Endocrine Testing Market Assessment, By Test Type [Thyroid Stimulating Hormone Test, Insulin Test, Human Chorionic Gonadotropin Hormone Test, Prolactin Test, Luteinizing Hormone Test, Progesterone Test, Others], By Technology [Tandem Mass Spectrometry, Im

Endocrine Testing Market Assessment, By Test Type [Thyroid Stimulating Hormone Test, Insulin Test, Human Chorionic Gonadotropin Hormone Test, Prolactin Test, Luteinizing Hormone Test, Progesterone Test, Others], By Technology [Tandem Mass Spectrometry, Immunoassay, Monoclonal and Polyclonal Antibody Technologies, Sensor Technology, Clinical Chemistry, Others], By End-user [Hospitals, Clinical Laboratories, Diagnostic Centers, Ambulatory Care Centers, Others], By Region, Opportunities and Forecast, 2017-2031F

Global nutraceuticals CDMO market is projected to witness a CAGR of 8.01% during the forecast period 2024-2031, growing from USD 35.23 billion in 2023 to USD 65.26 billion in 2031. The market’s growth is supported by the rising consumption of nutraceuticals, novel launches, and increasing investments by leading market players toward expanding their customer base and improving their manufacturing capabilities. The rising collaborations, mergers, and acquisitions among nutraceutical CDMOs across the globe to expand their global presence and strengthen their footprints in their existing locations are also boosting the global nutraceuticals CDMO market.

Increasing technological advancements in nutraceutical developments is one of the major factors augmenting product demand, which in turn is increasing the dependency on nutraceutical contract development and manufacturing organizations (CDMOs). Ongoing advancements in technology, including novel delivery systems and encapsulation techniques, are revolutionizing the nutraceuticals sector. Such technological innovations are aiding in enhancing the targeted delivery of nutraceutical ingredients as well as their bioavailability and stability, making them more appealing to customers.

Additionally, the leading market players are also working on securing grants and funding to expand their sites in different regions across the globe. Such efforts are also expected to provide lucrative growth opportunities for the nutraceutical CDMO market. In August 2024, Lonza Group Ltd. secured a USD 38.6 million (£30 million) grant for their biologics site in the United Kingdom. The Department for Science, Innovation, and Technology issued the grant to the company under their subsidy scheme, the Life Sciences Innovative Manufacturing Fund. Such grants are expected to aid the major market players in focusing their efforts on research and development activities and strengthening their operations in different regions.

Furthermore, the growing popularity of direct-to-consumer channels and e-commerce platforms is also facilitating access to nutraceuticals across the globe by allowing consumers to purchase nutraceutical products online and bypassing traditional retail platforms conveniently. This increased accessibility is further propelling the demand for nutraceutical products and positively influencing the expansion of the nutraceuticals CDMO market.

Novel Launches Drive Market Growth

Various CDMOs across the globe are entering the nutraceuticals industry with a broad range of products and formulations. In March 2023, Akums Drugs and Pharmaceuticals Ltd., India-based CDMO, entered the nutraceuticals sector with a wide range of formulations that aid patients in combatting common ailments. The customized range of products launched by the company aims to provide palatable and convenient dosage forms for geriatrics, adults, and pediatrics compared to the traditional options. The products range from immunity boosters and multivitamins to products that support urinary health, sleep, hair health, and morning sickness, among others. The company’s new gummy formulations are produced at their Nutravedics plant and offer an easy-to-consume and differentiated nutraceutical option.

Additionally, various CDMOs are engaging in mergers and acquisitions to ensure that they are able to provide high-quality services to their clients. Due to the increasing consumer interest in nutraceuticals, the requirement for novel launches and the introduction of differentiated and innovative products is rising. The growing popularity of personalized nutrition also propels the requirement for novel launches and increases the reliance on nutraceutical CDMOs to meet consumer demand.

Rising Requirement for Nutraceuticals Support Market Expansion

The growing emphasis on preventive healthcare and the increasing requirement for medical interventions is one of the major factors boosting the demand for nutraceuticals in different regions across the globe. The increasing awareness among the general population about the importance of preventive healthcare can be attributed to the rising cases of lifestyle-related diseases and the rapid expansion of the aging population. According to a survey conducted by LocalCircles.com, Inc., in February 2024, 7 out of 10 consumers surveyed confirmed that they regularly took various nutraceuticals ranging from dietary supplements to vitamins. The survey also showed that approximately 71% of Indian households consume nutraceuticals regularly. This increased requirement is thus augmenting the requirement for nutraceutical CDMOs to allow major businesses to meet the growing product demand. Additionally, the increasing adoption of a sedentary lifestyle and eating habits along with low levels of exercise is augmenting the prevalence of lifestyle-related disorders, thus increasing the reliance on nutraceutical products and bolstering the global nutraceuticals CDMO market demand.

