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Pharmaceutical Contract Research and Manufacturing Market to grow by USD 141.3Billion from 2024-2028, driven by cost-efficient resources in emerging markets, AI-powered report – Technavio

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NEW YORK, Oct. 7, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Pharmaceutical Contract Research and Manufacturing Market size is estimated to grow by USD 141.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.87%  during the forecast period. Availability of cost-efficient resources in emerging markets is driving market growth, with a trend towards increasing number of US FDA approved manufacturing facilities. However, stereotypical nature of CMOS  poses a challenge – Key market players include Almac Group Ltd., Boehringer Ingelheim International GmbH, Cadila Pharmaceuticals Ltd., Catalent Inc., Charles River Laboratories International Inc., Cmic Holdings Co. Ltd, Dr Reddys Laboratories Ltd., ICON plc, IQVIA Holdings Inc., Laboratory Corp. Of America Holdings, Lonza Group Ltd., Lupin Ltd., Novotech Health Holdings, OPTIMAPHARM d.o.o., Parexel International Corp., PCI Pharma Services, Recipharm AB, Samsung Electronics Co. Ltd., Syneos Health Inc., and Thermo Fisher Scientific Inc..

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Pharmaceutical Contract Research And Manufacturing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 10.87%

Market growth 2024-2028

USD 141.3 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.51

Regional analysis

North America, Asia, Europe, and Rest of World (ROW)

Performing market contribution

Asia at 46%

Key countries

US, China, India, Germany, and UK

Key companies profiled

Almac Group Ltd., Boehringer Ingelheim International GmbH, Cadila Pharmaceuticals Ltd., Catalent Inc., Charles River Laboratories International Inc., Cmic Holdings Co. Ltd, Dr Reddys Laboratories Ltd., ICON plc, IQVIA Holdings Inc., Laboratory Corp. Of America Holdings, Lonza Group Ltd., Lupin Ltd., Novotech Health Holdings, OPTIMAPHARM d.o.o., Parexel International Corp., PCI Pharma Services, Recipharm AB, Samsung Electronics Co. Ltd., Syneos Health Inc., and Thermo Fisher Scientific Inc.

Market Driver

The Pharmaceutical Contract Research and Manufacturing (CRAM) market is experiencing significant growth due to the increasing number of US FDA-approved manufacturing facilities in emerging economies, particularly China and India. India, with around 400 such facilities, is a top destination for pharmaceutical manufacturing services outsourcing. This includes approximately 230 API and 150 FDF facilities, the highest in any country. China, previously limited to CROs due to stringent regulations on CMOS, has seen a shift with the State Council allowing MAHs to use third-party licensed manufacturers. This change has led to an increase in US FDA-approved facilities and foreign pharmaceutical companies outsourcing drug manufacturing to China. This trend is expected to continue, driving the growth of the global pharmaceutical CRAM market.

The Pharmaceutical Contract Research and Manufacturing (CRM) market is witnessing significant trends in various areas. Generic Drugs are gaining popularity due to their affordability, driving demand for Generic APIs and Formulation Services. Artificial Intelligence is revolutionizing Drug Discovery and Development, enabling faster identification of Drug Candidates. Route Scouting Services and Bioprocess Outsourcing are key areas of focus for Biologics Manufacturing. Regulatory Compliance remains a top priority, with Serialization and Counterfeiting mitigation measures essential. Clinical Trials are outsourced to CROs for cost-effective manufacturing and efficient Clinical Operations. Big Pharmaceutical Companies and Academic Institutes collaborate for innovative Drug Development Services. Advanced manufacturing technologies like Continuous Manufacturing and Digitalization are transforming the Pharmaceutical Ecosystem. Targeted Medication Therapies, Biosimilars, and Personalized Medicines are driving the need for Specialized Services and Cost-effective Manufacturing. Drug Delivery Systems and Clinical Trial Support are crucial for bringing Small Molecule Drugs and Active Pharmaceutical Ingredients to market. Regulatory bodies and industry associations play a vital role in ensuring Quality Control and ensuring the integrity of the Pharmaceutical Supply Chain. 

