The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Topical Drugs Contract Development And Manufacturing Organization (CDMO) Global Market Report 2024, the topical drugs contract development and manufacturing organization (CDMO) market is expected to show significant growth in the forecast period.

The topical drugs contract development and manufacturing organization (CDMO) market has experienced significant growth recently.

• Market Size and Growth:
  • Grew from $45.47 billion in 2023 to $52.9 billion in 2024, reflecting a CAGR of 16.3%.
  • Expected to reach $97.26 billion by 2028, with a CAGR of 16.4%.

Factors Driving Historic Growth
Several factors contributed to the market’s growth during the historic period.

• Chronic Disease Prevalence: Increased incidence of chronic skin conditions.
• Advanced Drug Delivery Technologies: Innovations in how drugs are delivered topically.
• Cost-Efficient Outsourcing: Pharmaceutical companies outsourcing to CDMOs for cost savings.
• Regulatory Demands: Stringent regulations requiring specialized manufacturing processes.
• Growth in Dermatology and Cosmetics: Rising demand for dermatological and cosmetic products.

Future Growth Drivers
The forecast period predicts continued robust growth due to several key factors.

• Personalized Medicine: Increased focus on tailored treatments for individuals.
• Biologics Expansion: Growth in biologic drugs requiring specialized manufacturing.
• Increased R&D Investments: More funding towards research and development in topical drugs.
• Rising Skin Disorder Prevalence: More cases of skin conditions driving demand for treatments.
• Advanced Manufacturing Technologies: Technological advancements enhancing production efficiency.

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Major Trends Shaping the Market
Several trends are expected to shape the market landscape in the coming years.

• Innovative Formulations: Demand for new and effective drug formulations.
• Advancements in Drug Delivery Technologies: Continued innovation in how drugs are delivered.
• Investment in Dermatological Research: Increased funding for research in skin-related treatments.
• Surge in Outsourcing: Pharmaceutical companies increasingly outsourcing to CDMOs.
• Focus on Personalized Medicine: Growing emphasis on customized treatment options.
• Stringent Regulatory Requirements: Need for compliance with complex regulations.
• Consumer Preference for OTC Products: Growing demand for over-the-counter skincare products.

Impact of Rising Skin Disease Prevalence
The increasing prevalence of skin diseases is a significant driver for the market.

• Environmental Factors: Pollution and UV exposure contributing to skin conditions.
• Lifestyle Changes: Modern lifestyle factors leading to higher incidence of skin issues.
• Microbial Infections: Increased cases of infections affecting the skin.
• Targeted Therapies: CDMOs developing targeted treatments to manage and reduce skin diseases.
• Case Study: Significant increase in skin melanoma cases in Australia from 2019 to 2023, highlighting the growing need for effective treatments.

Major Players in the Market
Key companies are driving innovation and growth in the topical drugs CDMO market.

• Notable Companies:
  • Evonik Industries AG
  • Eurofins Scientific SE
  • SGS SA
  • The Lubrizol Corporation
  • Lonza Group AG
  • Catalent Inc.
  • Bora Pharmaceuticals Co. Ltd.
  • Recipharm AB
  • Pierre Fabre S.A.
  • Contract Pharmaceuticals Limited
  • UPM Pharmaceuticals Inc.
  • CoreRx Inc.
  • Halo Pharmaceutical Inc.
  • NextPharma Technologies Holding Limited
  • Tedor Pharma Inc.

Focus on State-of-the-Art Manufacturing Facilities
Companies are investing in advanced manufacturing facilities to stay competitive.

• Example: SOHM Inc. launched a new CDMO GMP manufacturing facility in Carlsbad, enhancing its capacity for manufacturing topical products.

Strategic Acquisitions to Expand Capabilities
Mergers and acquisitions are playing a crucial role in market expansion.

• Example: In April 2024, CoreRx Inc. acquired Societal CDMO Inc. for $130 million, enhancing its CDMO capabilities and market share.

Market Segmentation
The topical drugs CDMO market is segmented by product type, service type, therapeutic area, and end-use.

• Product Type: Semi-Solid Formulations, Liquid Formulations Drugs, Solid Formulations, Transdermal Products.
• Service Type: Contract Development, Contract Manufacturing.
• Therapeutic Area: Dermatology, Pain Management, Wound Care, Ophthalmology, Other Therapeutic Areas.
• End-Use: Pharmaceutical Companies, Biopharmaceutical Companies, Other End-Uses.

Regional Insights
Asia-Pacific was the largest region in the topical drugs CDMO market in 2023, indicating significant regional opportunities for growth.

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