The Healthcare CDMO Market: Fueling Growth and Innovation in the Pharmaceutical Industry
Healthcare Contract Development and Manufacturing Organization Industry Overview The global healthcare contract development and manufacturing organization market size is expected to reach USD 471.0 billion by 2030, growing at a CAGR of 9.68% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is expected to show lucrative growth due to rising outsourcing trends and increasing R&D expenditure. Healthcare contract development and manufacturing organization (CDMO) provide outsourcing services to various pharmaceutical industries on a contract basis. An increase in outsourcing by pharmaceutical companies, expansions in the pharmaceutical industry, and the support of CDMOs in reducing operational and capital expenses are some of the major factors anticipated to propel the market growth in the forecast period. In addition, growing requirement among pharmaceutical and medical device companies to follow stringent timelines has i...