Contract Development And Manufacturing Organization (CDMO) Outsourcing Market Size, Share, Growth Analysis, By Service(Contract Manufacturing Organization (CMO), Contract Research Organization (CRO) Services), By Region - Industry Forecast 2024-2031

Global Contract Development And Manufacturing Organization (CDMO) Outsourcing Market size was valued at USD 214.86 billion in 2022 and is poised to grow from USD 228.63 billion in 2023 to USD 375.84 billion by 2031, growing at a CAGR of 6.41% in the forecast period (2024-2031).

A CDMO, or contract development and manufacturing organization, is a company that manages both the discovery and invention of new pharmacological compounds as well as their outsourced manufacture. Pharmaceutical firms no longer need to construct and staff specialized innovation and manufacturing facilities. In order to shorten the timetables involved in the drug development process, many small and big pharmaceutical firms throughout the globe are strategically partnering with several contract development and manufacturing organizations (CDMO). This is due to the increased need for innovative therapeutics. Currently, many CDMOs provide services such as drug research, preclinical and clinical trials, manufacturing API and finished products, dosage form development, etc. From medication research to commercialization, these services span the whole value chain. During the projection period, it is projected that the increased complexity of medicines and the lack of internal manufacturing capabilities in many small pharmaceutical businesses would drive the expansion of the global contract development and manufacturing organization (CDMO) outsourcing market.

US Contract Development And Manufacturing Organization (CDMO) Outsourcing Market is poised to grow at a sustainable CAGR for the next forecast year.