Since the COVID-19 pandemic started in 2020, the global con[1]tract manufacturing market has grown at an unprecedented rate. Moreover, the rising ubiquity of chronic diseases and a constant demand for medicines are making it difficult for pharma companies, in particular, to maintain a strong foothold in the market. Such a drift from the conventional operations is leading pharma companies to improve lead times and supply chain processes while relieving their in-house resources for newer projects. Moreover, the stringent regulations emerging in the phar[1]maceutical arena are propelling companies to outsource the manufacturing of their prod[1]ucts to contract manufacturing organizations (CMOs). This has led to the burgeoning of CMO services capable of augmenting the manufacturing efficiencies of pharma companies.
From an industry standpoint, the pressure on reducing the supply chain length and improving lead-time efficiency is forcing pharma firms to take various measures to meet the demand through CMOs. Pharmaceutical organizations are also seeking vendors that provide both contract manufacturing and contract packaging, along with quality testing to minimize the need to collaborate with multiple partners. In addition, the rise in demand for injectable drugs, especially in cancer research, is driving the pharmaceutical CMO trend upward as the higher ROI and therapeutic efficiency of injectable formulations are poised to witness a boom in the current pharma arena.
At this juncture, several CMOs are advancing in the industry with some of the most advanced offerings. This edition of Pharma Tech Outlook has compiled a list of some of the most prominent players in the CMO space to aid the pharmaceutical companies in improving their outcomes and facilitating growth. Besides, the magazine also includes insights and advice from thought leaders on the industry trends, best practices, and recent innovations for aspiring CIOs and CXOs.
We present to you Pharma Tech Outlook’s “Top 10 CMOs in APAC— 2022.”
