Key players operating in the Healthcare CMO Market Size are FMC Corporation, BASF SE, Bayer AG, Sumitomo Chemical Co., Ltd., Syngenta AG, Adama Agricultural Solutions Ltd., UPL Limited (previously United Phosphorus Limited), Nufarm Limited, Tagros Chemicals India Ltd., Heranba Industries Limited. Growing generic drugs production to cater increasing needs of aging population as well as cost-effectiveness of generic drugs compared to branded drugs is driving significant demand for outsourcing manufacturing to healthcare CMOs. Global expansion of key biopharmaceutical players into emerging markets of Asia Pacific, Latin America and Middle East and Africa through partnerships with regional healthcare CMOs ensure timely supply and access to affordable healthcare in these regions.
Currently, Asia Pacific is poised to expand the fastest in the healthcare CMO market during the forecast period. This is primarily due to the thriving pharmaceutical manufacturing sector in countries like India, China, Japan and South Korea. These nations have emerged as globally competitive destinations for outsourced drug production owing to low costs, skilled workforce and government initiatives. The presence of well-established local players and increasing entry of large multinational CMOs are boosting service capabilities across Asia Pacific. Moreover, robust economic growth rates and rising healthcare spending in the region will aid the accelerated uptake of contract manufacturing services. By 2030, the Asia Pacific healthcare CMO market is projected to more than double in value from its 2024 base.
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