The global pharmaceutical Contract Development and Manufacturing Organization (CDMO) market was valued at approximately USD 146.05 billion in 2023 and is expected to expand to USD 315.08 billion by 2034. This growth represents a compound annual growth rate (CAGR) of 7.24% from 2024 to 2034. The market is driven by the increasing demand for pharmaceutical products, as more companies seek specialized partners for drug development and manufacturing.
https://www.towardshealthcare.com/insights/pharmaceutical-cdmo-market-sizing
https://www.towardshealthcare.com/insights/pharmaceutical-cdmo-market-sizing
Pharmaceutical companies face challenges in developing new therapeutic products. Partnering with a Contract Development and Manufacturing Organization (CDMO) helps overcome these hurdles by providing expertise, scalability, and cost savings. CDMOs allow companies to access advanced technologies and production capacity while minimizing risk.
In October 2024, Strides Pharma Science raised Rs 801 crore from investors for its affiliate company. In June 2023, Saudi Arabia’s Public Investment Fund launched Lifera to boost the country’s pharmaceutical manufacturing sector. In March 2023, Pharmaron expanded its UK gene therapy production facilities with a £151 million investment.
In October 2023, CPHI Barcelona is expected to draw over 40,000 executives from across the pharmaceutical supply chain. This major event, held at Fira Barcelona from October 24 to 26, has become an essential meeting point for discussions on outsourcing, as well as the pharmaceutical and biotech industries.
In October 2023, Norstella’s firm, Evaluate, launched the CDMO Intelligence solution. This tool is designed to provide CDMOs, biopharma companies, and financial institutions with comprehensive market insights, helping them make informed decisions and develop effective long-term strategies in the rapidly evolving pharmaceutical CDMO sector.
In September 2023, Future Fields, a biotechnology company, introduced a new CDMO service. The company, known for pioneering the world’s first synthetic biology system using fruit flies to create recombinant proteins, aims to offer innovative solutions in the field.
Our Table of Content (TOC) covers key healthcare market segments, materials, technologies and trends—helping you navigate market shifts and make informed decisions: https://www.towardshealthcare.com/table-of-content/pharmaceutical-cdmo-market-sizing
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