Biopharmaceutical CMO Market to reach USD 58.2 billion by 2032 with a growing CAGR of 16.0%.
The rising demand for outsourced services such as microbial fermentation and mammalian cell culture has been critical in driving the growth of the biopharmaceutical contract manufacturing organization (CMO) market. Over the last few years, there has been an increased tendency among biopharmaceutical companies to outsource such processes to contract manufacturers primarily due to the increasing focus on the development of biologics, including recombinant proteins and monoclonal antibodies. A significant increase in developing biologics has led to an upsurge in demand for outsourcing services, which is translated directly into a need for mammalian cell culture services from CMOs.