NEW DELHI: India’s Contract Research Development and Manufacturing Organisation (CRDMO) sector is at an inflection point, with the potential to grow to USD 22-25 billion by 2035, according to a report.
India currently holds a 2-3 per cent share of the USD 140-145 billion global CRDMO market but has the potential to become a global leader, according to the report by Boston Consulting Group (BCG) and Innovative Pharmaceutical Services Organization (IPSO).
Four key tailwinds that are driving the sector growth include the push to de-risk supply chains, making India a preferred outsourcing destination. PTI
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