The North America topical drugs CDMO market is anticipated to reach USD 26.45 billion by 2030, registering a CAGR of 10.7% from 2024 to 2030. The increasing investment in R&D activities coupled with rising need for novel therapeutics for several dermatological conditions contributes to the growing demand for topical drugs CDMO market. Rising consumer preference for several topical solutions owing to ease of administration and minimized side effects are other factors supporting the growth of the market.
The growing need for novel innovation and new product developments are expected to improve the demand in the market, and competitive pressure & pricing concerns are driving companies to outsource new drug development & manufacturing. This is expected to drive overall market growth. Moreover, CDMOs are leveraging several advanced technologies such as nanotechnology to manipulate drug particles at the molecular level, enhancing drug stability and bioavailability. Moreover, microencapsulation techniques protect sensitive ingredients, allowing for controlled release and targeted drug delivery, amplifying therapeutic outcomes. Such technological advancements are accelerating market growth potential in North America.
CDMOs are actively involved in collaboration & partnerships with pharmaceutical companies to secure long-term contracts for innovative drug development and manufacturing of several topical formulations, which is expected to spur market demand. For instance, in January 2023, Swiss-American CDMO, a prominent provider specializing in topical skin care products, collaborated with LiquiGlide, the inventor of the EveryDrop dispensing platform. Through this collaboration, the company will utilize LiquiGlide’s innovative nontoxic slippery surface technology to eliminate friction between liquids & solids and product waste for consumer-packaged goods.
The growing need for novel innovation and new product developments are expected to improve the demand in the market, and competitive pressure & pricing concerns are driving companies to outsource new drug development & manufacturing. This is expected to drive overall market growth. Moreover, CDMOs are leveraging several advanced technologies such as nanotechnology to manipulate drug particles at the molecular level, enhancing drug stability and bioavailability. Moreover, microencapsulation techniques protect sensitive ingredients, allowing for controlled release and targeted drug delivery, amplifying therapeutic outcomes. Such technological advancements are accelerating market growth potential in North America.
CDMOs are actively involved in collaboration & partnerships with pharmaceutical companies to secure long-term contracts for innovative drug development and manufacturing of several topical formulations, which is expected to spur market demand. For instance, in January 2023, Swiss-American CDMO, a prominent provider specializing in topical skin care products, collaborated with LiquiGlide, the inventor of the EveryDrop dispensing platform. Through this collaboration, the company will utilize LiquiGlide’s innovative nontoxic slippery surface technology to eliminate friction between liquids & solids and product waste for consumer-packaged goods.
North America Topical Drugs CDMO Market Report Highlights
- Based on product type, the semi-solid formulations segment dominated the market with a revenue share of more than 65% share in 2023, owing to numerous advantages including ease of administration and patient preference for topical drugs compared to the oral route of administration owing to several adverse effects, which is expected to drive segment demand
- Based on service type, the contract manufacturing segment is expected to grow at the substantial CAGR over the forecast period
- Based on sponsors, the pharmaceutical companies segment held the largest market share in 2023. Growing R&D investments by several pharmaceutical companies to develop and commercialize innovative topical drugs is anticipated to boost market revenue growth
- The U.S. dominated the North America topical drugs CDMO industry owing to factors such as strong presence of market participants in the region, government support for quality healthcare and high demand for cosmetic products
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. North America Topical Drugs CDMO Market Variables, Trends & Scope
Chapter 4. North America Topical Drugs CDMO Market: Product Type Estimates & Trend Analysis
Chapter 5. North America Topical Drugs CDMO Market: Service Type Estimates & Trend Analysis
Chapter 6. North America Topical Drugs CDMO Market: Sponsors Estimates & Trend Analysis
Chapter 7. North America Topical Drugs CDMO Market: Country Estimates & Trend Analysis
Chapter 8. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- The Lubrizol Corporation
- Cambrex Corporation
- Contract Pharmaceuticals Limited
- Bora Pharmaceutical CDMO
- Ascendia Pharmaceuticals
- Pierre Fabre S.A.
- Piramal Pharma Solutions
- DPT Laboratories, LTD.
- MedPharm Ltd.
- Zenvisionpharma
Methodology
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 125 |
Published | January 2024 |
Forecast Period | 2023 - 2030 |
Estimated Market Value ( USD | $ 13.03 Billion |
Forecasted Market Value ( USD | $ 26.45 Billion |
Compound Annual Growth Rate | 10.7% |
Regions Covered | North America |
No. of Companies Mentioned | 10 |