Ophthalmic Drugs Contract Manufacturing Market is projected to grow at an annualized rate of ~8%, till 2030
Roots Analysis has done a detailed study on Ophthalmic Drugs Contract Manufacturing Market: Focus on Active Pharmaceutical Ingredients and Finished Dosage Forms (Ophthalmic Drops, Emulsions, Gels, Injections, Lotions, Ointments, Suspensions, and Tablets / Capsules), 2020-2030, covering key aspects of the industry’s evolution and identifying potential future growth opportunities. Key Market Insights
Over 240 companies across the globe claim to have the required capabilities to offer variety of services on a contract basis, working at different scales of operation, for a wide range of ophthalmic APIs and drug FDFs The market is fragmented, featuring the presence of both established players and small firms based in different geographies that claim to be capable of manufacturing ophthalmic products Presently, majority of the CMOs are offering services for ophthalmic drug FDFs packaged in a variety of formats; popular types of containers include glass / plastic bottles, ointment tubes and ampoules / vials In order to acquire competencies across the supply chain and cater to evolving needs of sponsors, companies have established presence across different regions, having been certified by various regulatory authorities Several players involved in this domain are steadily expanding their capabilities in order to enhance their respective service portfolios and maintain a competitive edge In the past few years, over 10,700 trials, enrolling approximately 4.6 million patients, suffering from a wide range of chronic eye conditions, have been registered across the globe by different sponsors Most of the installed, global ophthalmic drug manufacturing capacity belongs to larger and more established CMOs, accounting for over 80% of available capacity across various geographies The demand for manufacturing services for ophthalmic drug products is expected to increase in the coming years; we believe stakeholders may have to expand their respective capacities to ensure consistent supply We expect ophthalmic drug developers to continue to outsource their development and manufacturing operations in the short to mid-term, causing service-based revenues to grow at an annualized rate of over 8% In the long-term, the projected opportunity is anticipated to be well distributed across various packaging formats, scales of operation and sizes of contract service providers Eminent representatives from prominent ophthalmic drug contract manufacturing companies confirm the importance of outsourcing, highlighting prevalent and anticipated trends within this domain
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