Small Molecule Innovator CDMO Market size is expected to reach USD 74.9 billion by 2030
Small Molecule Innovator CDMO Industry Overview The global small molecule innovator CDMO market size was valued at 42.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030. There was unprecedented growth in 2020 due to the COVID-19 pandemic. The EFCG reported that around 80% of chemicals used to make drugs sold in Europe are supplied from India and China. The major factors fueling the growth of this market include increasing pharmaceutical R&D investment and the rising incidence of cancer and age-related disorders across the globe. Another factor fueling the market growth is the growing demand for small molecule drugs. In 2020, small molecule drugs dominated new molecular entities (NMEs) approvals. Small molecules accounted for 75% of the 53 NMEs approved in 2020. This continues a recent trend in which small molecules account for roughly three-quarters of NME approvals. Small molecules accounted for 79% of NME ...