The pharmaceutical contract development and manufacturing organisation (CMO) market is anticipated to reach $159.94 billion in 2026 at a CAGR of 6.9%, according to TBRC’s research. The rising demand for pharmaceuticals around the world is what is fueling the expansion of the market for pharmaceutical contract development and manufacture.
According to The Business Research Company’s “Pharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market Report 2022”, the pharmaceutical contract development and manufacturing organisation (CMO) market is anticipated to grow from $114.36 billion in 2021 to $122.31 billion in 2022 at a compound annual growth rate (CAGR) of 7%. The market’s expansion is primarily attributable to businesses starting up again and adjusting to the new normal as they recover from the COVID-19 effect, which had previously resulted in restrictive containment measures like social isolation, remote work, and the closure of commercial activities that created operational difficulties.
Source: einnews.com