Press release
Strong Growth Ahead: Biopharmaceutical CMO And CRO Market Size To Grow At Arecord 6.6% Cagr By 2029
Biopharmaceutical CMO And CRO Market
How Big Is the Biopharmaceutical CMO And CRO Market Size Expected to Be by 2034?
The biopharmaceutical CMO and CRO market has grown strongly, with expectations of increasing from $33.33 billion in 2024 to $35.6 billion in 2025 at a CAGR of 6.8%. Growth in the historic period was influenced by rising biopharmaceutical R&D investments, demand for innovative therapies, an expanding biologics pipeline, growth in biopharmaceutical production, and pharmaceutical companies outsourcing drug development.
The biopharmaceutical CMO and CRO market is expected to witness strong growth, reaching $45.89 billion by 2029 with a CAGR of 6.6%. Factors driving this expansion include increased outsourcing of drug development and manufacturing, a greater focus on cost-efficient production methods, an expanding range of therapeutic areas and drug pipelines, rising demand for personalized medicine, and heightened investments in biotechnology startups. Key trends in the forecast period include the increasing adoption of automated and high-throughput technologies, the use of advanced analytics and AI in drug development, rising demand for cell and gene therapies, greater integration of digital technologies in clinical trials, and increased outsourcing of complex biopharmaceutical processes.
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What Are the Emerging Segments Within the Biopharmaceutical CMO And CRO Market?
The biopharmaceutical cmo and cromarket covered in this report is segmented -
1) By Product: Biologics, Biosimilars
2) By Service Type: Contract Manufacturing, Contract Research
3) By Source: Mammalian, Non-Mammalian
Subsegments:
1) By Biologics: Monoclonal Antibodies (mAbs), Vaccines, Recombinant Proteins, Cell and Gene Therapies, Antibody-Drug Conjugates (ADCs), Therapeutic Enzymes
2) By Biosimilars: Biosimilar Monoclonal Antibodies, Biosimilar Insulins, Biosimilar Growth Hormones, Biosimilar Erythropoietins, Biosimilar Granulocyte Colony-Stimulating Factors (G-CSFs)
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What Long-Term Drivers Are Shaping Biopharmaceutical CMO And CRO Market Trends?
The rising investment in research and development (R&D) is expected to propel the growth of the biopharmaceutical Contract Manufacturing Organization (CMO) and Contract Research Organization (CRO) market. Increased R&D spending, driven by the need for innovation, competitive pressures, and government incentives, enables CMOs and CROs to enhance manufacturing methods and research processes. This innovation attracts clients by providing cutting-edge solutions while maintaining regulatory compliance. According to Eurostat, the EU's R&D expenditure grew by 6.34% in 2022, reaching €352 billion ($384.42 billion), highlighting the growing investment in R&D that supports the biopharmaceutical sector.
Who Are the Top Competitors in Key Biopharmaceutical CMO And CRO Market Segments?
Major companies operating in the biopharmaceutical CMO and CRO market are Thermo Fisher Scientific Inc., Boehringer Ingelheim International GmbH, Eurofins Scientific SE, Lonza Group AG, Syneos Health Inc., Catalent Inc., Charles River Laboratories International Inc., Parexel International (MA) Corporation, Samsung Biologics Co. Ltd., CELLTRION INC., Medpace Holdings Inc., Fujifilm Diosynth Biotechnologies UK Limited, Almac Group, Pharmaron Beijing Co. Ltd., Worldwide Clinical Trials, KBI Biopharma, Inotiv Inc., Caidya, Rentschler Biopharma SE, Celerion Inc., TFS HEALTHCARE LIMITED
What Trends Are Driving Growth in The Biopharmaceutical CMO And CRO Market?
Leading companies in the biopharmaceutical CMO and CRO market are forming strategic partnerships to enhance services, improve efficiencies, and speed up drug development for biopharmaceutical companies. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual success. For example, in June 2024, Abzena plc., a UK-based biopharmaceutical company, teamed up with Argonaut Manufacturing Services Inc., a US-based contract manufacturing organization (CMO), to integrate drug development and manufacturing solutions for clients. This collaboration aims to provide accelerated, end-to-end drug development and manufacturing services, improving efficiency, reducing costs, and streamlining biopharmaceutical production.
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Which Regions Are Becoming Hubs for Biopharmaceutical CMO And CRO Market Innovation?
North America was the largest region in the biopharmaceutical CMO and CRO market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biopharmaceutical CMO and CRO market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Biopharmaceutical CMO And CRO Market?
2. What is the CAGR expected in the Biopharmaceutical CMO And CRO Market?
3. What Are the Key Innovations Transforming the Biopharmaceutical CMO And CRO Industry?
4. Which Region Is Leading the Biopharmaceutical CMO And CRO Market?
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