Business
CDMO Market Set to Surpass $420 Billion by 2034, Analysts Forecast

The global market for Contract Development and Manufacturing Organizations (CDMOs) is projected to experience substantial growth, with estimates suggesting it could reach approximately $220 billion USD by 2025. Analysts anticipate this figure will rise to $236 billion in 2026, with expectations of reaching around $420 billion by 2032-2034. These projections reflect a consensus among various research firms, which utilize different methodologies and scope definitions in their analyses.
Market Overview and Growth Drivers
A composite analysis of leading research publications indicates a 7.5% compound annual growth rate (CAGR) for the CDMO market. This growth is fueled by several industry fundamentals, including an increase in pharmaceutical outsourcing, opportunities arising from patent expirations, and the expansion of the biologics market. Despite facing short-term capacity challenges and geopolitical pressures on supply chains, the overall outlook remains positive.
Forecasts from various sources provide additional insights into the market’s trajectory. Fortune Business Insights estimates the CDMO market will reach $238.92 billion in 2024 and grow to $255.01 billion by 2025, eventually hitting $465.24 billion by 2032. This represents a robust CAGR of 9.0% from 2025 to 2032.
Another analysis from Mordor Intelligence suggests that the market will achieve $258.88 billion by 2025 and $353.20 billion by 2030, reflecting a CAGR of 6.41% during the 2025-2030 period. Their focus on core pharmaceutical CDMO services highlights the significant share of 55.44% attributed to active pharmaceutical ingredient (API) manufacturing.
Comparative Forecasts and Industry Insights
“The CDMO market is evolving rapidly, driven by the need for efficiency and specialization in drug development,”
noted a spokesperson from Precedence Research, which projects the market to reach $184.90 billion in 2024 and $197.40 billion in 2025, with a long-term outlook of $368.70 billion by 2034. Their analysis indicates a CAGR of 7.2% from 2024 to 2034.
Furthermore, Grand View Research provides a more conservative estimate for 2023 at $146 billion, predicting growth to $235.50 billion by 2030, also reflecting a CAGR of 7.2% during the 2024-2030 timeframe.
The increasing reliance on CDMOs is reshaping the pharmaceutical landscape, as companies seek to enhance their operational efficiencies while navigating complex regulatory environments. As the market evolves, understanding the dynamics and contributions of various players will be crucial for stakeholders aiming to capitalize on growth opportunities in the coming years.
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