Pharmaceutical CDMO Market Overview and Growth Forecasts
Wednesday, 11 September 2024, 08:00
Pharmaceutical CDMO Market Insights
The pharmaceutical CDMO market, valued at USD 184.9 billion in 2024, is predicted to attain USD 345.6 billion by 2033, indicating a remarkable CAGR of 7.2% from 2024 to 2033.
Key Growth Drivers
- Increased demand for contract manufacturing services.
- Rising complexity in drug formulations.
- Adoption of advanced technologies in manufacturing processes.
Market Segmentation
- Biologic CDMOs leading market growth.
- Synthetic Drug Manufacturing on the rise due to new drug approvals.
- Growing presence of generic products enhancing market dynamics.
Continuous innovations in healthcare technology are expected to further propel the market's growth, as companies increasingly lean on CDMO partners for expertise and capabilities.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.