The Global Biologics Contract Development and Manufacturing Organization (CDMO) Market was valued USD 133.4 Billion in 2019 and is anticipated to reach USD 279.3 Billion by 2026, expanding at a CAGR of 10.2% during the forecast period 2020-2026. The growth of the market is attributed to the increasing number of small and medium pharmaceutical and biopharmaceutical companies in the emerging economies. Moreover, the increasing demand for small molecules and biologics is expected to stimulate the growth of the market.
Pharmaceutical companies outsource the development and manufacturing of the drugs to biologics contract development and manufacturing organization (CDMO) to save their time, process, and costs. Outsourcing helps the pharma and biopharma companies to almost save 35% of the total costs. Various CDMO companies provide services such as drug discovery, preclinical, clinical trials, and API, among others.