Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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What CAGR Will the Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market Achieve During 2025–2034, and What Does It Indicate?
The market size of the contract development and manufacturing organization (CDMO) for topical drugs has seen a swift growth in the recent past. The market, which stands at $52.9 billion in 2024, is predicted to surge to $61.69 billion in 2025, reflecting a compound annual growth rate (CAGR) of 16.6%. The expansion in the historic period can be traced back to the increased prevalence of chronic diseases, advancements in drug delivery technologies, cost-effective outsourcing, regulatory requirements, and growth in the dermatology and cosmetics sector.
In the coming years, the market size of contract development and manufacturing organizations (CDMO) for topical drugs is predicted to experience a swift expansion. The market is projected to reach $113.06 billion by 2029, with a compound annual growth rate (CAGR) of 16.4%. The expected growth during the forecasted period can be credited to factors like personalized medicine, expansion in biologics, increased investments in R&D, a surge in skin disorder cases, and advancements in manufacturing technologies. Noteworthy trends for the forecast period comprise the growing demand for novel formulations, progress in drug delivery technologies, increasing expenditure in dermatological research, a rise in outsourcing from pharmaceutical companies, a focus on individualized medicine, stringent regulatory norms requiring specific expertise, and an increase in consumer preference for over-the-counter (OTC) skincare products.
What Factors Are Propelling the Growth of the Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market from 2025 to 2034?
The escalating rate of skin conditions is anticipated to boost the expansion of the topical drugs contract development and manufacturing organization (CDMO) market in the future. This term, skin diseases, encompasses any medical issues impacting the skin, contributing to inflammation, itching, and sores. The rise in skin-related conditions can be traced back to several factors, including environmental contamination, exposure to UV radiation, genes, lifestyle alterations, and being infected with microbes. The role of the topical drugs contract development and manufacturing organization (CDMO) in addressing skin conditions lies in creating and producing tailored therapies that enhance the control and cure of dermatological issues efficiently. Notably, Cancer Australia, a cancer control institution based in Australia, observed a considerable rise in skin melanoma instances from 2019 to 2023, with cases jumping from 15,628 to 18,257 as per their January 2024 report. Moreover, 2019 reports showed that 9,134 cases were men as opposed to 6,494 women, but by 2023, the proportions had increased to 10,639 men and 7,618 women respectively. Thus, the soaring rate of skin conditions is fueling the expansion of the topical drugs contract development and manufacturing organization (CDMO) market.
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Who Are the Key Firms Paving the Way for Growth in the Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market?
Major companies operating in the topical drugs contract development and manufacturing organization (CDMO) market are:
• Evonik Industries AG
• Eurofins Scientific SE
• SGS SA
• The Lubrizol Corporation
• Lonza Group AG
What Are the Most Influential Trends Currently Shaping the Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market?
Key players in the contract development and manufacturing organization (CDMO) market for topical drugs are constantly striving to establish cutting-edge manufacturing facilities that help them maintain their market position. These modern manufacturing sites come equipped with the latest technology and innovative processes uniquely crafted for the production and development of topical pharmaceutical goods. For instance, SOHM Inc., an American pharmaceutical company, established a CDMO GMP manufacturing facility in November 2023. This new facility, located in Carlsbad, provides plenty of room for producing topical products as well as accommodating SOHM’s operations. In particular, it allocates 2,500 square feet for storing finished merchandise. Initially, the facility will have a daily output capacity of 500 gallons (1,892 liters) for topical manufacture. However, by the end of Q1 2024 or at the beginning of Q2 2024, it is projected to increase its production capacity to include soft-gel suppositories.
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What Are the Main Segments of the Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market, and How Are They Evolving?
The topical drugs contract development and manufacturing organization (CDMO) market covered in this report is segmented –
1) By Product Type: Semi-Solid Formulations, Liquid Formulations Drugs, Solid Formulations, Transdermal Products
2) By Service Type: Contract Development, Contract Manufacturing
3) By Therapeutic Area: Dermatology, Pain Management, Wound Care, Ophthalmology, Other Therapeutic Areas
4) By End-Use: Pharmaceutical Companies, Biopharmaceutical Companies, Other End-Uses
Subsegments:
1) By Semi-Solid Formulations: Creams, Ointments, Gels, Pastes
2) By Liquid Formulations Drugs: Solutions, Suspensions, Emulsions, Lotions
3) By Solid Formulations: Powders, Tablets
4) By Transdermal Products: Patches
Which Regions Are Essential for the Growth of the Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market?
Asia-Pacific was the largest region in the topical drugs contract development and manufacturing organization (CDMO) market in 2023. The regions covered in the topical drugs contract development and manufacturing organization (CDMO) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Key Elements Shape the Definition of the Topical Drugs Contract Development And Manufacturing Organization (CDMO) Market?
A topical drugs contract development and manufacturing organization (CDMO) is a specialized company that provides comprehensive services for the development, formulation, and production of topical pharmaceuticals. These services include research and development, clinical trial material production, and commercial manufacturing. CDMOs help pharmaceutical companies bring topical drug products to market efficiently and compliantly.
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