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Market Challenges

The pharmaceutical Contract Research and Manufacturing Organizations (CMOs) market in the Asia Pacific region holds the largest share but faces a significant challenge due to limited access to advanced technologies for manufacturing complex drugs, such as biological drugs and vaccines. These CMOs primarily focus on producing small molecule-based generic drugs due to high manufacturing costs and lack of funding. This restricts growth opportunities for small and medium-sized CMOs. Major players like Boehringer Ingelheim, Catalent, and Lonza dominate the market for large-scale production of biological drugs. The absence of advanced technologies and high manufacturing costs in countries like Mexico, South Korea, and Brazil also hinder the growth of CMOs in these regions. Consequently, the global pharmaceutical CRAM market growth may be impeded substantially during the forecast period.The Pharmaceutical Contract Research and Manufacturing (CRM) market faces several challenges in the production of biologics and small molecule drugs. Big Pharma companies and academic institutes rely on CROs for cost-effective manufacturing of targeted medication therapies, including biologics and biosimilars. Manufacturing services for active pharmaceutical ingredients (APIs) and drug formulation require advanced technologies like continuous manufacturing and specialized services for drug delivery systems. Quality control is crucial for producing consistent, high-quality products. CROs must support clinical trial operations and commercial operations, ensuring compliance with quality standards and patient needs. Digitalization and personalized medicines also require specialized expertise. The drug development process involves complex production workflows, from the creation of drug candidates to the manufacturing of oral solids, liquids, emulsions, and more. Meeting the demands of Big Pharma and academic institutes while maintaining cost-effectiveness and quality is a significant challenge for the CRM industry.

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Segment Overview

This pharmaceutical contract research and manufacturing market report extensively covers market segmentation by

Service 1.1 CMO1.2 CROEnd-user 2.1 Big pharmaceuticals2.2 Small and medium-sized pharmaceuticals2.3 Generic pharmaceuticalsGeography 3.1 North America3.2 Asia3.3 Europe3.4 Rest of World (ROW)

1.1 CMO-  The Contract Research and Manufacturing Organizations (CMOs) segment is the largest in the global pharmaceutical CRAM market, accounting for a significant market share. CMOs are entities that manufacture drugs and healthcare products on a contract basis for pharmaceutical companies and biotech firms. Advancements in medical sciences and the growing popularity of specialty medicines, as well as technological developments like nanotechnology and stem cell research, are driving the demand for complex manufacturing processes. These processes require extended resource deployments, leading pharmaceutical giants like Pfizer, Johnson & Johnson, and GlaxoSmithKline to outsource their manufacturing activities to optimize in-house resources. The outsourcing trend is particularly prevalent among pharmaceutical vendors worldwide, resulting in the substantial growth of the CMO segment. Emerging markets, including India, Brazil, China, and Mexico, are major contributors due to their low labor and land costs, making them attractive locations for setting up manufacturing facilities. Generic drug manufacturers in these countries outsource approximately 80% of their production to CMOs. The increasing focus on core competencies and cost reduction, along with the regulatory compliance and research advancement benefits, are fueling the expansion of the CMO segment in the global pharmaceutical CRAM market.

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Research Analysis

The Pharmaceutical Contract Research and Manufacturing (CRM) market encompasses a range of services that support the development and production of small molecule drugs, biologics, biosimilars, and active pharmaceutical ingredients (APIs). Services include drug discovery, route scouting, regulatory compliance, clinical trials, outsourcing, drug formulation, quality control, and advanced manufacturing technologies such as continuous manufacturing and specialized services. Artificial Intelligence (AI) is increasingly being utilized in drug discovery to identify new drug candidates and optimize their properties. Cost-effective manufacturing is a key driver for outsourcing, particularly for generic drugs and APIs. Bioprocess outsourcing is essential for the production of complex biologics and biosimilars. Continuous manufacturing offers advantages in terms of cost savings, improved quality, and increased efficiency. Specialized services include the production of low potent APIs and the manufacturing of originator and generic APIs. The market caters to both small molecule drugs and biologics, with a focus on ensuring regulatory compliance and maintaining the highest standards of quality control.

