Biologics CDMO Market Overview
The global biologics CDMO market was valued at USD 11.27 billion in 2021, and it is expected to reach USD 21.90 billion by 2027, registering a CAGR of 11.51% during 2022-2027. Cancer therapies are among the primary drivers for a large proportion of the growth in the biologics market. Even with the faster growth forecast, in terms of drug approvals, small molecules outweigh biologics. For instance, the FDA’s Center for Drug Evaluation and Research (CDER) approved 50 new drugs and biological products in 2021. Of the 50 approved new drugs and biological products, 33 were small molecule drugs, and 17 were monoclonal antibodies and other big molecule drugs. The number of biologic approvals has been increasing steadily over the past few years.
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United States Biologics CDMO Market
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