inc., Tapemark Company, Groupe PARIMA Inc., MedPharm Ltd, Tergus Pharma LLC, Dow Development Laboratories LLC, NextPharma Technologies Holding Limited, Tedor Pharma Inc.

The topical drugs contract development and manufacturing organization (cdmo) market report table of contents includes: