Biopharmaceutical CMO And CRO Market Is Expected To Reach USD 49.2 Billion By 2028
San Francisco, 22 April 2021: The Report Biopharmaceutical CMO And CRO Market Size, Share & Trends Analysis Report By Source (Mammalian, Non-mammalian), By Service Type (Contract Manufacturing, Contract Research), By Product, And Segment Forecasts, 2021 - 2028 The global biopharmaceutical CMO and CRO market size is expected to reach USD 49.2 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.6% from 2021 to 2028. The market is significantly driven by the growing interest of conventional drug developers in biological therapeutics. At present, outsourcing has become a cost-saving strategy for small to medium-sized bio-manufacturers as it helps in eliminating the need for establishing costly specialized facilities or hiring and training personnel. The global market for biopharmaceutical CMO and CRO is expected to thrive during the pandemic owing to positive pipeline development across modalities. For instance, Lonza an