A recently published report from Future Market Insights highlights significant potential for global CMO/CDMO market growth; with projections suggesting a significant increase in value from $22.5 bn in 2023 to $39.4 bn by 2033.

This expected growth is driven by the growing trend in outsourcing of critical services within the pharma industry, with plenty of activity in expansion and M&As across the wider CMO and CDMO sector already occurring as a result. Key regions, including North America, China and India, are showing strong market potential and demand through innovation and strategic collaborations, whereas the demand for biologics and advanced therapies will likely fuel market expansion, necessitating demand for sophisticated manufacturing capabilities and innovative solutions.

As highlighted in past editions of The Pharma Navigator, leading CMOs and CDMOs are utilizing strategic collaborations, technological advancements, and geographic expansion to create a competitive edge. Companies are investing heavily in state-of-the-art facilities, and enhancing their service offerings to meet the increasing complexity of pharmaceutical products, such as personalized medicines and novel drug delivery systems.