PUBLISHER: Grand View Research | PRODUCT CODE: 1171057
PUBLISHER: Grand View Research | PRODUCT CODE: 1171057
The global large molecule drug substance CDMO market size is expected to reach USD 22.1 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.3% from 2023 to 2030. Rising incidence of infectious diseases and high demand for novel therapeutics are the key factors driving the market.
Contract manufacturing is one of the major steps in large molecule production and accounts for a sizable portion of the large molecule drug substance market. The mode of manufacturing is an important factor to consider because it represents the sector's outsourcing and in-house activities. Companies are now choosing to outsource services due to high costs and delays in time. This has resulted in a greater proportion of large molecules being outsourced by the firms. A contract development and manufacturing organization (CDMO) is a company that provides a comprehensive range of services to the pharmaceutical industry from drug development to manufacturing. CDMOs provide critical services by incorporating third-party projects and offering their knowledge, development, and manufacturing capabilities.
Prior to the COVID-19 pandemic, large molecule drug investment was increasing as it offers a plethora of new treatment options. The valuation of biologics became clearer during the race to develop therapeutics and vaccines against the SARS-CoV-2 virus. The demand for both high-volume and high-quality CGMP drug substance and drug product manufacturing services has risen dramatically, particularly for CDMOs capable of providing a wide range of COVID vaccine technologies and, to a lesser extent, therapeutic monoclonal antibody products.