Market Research Overview

The Pharmaceutical Contract Research and Manufacturing (CRM) market encompasses a range of services that support the entire drug development process, from discovery to commercialization. This market includes various services such as drug discovery, clinical trials, regulatory compliance, route scouting, bioprocess outsourcing, and manufacturing services. Generic Drugs: CRM companies offer manufacturing services for generic drugs, producing affordable alternatives to branded medicines. Artificial Intelligence: AI is increasingly used in drug development to identify new targets, optimize drug design, and analyze clinical trial data. Drug Development: CRM companies provide comprehensive drug development services, from discovery to commercialization, ensuring regulatory compliance and cost-effective manufacturing. Clinical Trials: CRM companies offer clinical trial support, managing trial design, execution, and data analysis to ensure efficient and effective trials. Outsourcing: Pharmaceutical companies outsource various aspects of drug development and manufacturing to CRM companies for cost savings and expertise. Bioprocess Outsourcing: CRM companies specialize in bioprocessing, producing biologics, biosimilars, and vaccines using advanced manufacturing technologies. Serialization and Counterfeiting: CRM companies provide serialization services to ensure product authenticity and combat counterfeiting, enhancing patient safety. Pharmaceutical Ecosystem: CRM companies operate within the complex pharmaceutical ecosystem, collaborating with academic institutes, CROs, and big pharma to bring new drugs to market. Drug Development Services: CRM companies offer a range of drug development services, from drug discovery and formulation to manufacturing and commercialization. Manufacturing Services: CRM companies provide manufacturing services for small molecule drugs, APIs, and drug delivery systems, ensuring quality control and cost savings. Cost-effective manufacturing: CRM companies offer cost-effective manufacturing solutions, utilizing economies of scale and advanced technologies to reduce production costs. Quality control: CRM companies prioritize quality control, implementing rigorous standards and advanced technologies to ensure product safety and efficacy. Advanced manufacturing technologies: CRM companies employ advanced manufacturing technologies, such as continuous manufacturing and specialized services, to improve efficiency and reduce costs. Personalized medicines: CRM companies support the development and manufacturing of personalized medicines, tailoring treatments to individual patient needs. Drug development processes: CRM companies optimize drug development processes, from production workflows to digitalization, to bring new drugs to market faster and more efficiently.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ServiceCMOCROEnd-userBig PharmaceuticalsSmall And Medium-sized PharmaceuticalsGeneric PharmaceuticalsGeographyNorth AmericaAsiaEuropeRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Revolune and Concept Life Sciences Partner to Help Customers Transition Multiplex IF Assays to Flexible New Workflows

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OBERKOCHEN, Germany, Oct. 27, 2026 /PRNewswire/ — Revolune today announced a partnership with Concept Life Sciences to help biopharma and life sciences customers reassess, transfer, and scale multiplex immunofluorescence assays using Revolune’s flexible staining technology, which now supports 4- to 7-plex assays. 

The collaboration addresses a growing market need as customers evaluate alternatives to existing workflows and reconsider how best to support tissue biomarker research. With Revolune now offering 4- to 7-plex assay capabilities, Concept Life Sciences can help customers transfer established assays onto the Revolune platform, preserve valuable panel know-how, and move more easily from existing workflows to flexible, ready-to-use multiplex formats. 

“Many customers are not starting from a blank page — they already have assays, panels, and tissue biomarker strategies they need to preserve while moving toward more flexible workflows,” said Adrian Arechiga, CCO of Revolune. “Concept Life Sciences brings the translational biology, biomarker, and assay development expertise needed to help customers make that transition practically and confidently.” 

Concept Life Sciences is a leading contract research organization serving the global life sciences industry, with capabilities across discovery, development, analytical services, translational biology, biomarker discovery, spatial biology, and end-to-end chemistry. By combining these capabilities with Revolune’s adaptable multiplex immunofluorescence technology, the companies aim to help customers generate decision-ready tissue biomarker insights while reducing the operational burden of assay transfer and implementation. 

The partnership is designed for research teams that want to retain the scientific value of existing workflows while gaining access to a more flexible platform for multiplex staining. Customers can work with Concept Life Sciences to evaluate assay transfer feasibility, optimize panel design, run tissue staining workflows, and connect resulting biomarker data to broader discovery and development programs. 

