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Topical Drugs CDMO Market Size

Report ID: GMI9137
Published Date: Apr 2024
Report Format: PDF

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Topical Drugs CDMO Market Size

Topical Drugs CDMO Market size was valued at USD 42.1 billion in 2023 and is estimated to grow at CAGR of 12.1% from 2024 - 2032. The growth of this market can be attributed to growing trend of outsourcing of manufacturing activities by pharmaceutical companies.

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Additionally, increasing prevalence of skin diseases and disorders, such as acne, eczema, and psoriasis, which has led to a growing demand for topical medications, further boosts the market growth. Moreover, advances in formulation technologies, novel drug delivery systems, and manufacturing processes are driving innovation in the market. CDMOs are investing in new technologies and capabilities to develop novel and differentiated topical products with improved efficacy, safety, and patient adherence. By investing in new capabilities, CDMOs can produce differentiated drugs that improve patient outcomes and adherence, increasing demand for their services, thereby driving market growth.

Topical Drugs CDMO Market Report Attributes
Report Attribute	Details
Base Year:	2023
Topical Drugs CDMO Market Size in 2023:	USD 42.1 Billion
Forecast Period:	2024 - 2030
Forecast Period 2024 - 2030 CAGR:	12.1%
2030 Value Projection:	USD 116.3 Billion
Historical Data for:	2021 - 2023
No. of Pages:	190
Tables, Charts & Figures:	333
Segments covered:	Product Type, Therapeutic Area, Service Type, End-user, and Region
Growth Drivers:	Increasing demand for topical medications Growing adoption of outsourcing of manufacturing activities
Pitfalls & Challenges:	Challenges in quality control High capital investment

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Topical drugs CDMO refers to service providers that offers specialized outsourcing services for the development and manufacturing of topical drug products. Topical drugs are medications designed to be applied directly to the skin or mucous membranes for localized or systemic effects. CDMOs in this area offer a variety of services to pharmaceutical, biotechnology, and specialty pharma companies, helping them bring topical drug products from the research and development stage to commercialization.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Topical drugs CDMO market size was USD 42.1 billion in 2023 and is expected to register 12.1% CAGR from 2024-2032 owing to the growing trend of outsourcing of manufacturing activities by pharmaceutical companies and increasing prevalence of skin diseases worldwide.

The semi-solid formulations segment recorded 65.1% share in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to their versatility and ease of application.

North America topical drugs CDMO industry is expected to register 11.9% CAGR from 2024-2032 due to well-established medical facilities and world-class research institutions that support the development and manufacturing of high-quality topical drugs, in the region.

Cambrex Corporation, Contract Pharmaceuticals Limited, DPT Laboratories, Ltd., The Lubrizol Corporation, MedPharm Ltd, PCI Pharma Services, Pierre Fabre Group, and Piramal Pharma Solutions, are some of the major topical drugs CDMO companies worldwide.