India Poised for Major Role in Global CDMO Market by 2033

India is expected to account for 8-10% of global CDMO work by 2033, driven by shifts from the EU and US to Asia. The biopharma industry is increasingly recognizing the value of Indian CDMOs amid geopolitical changes, presenting both opportunities and challenges for India.

India is set to become a major player in the global CDMO market by 2033, potentially accounting for 8-10% of outsourced work, according to a report by McKinsey & Company.

The shift from EU and US to Asia, particularly India and Korea, is driven by the evolving geopolitical landscape, the report highlights. With the global CRDMO industry projected to expand from USD 224 billion to USD 465 billion by 2032, the opportunities for Indian companies are vast.

Industry experts underline the significance of Indian CDMOs in shaping the biopharma sector's future, attributing their growing importance to innovation and value. However, challenges remain, as these organizations must scale their infrastructure to meet rising global demand.

(With inputs from agencies.)