“We are excited to work with Revolune to support customers who are rethinking how they approach multiplex tissue analysis,” said Adam Davenport, CSO at Concept Life Sciences. “Together, we can help teams transfer existing assays, explore new panels, and apply multiplex immunofluorescence in ways that support meaningful translational decisions.” 

The Concept Life Sciences partnership forms part of Revolune’s broader strategy to build an ecosystem of partners that support adoption across different customer needs — from specialist service execution to assay migration, translational biology, and integrated R&D support.

Meet Revolune and Concept Life Sciences at SITC 2026

Revolune and Concept Life Sciences will both be attending the Society for Immunotherapy of Cancer (SITC) Annual Meeting, November 4–8, 2026, in Phoenix, Arizona. 

Meet both teams at SITC at Sundown, a relaxed evening of complimentary drinks, dinner and conversation hosted by Concept Life Sciences on November 6, 6.30-8.30 pm. More information: https://www.conceptlifesciences.com/campaigns/sitc-2026.

About Revolune

Revolune is a life science company dedicated to making multiplex immunofluorescence as accessible and practical as routine tissue analysis. Its reagent technologies help laboratories move rapidly from existing primary antibodies to ready-to-use multiplex kits, simplifying spatial biology workflows and enabling researchers to focus on biological questions rather than assay management. 

About Concept Life Sciences

Concept Life Sciences is a leading contract research organisation (CRO) serving the global life sciences industry. For over 25 years, the company, and its heritage companies, have provided consultative and collaborative drug discovery and development services. Our approach, supported by passionate scientists and world-leading capabilities, enables clients to overcome complex scientific challenges and improves program success rates. The company has successfully helped 29 candidates advance to the clinic.

The company offers sophisticated translational biology services coupled with exceptional end-to-end chemistry capabilities to support drug discovery and development across a range of established and emerging modalities, with the ability to seamlessly integrate capabilities and provide bespoke solutions to address client needs.

Collectively, the company’s high-quality services and commitment to customer service across the drug development pathway enhances efficiency in drug discovery, helping clients advance their drugs to clinic in as little as 32 months, well ahead of the industry average of 60 months.

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SOURCE Revolune

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From Global Orders to Global Growth: Financial Infrastructure for Mid-Market Exporters

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At the 140th Canton Fair, PhotonPay demonstrates how its stablecoin-centric financial operating system helps growing exporters manage cross-border collections, currency conversion and global payments.

HONG KONG, Oct. 27, 2026 /PRNewswire/ — For a growing homewares exporter, a major overseas order brings opportunity, but also an immediate question: how will the business finance production, cover shipping costs and manage cash until the buyer pays?

A furniture manufacturer may need to pay suppliers weeks or months before receiving the final payment. A home décor or festive-goods exporter may be managing several seasonal orders at once, each with different delivery schedules, payment terms and currencies. As the business expands into more markets, tracking incoming payments, converting currencies and paying suppliers becomes increasingly complex.

These are everyday challenges behind international trade. At the second phase of the 140th Canton Fair, themed “Quality Home Life” and featuring furniture, kitchenware, household items, home decorations, gifts and festive products, PhotonPay is highlighting how financial infrastructure can help growing exporters manage these demands as they expand internationally.

Financial Tools for the Next Stage of Growth

Large multinational companies can draw on dedicated treasury teams, established banking relationships and sophisticated systems to manage funds across markets. Smaller businesses may have simpler payment needs. Mid-market exporters occupy a different position: their operations span multiple countries and currencies, while their finance teams often remain lean.

At the same time, production and freight costs must be covered before all customer payments arrive. Receivables may be spread across currencies and accounts, while suppliers expect payment according to their own schedules. Finance teams must track receipts, reconcile invoices and maintain a clear view of available funds.

Across multiple markets and overlapping orders, these tasks can consume significant time and complicate decisions about when and where to deploy cash. Growing exporters need practical tools to coordinate collections, manage funds across currencies and pay counterparties worldwide, without having to build a large treasury function from scratch.

Connecting Fiat and Stablecoin Rails to Global Business

Bank accounts and fiat payment networks remain central to international trade, connecting businesses to local collection methods and established banking relationships. Stablecoins offer an additional way to transfer value across borders, with transactions possible outside conventional banking hours depending on the network and transaction arrangements.

