Lonza hints at CDMO industry rebound
What is a CDMO?
CDMO Explained: An Overview of Contract Development and Manufacturing Organisations in Pharma
The article below gives the lowdown on the CDMO space:
CDMO Explained: An Overview of Contract Development and Manufacturing Organisations in Pharma
This is how it begins:
“In the dynamic world of Pharma and Biopharma, the need to innovate the development and manufacturing of new drugs cost-effectively and with speed has become critically important.
As the industry continues to evolve, companies are constantly seeking ways to streamline their operations, reduce costs, and bring new innovative products to market faster. This is why Contract Development and Manufacturing Organisations (CDMOs) have grown to become a fundamental to the pharma ecosystem.
The global Contract Manufacturing market is estimated to be worth $176.5 Billion USD revenue in 2023, and forecast to reach $258.3 Billion by 2028, growing at a CAGR of 7.9% over that period.
Indeed, 90% of biopharma companies now rely on outsourcing fo…