PHARMACEUTICAL CONTRACT DEVELOPMENT AND MANUFACTURING ORGANIZATION (CDMO) MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 Analysis of the pharmaceutical CDMO market

During the anticipated period, the Pharmaceutical CDMO Market is anticipated to grow at a CAGR of 6.74%. The CMO industry is expected to expand thanks to advanced manufacturing methods and procedures. Due to innovative operational techniques like continuous production, CMOs are anticipated to increase the effectiveness of their manufacturing processes, reducing waste and lowering costs. It is projected that the adoption of new manufacturing methods by CMOs would be driven by the expansion of small and mid-sized pharmaceutical companies, who are responsible for an increasing proportion of new drug approvals yet frequently lack manufacturing capacity.

Due to the rising demand for generic drugs and biologics, the capital-intensive nature of the industry, and the complex manufacturing requirements, an increasing number of pharmaceutical companies realised the potential profitability of working with a CMO for clinical and commercial-stage manufacturing. Given the pharmaceutical industry's ongoing growth, particularly since the start of the COVID-19 pandemic, pharmaceutical innovation companies must stock their pipelines with new drugs. They lack the resources to do research, innovate, and create products. Consequently, the demand for CMOs is essential.


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