North American CDMO market poised for a boom to $8.65B by 2026 — report
The market for CDMOs has grown tremendously in the past few years, and thanks to shifts in manufacturing trends, that growth isn’t expected to slow just yet. It could be as much as $8.65 billion by the year 2026, according to a report released by Technavio on Monday.
North America is primed for the largest market growth in the next four years with a projected 41% growth, largely thanks to the popularity of mammalian, microbial and cell therapy services, Technavio found. The prediction comes on the heels of boosted domestic drug production after Covid-19 restrictions, import/export controls and supply chain problems have led companies to prioritize in-country manufacturing. WuXi, Fujifilm, Catalent, and Lonza have all beefed up manufacturing in the US, either through mergers and acquisitions that expand their footprint or by simply purchasing plots of land and throwing a new building on it.
To read Endpoints News become a free subscriber
Unlock this article instantly, along with access to limited free monthly articles and our suite of newsletters