Global Custom Synthesis & Manufacturing (CSM) Market Report 2023: Escalating Demand for Specialty Chemicals Drives Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Custom Synthesis & Manufacturing (CSM) Market: Analysis By Application (Pharmaceutical, Agrochemical, and Others), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.

The global custom synthesis and manufacturing market was valued at US$271.33 billion in 2022. The market value is expected to reach US$474.94 billion by 2028.

Custom synthesis manufacturing (CSM) refers to the process of manufacturing a specific chemical compound, material, or product according to the specific requirements and specifications of a customer. This process involves the synthesis of a desired compound or material that is not readily available in the market or cannot be obtained through standard manufacturing processes.

The contract synthesis and manufacturing (CSM) provides several benefits, including cost-effectiveness, specialization, flexibility, regulatory compliance, and speed to market. Custom Synthesis and Manufacturing (CSM) is on the rise across the world, driven by strong growth in end-use demand, innovators shifting focus to core competencies and outsourcing of production to low manufacturing cost destinations.

The CSM market is expected to continue to grow due to the increasing demand for pharmaceuticals, growing complexity of drugs, advancements in technology, increasing patent expiry, and growing trend of green manufacturing. The market is expected to grow at a CAGR of approx. 10% during the forecasted period of 2023-2028.

Companies Mentioned

• Thermo Fisher Scientific Inc. (Alfa Aesar)
• PI Industries Ltd.
• Aragen Life Sciences Private Ltd.
• Seikagaku Corporation (Dalton Pharma Services)
• Navin Fluorine International Ltd. (Manchester Organics Ltd.)
• Anupam Rasayan India Ltd.
• Divi's Laboratories Ltd.
• Taros Chemicals GmbH & Co. KG
• Solvias AG
• Matrix Fine Chemicals GmbH
• Cambrex
• Tokyo Chemical Industry Co., Ltd.

Market Dynamics

Growth Driver

• Growing Pharmaceutical Industry
• Rising Agrochemical Industry Growth
• Increasing Cases of Cancer
• Surging Pharma Research and Development Spending
• Escalating Demand for Specialty Chemicals
• Increasing Regulatory Compliance Requirement
• Rising Outsourcing Trend

Challenges

• Cost Pressure
• Talent Shortage

Market Trends

• Integration of AI/MI
• Increasing Patent Expiry
• Technological Advancements
• Green Manufacturing
• Increasing Role of Automation and Robotics

Key Attributes:

Market Segmentation Analysis:

• By Application: The report provides the custom synthesis and manufacturing market analysis based on applications: Pharmaceutical, Agrochemical, and Others. The pharmaceutical segment held the highest share in the market and is also expected to be the fastest-growing segment in the forecasted period. The pharmaceutical industry requires a wide range of specialty chemicals, intermediates, and APIs (active pharmaceutical ingredients) to develop and manufacture drugs. Many pharmaceutical companies outsource these activities to third-party CROs (contract research organizations) and CMOs (contract manufacturing organizations) to reduce costs and increase efficiency. Thus, the increasing trend of outsourcing is driving market growth.
• By Region: The report provides insight into the custom synthesis and manufacturing market based on the regions namely, North America, Asia Pacific, Europe, and the Rest of the World. North America held the highest share of the market The pharmaceutical industry is growing at a consistent pace in North America, with a large number of biotech and pharma companies operating in the region. Morever the US has a large pool of population suffering from health diseases. For instance, according to the article US Health Care from a Global Perspective, 2022, the US has the highest rate of people with multiple chronic conditions and an obesity rate nearly twice the OECD average. Therefore, owing to the high rate of people suffering from chronic diseases along with the increasing health spending contributes to the growth of the pharmaceutical industry. These factors are driving the demand for CSM services.
• Asia Pacific is expected to be the fastest-growing region in the forthcoming years. Within Asia Pacific, India provides lucrative opportunities to the overall CSM industry. The main drivers of the Indian CSM market include the rising trend of contract manufacturing of fine chemicals along with niche specialty chemicals in India. Many global companies are preferring investment in contract manufacturing in India. Moreover, market growth is driven by research & development of new molecules/chemistries developed followed by willingness for reduced capital investments in the overall fine chemicals segment.

For more information about this report visit https://www.researchandmarkets.com/r/kanjmu

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