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Topical Drugs CDMO Market Trends

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

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Topical Drugs CDMO Market Trends

Skin diseases and dermatological conditions such as acne, eczema, psoriasis, and skin cancer are increasingly prevalent worldwide. For instance, according to World Health Organization, skin diseases are among the most prevalent health issues globally, affecting nearly 900 million people at any given time.
As a result, there is a growing demand for topical medications to manage and treat these conditions effectively, thereby propelling the growth of this market.
Additionally, pharmaceutical companies are increasingly turning to outsourcing as a cost-effective strategy to reduce operational expenses associated with in-house manufacturing facilities. Outsourcing manufacturing activities to specialized CDMOs allows companies to leverage economies of scale, expertise, and infrastructure without significant capital investment.

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.