Tablets and Capsules Account for Significant Market Share

The convenience and reliability of tablets and capsules support the segment's growth. Tablets and capsules also ensure precise dosing, allowing the patients to receive the desired amount of active ingredients for the desired results. Additionally, various leading market players and research institutions across the globe are increasingly focusing on launching new nutraceutical tablets and capsules. In June 2024, IDRS Labs Pvt. Ltd. and the Department of Atomic Energy (DAE) launched nutraceutical/ food supplement tablets AKTOCYTE to improve the quality of life of patients suffering from cancer and undergoing radiotherapy. The tablet received approval from the Food Safety and Standards Authority of India (FSSAI) and is supported by decades of research at the DAE. The tablets have also shown remarkable results across pelvic cancer patients who are observing side effects from radiotherapy. The organizations hope that the culminated launch of the product will go a long way in preventing damage to health tissues from radiation during cancer treatment.

Furthermore, the expansion of the segment can also be attributed to the excellent protection and stability offered by the tablets and capsules for the enclosed ingredients.

North America Holds Major Market Share

The rapid expansion of the market in the region can be attributed to the rising health consciousness among the general population and growing requirements for efficient manufacturing processes and innovative formulations to meet the evolving healthcare needs of the general population. The leading market players are also expanding their regional presence, further providing lucrative growth opportunities. In February 2023, Lonza Group Ltd. announced opening a new laboratory in Massachusetts, United States, as part of their plan to expand their early development services division in North America. The expanded services are allowing the company to aid customers in addressing and identifying potential problems with drug candidates.

The growth of the North America nutraceuticals CDMO market can also be attributed to the growing awareness about the different advantages of consuming nutraceuticals, such as improved immune system functioning, improved gut health, and reduced inflammation. The rising popularity of nutraceuticals can also be attributed to their accessibility and affordability. Thus, the increasing consumption of nutraceuticals is propelling the requirement for CDMOs to meet the rising consumer requirements.

Future Market Scenario (2024-2031F)

As per the global nutraceuticals CDMO market analysis, the market is expected to grow significantly over the coming years due to strategic partnerships, technological innovations, and rising consumer demand for preventive healthcare solutions. The growing emphasis on personalized nutrition is bolstering the expansion of the functional foods and beverages industry, further providing lucrative growth opportunities to the market. The rising nutritional requirements of the rapidly growing population are also expected to propel the requirement for nutraceutical CDMOs. According to estimates from the United Nations, the global population is estimated to reach 8.5 billion by 2030. Furthermore, the growing threat of various chronic diseases and the recent pandemic have shown the importance of preventive healthcare, boosting the demand for nutraceuticals from different regions across the globe. Consumers across the globe are increasingly consuming immunity-boosting supplements, resulting in a significant shift in market behavior and shopping patterns. In order to meet the growing requirement for nutraceuticals, the dependency on CDMOs is expected to increase, positively influencing the market’s rapid expansion.

Meanwhile, due to the rising regulatory requirements, companies are expected to prioritize CDMOs with advanced technologies and robust quality assurance capabilities.

Key Players Landscape and Outlook

The key players in the market are actively investing in the expansion of their production facilities in different regions across the globe and are also engaging in mergers and acquisitions to expand their global footprint. In September 2024, Lonza Group Ltd. completed the planned expansion of their mid-scale microbial manufacturing facility in Switzerland, which recently received the good manufacturing practice (GMP) license after a successful audit by the Swiss Agency for Therapeutic Products. The facility houses two 4,000 L fermenters and provides commercial manufacturing capacity with automation principles in its core operations. This expansion strengthens the company’s service offerings and allows it to adapt to its customers' life cycle scenarios and demands.

Furthermore, in March 2024, the company secured a manufacturing plant from F. Hoffmann-La Roche Ltd to corner contracts on next-generation medicines in a USD 1.2 billion deal. The California-based facility houses a bioreactor capacity of approximately 330,000 liters. With the help of the facility, the company aims to increase its sales from 12% to 15% over the next four years, from the previous window of 11% to 13%.