- India’s CDMO market is projected to grow from $15.63 billion in 2023 to $44.63 billion by 2029, driven by cost advantages and technological advancements.
- India offers pharmaceutical services 20% cheaper than Chinese competitors, with strong infrastructure and regulatory compliance boosting confidence.
- Some Indian CDMOs saw a 50% increase in RFPs in 2024, reflecting global interest in diversifying supply chains.
- India is investing in cutting-edge therapies like cell and gene therapy (CAGR 45%), antibody-drug conjugates (CAGR 25%), and nucleic acid therapeutics (CAGR 36%).
- The global CDMO market is expected to reach $465.14 billion by 2032, with India positioned for significant growth.
- India emerges as a strong alternative to China in CDMO, supported by regulatory compliance and a skilled workforce.
- Major investments by firms like Aurigene and Divi’s Labs highlight India’s expanding capabilities in drug development and manufacturing.
- Government initiatives like PLI schemes aim to boost domestic drug production and reduce import dependency in India.
- Challenges include scaling biologics production and maintaining global quality standards, despite strong growth prospects.
- India is poised to become a dominant player in global pharmaceutical manufacturing, reshaping the industry’s future.
