Grand View Research reports that the global biopharmaceutical contract manufacturing market size was valued at $12.14 billion in 2017 and is projected to reach $21.7 billion by 2025, showing a CAGR of 7.5% during the forecast period. The success of the biopharmaceutical market can be majorly attributed to contract manufacturers, states Grand View Research.
Reduction in overall investment required to bring a new drug product to market, providing access to expensive technologies, quick entry of products in markets, and greater flexibility are some advantages offered by contract manufacturing organizations (CMOs), also known as contract development and manufacturing organizations (CDMOs). This has prompted several large companies to outsource their biopharmaceutical manufacturing operations, notes Grand View Research.
GEN spoke with several industry experts to get their take on the direction contract manufacturing is heading. The discussion topics ranged from merger and acquisition (M&A) activity, to one-stop-shops to adopting less risk-aversive strategies. The respondents are:
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