Indian CRDMO Sector Poised for Growth, Expected to Reach $22-25 Billion by 2035: BCG-IPSO Report
Mumbai: The Indian Contract Research and Development Manufacturing Organization (CRDMO) sector is projected to experience significant growth, reaching $22-25 billion by 2035, according to a report by Boston Consulting Group (BCG) and the Indian Pharmaceutical Services Outsourcing (IPSO) organization.
The report highlights the sector’s potential to drive global pharmaceutical innovation and become a leader in serving the biopharma and life sciences outsourcing markets.
Peter Bains, CEO Designate of Syngene International Ltd, emphasized the importance of collaboration among stakeholders to realize this growth potential. “The Indian CRDMO sector is positioned for major transformation… Realizing this opportunity will require change and collaboration among all stakeholders in the Indian CRDMO ecosystem.”
Bains noted that the sector must work together with the government, academic institutions, and other stakeholders to foster a competitive regulatory and financial ecosystem, develop new technologies and modalities, and ensure a strong talent pipeline.
The IPSO organization serves as a catalyst for this growth, bringing together leading CRDMOs to drive advocacy, build an ecosystem of innovation, and address critical challenges.
