Pharmaceutical CDMO Market Report: Key Findings and Strategic Recommendations
The global pharmaceutical CDMO (Contract Development and Manufacturing Organization) market was valued at USD 146.0 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.2% between 2024 and 2030. This growth is primarily driven by increasing investments in drug development by CDMOs and the rising demand for novel therapies. Other key contributors include heightened pharmaceutical R&D spending, growing demand for genetic drugs, the prevalence of cancer and age-related disorders, and the escalating need for advanced therapeutic solutions. Additionally, the increasing adoption of biosimilars, biologics, personalized medicine, orphan drugs, companion diagnostics, and adaptive trial designs is further fueling demand for CDMO services. As pharmaceutical companies push the boundaries of innovation, the necessity to comply with stringent regulations is intensifying the reliance on specialized CDMO providers adept at navigating complex development and manufac