UAE Contract
Manufacturing Organizations market is expected to register robust growth in the
forecast period, 2023-2027. Contract manufacturing organization offer highly
valuable services to enhance the production capacities of the pharmaceutical
industry. The escalating demand for pharmaceutical products for the treatment
of numerous diseases and rise in need for outsourcing of the manufacturing
operations is propelling the market growth. CMOs follow numerous regulations
imposed by the government, comprises of highly skilled manpower, cost-effective
service portfolio, and presence of the state of the art manufacturing
facilities. The expanding competition in the pharmaceutical sector has
accelerated the need for the introduction of pharmacy products as early as
possible to hold the leading position of the market. With this, the increasing
pricing pressure and rising benefits offered by the CMOs including high quality
products in standard cost and minimized timelines are significantly inducing
the growth of the market during the forecast years.
Significant
Growth in the Biologics Market Fuels the Market Growth
Rising prevalence of
several chronic diseases, such as cancer and the escalating demand for
effective therapies are augmenting the market growth. The growing investments
in the development of complex biologic molecules and the inflating need for
proficient service provider that deliver products as per the regulatory
standards. The biologic molecules referred as complex and to manufacture these
products strong skills and approved manufacturing facilities are required. CMOs
are focusing to enhance their capabilities to fulfil the increasing needs,
thereby more and more biologics products are being outsourced for packaging and
manufacturing activities. This, in turn, is driving the growth of the market.
Growing production capacities by the leading CROs is projected to uplift the
pharmaceutical CMO market in the upcoming years.
Emergence of CMOs with Growing
Production Capacities Promotes the Market Growth
The growing demand for
outsourcing and the entering of various novel manufacturing companies with an
advanced solutions are augmenting the growth of the market. Leading
pharmaceutical players are believing in their technical capabilities and able
to outsource their production to the service provider. Several small and
mid-sized pharmaceutical companies are engaging with one or more CMOs which is
driving the market growth. The expanding number of contract manufacturing
organizations entering this particular zone is expected to offer lucrative
growth opportunities to the key market players.