CMO/CDMO Market to reach USD 38.87 billion by 2032, developing at a CAGR of 5.86%
The Contract Manufacturing Organization (CMO) and Contract Development and Manufacturing Organization (CDMO) market has been experiencing significant growth, driven by key trends in drug development and the need for specialized manufacturing capabilities. Several factors, including the increasing complexity of drug production, the rise of biologics and biosimilars, the growing demand for personalized medicine, and technological advancements have all contributed to the expansion of this sector.