Biotechnology Contract Manufacturing Market Experiences Robust Expansion

The Global Biotechnology Contract Manufacturing Market was valued US$ 16.5 Bn in 2022 and is expected to reach ~US$ 36.5 Bn by 2032, growing at a CAGR of 8.3% during the forecast period 2023-2032
One of the key drivers behind the growing prominence of biotechnology contract manufacturing is the need for cost-effective and scalable production solutions. By collaborating with CMOs, biotechnology firms can mitigate the capital expenditures associated with establishing and maintaining in-house manufacturing facilities. This approach enables them to allocate resources more efficiently, reducing overall production costs and enhancing profitability.