PUBLISHER: Grand View Research | PRODUCT CODE: 1841956
PUBLISHER: Grand View Research | PRODUCT CODE: 1841956
The global pharmaceutical contract development and manufacturing organization market size was estimated at USD 155.5 billion in 2024 and is projected to reach USD 293.6 billion by 2033, growing at a CAGR of 7.38% from 2025 to 2033. Growth in the market can be attributed to the rising investments by CDMOs to expand new drug development and the increasing demand for novel therapies.
In addition, growing investments in pharmaceutical R&D, rising demand for genetic drugs, and growing prevalence of cancer & age-related disorders, coupled with increasing need for advanced therapeutics, are some of the key factors driving market growth.
The pharmaceutical industry is experiencing a significant shift from traditional small molecules to biopharmaceuticals. This includes monoclonal antibodies, vaccines, recombinant proteins, and other therapies such as mRNA treatments. In addition, this shift is driven by the growing prevalence of chronic diseases, an aging global population, and the increasing access to targeted therapies that tend to provide better efficacy and fewer side effects than conventional treatments.
According to the data published by IQVIA in January 2024, the global medicine spending at list prices is anticipated to rise by 38% between 2024 and 2028, with biologics accounting for more than 40% of that growth, reflecting the central role in the treatments. Regulators such as the U.S. FDA continue to clear record numbers of innovative biologics, approving 50 novel drugs in 2024, of which a significant proportion were advanced biologics and specialty medicines, supported by a 74% first-cycle approval rate that accelerates patient access. Also, biopharmaceuticals represent over half of the late-stage pipeline, and categories such as GLP-1 agonists for diabetes and obesity, cell and gene therapies for rare diseases, and monoclonal antibody-based cancer therapies are shaping demand trajectories. Therefore, CDMOs play an essential role in this environment as biologics production requires complex infrastructure, such as single-use bioreactors, continuous bioprocessing systems, and high-level cold chain logistics, all of which demand expertise and heavy capital investment.
Global Pharmaceutical Contract Development And Manufacturing Organization Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global pharmaceutical contract development and manufacturing organization market report based on type, product, service, workflow, therapeutic area, end use, and region.