Connecting fiat and stablecoin rails can give businesses more flexibility in managing cross-border funds. For exporters, the practical value lies in connecting the stages of a cross-border financial workflow: receiving customer payments, converting currencies and making funds available for supplier payments and other business expenses.

PhotonPay is built around this connection. As a stablecoin-centric financial operating system, PhotonPay brings together a cross-border financial infrastructure across both fiat and stablecoin rails.

Its multi-asset wallet supports fiat currencies and stablecoins within a unified environment. Local collection capabilities cover 21 currencies, enabling businesses to receive payments in the currencies their customers use. Through integrated on- and off-ramp services, businesses can convert between fiat and stablecoins, while 24/7 foreign exchange allow funds to move across markets at any time. Cross-border payouts in fiat and stablecoins are available across 200+ countries and territories. Card issuing capabilities also allow companies to manage overseas business spending directly from one platform.

These capabilities connect the key stages of cross-border financial operations, and for growing exporters, this provides a more integrated way to manage international payments as their business expands.

PhotonPay also extends its infrastructure to platforms through Embedded Finance. Its APIs enable B2B platforms, marketplaces and other digital businesses to integrate financial capabilities, including accounts, fiat and stablecoin wallets, global payouts and card issuing, into their own products. This allows platforms to build collection, payment and fund management services into existing workflows and extend financial capabilities to their customers.

Financial Infrastructure That Grows With the Business

For mid-market exporters, international growth brings new customers, more markets and greater demands on financial operations. The ability to manage funds across borders needs to keep pace, supporting everything from the next production run to the next supplier payment and the next market entry.

By connecting fiat and stablecoin rails within one financial operating system, PhotonPay helps growing businesses manage cross-border funds with greater flexibility as they scale internationally.

Visit PhotonPay at Area D, Booths DT1714–DT1718, during the 140th Canton Fair.

About PhotonPay

PhotonPay is a stablecoin-powered payment operating system built for global infrastructure. Designed for modern enterprises, PhotonPay enables businesses to send, receive, convert, and settle funds across both fiat and stablecoin rails through a single, compliance-first integration, spanning 200+ countries and territories.

For more information, visit [www.photonpay.com].

Disclaimer

This material is for general informational purposes only and does not constitute legal, regulatory, tax, accounting, or investment advice, nor an offer or solicitation for any product or service. The availability, features, and regulatory treatment of PhotonPay’s products and services may vary depending on the user’s location, business model, and the laws and regulations that apply. Any descriptions of functionality, performance, efficiency, cost savings, or compliance support (including, without limitation, references to “real‑time”, “24/7”, “high‑efficiency”, or “compliant” solutions) are aspirational or forward‑looking in nature. Actual outcomes may differ due to market conditions, technological constraints, and regulatory developments, and PhotonPay makes no express or implied representation, warranty, or guarantee as to the achievement of any particular result.

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Rockwell Automation Unveils Record-Breaking Innovation Lineup at Automation Fair 2026

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From AI-powered manufacturing and next-generation control to cybersecurity and digital engineering, Rockwell showcases technologies designed to help manufacturers build the future of industrial operations

MILWAUKEE, Oct. 27, 2026 /PRNewswire/ — Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, today announced an expanded product showcase for Automation Fair® 2026. Across the plant floor and enterprise, Rockwell’s latest innovations help manufacturers unlock greater productivity, simplify operations and strengthen resilience in an increasingly complex industrial environment. Together, these technologies demonstrate how AI, automation and digital transformation are reshaping the future of industrial operations.

At Automation Fair 2026, attendees will get an exclusive look at new technologies designed to help manufacturers modernize production, accelerate decision-making and scale innovation with greater confidence. The innovations span Rockwell’s automation and software portfolio showcasing practical applications that address some of the industry’s most pressing operational challenges.

“Production systems today are balancing growth, workforce challenges, cybersecurity threats and the need to adapt faster than ever before,” said Matheus Bulho, senior vice president, software & control, Rockwell Automation. “At Automation Fair 2026, we’re bringing together hardware, software and industrial intelligence in new ways, giving customers the tools to move faster, adapt with confidence and create more resilient and autonomous operations.”

Among the list of record-breaking innovative new technologies being showcased are:

LogixEdge™ Controller, enhancing the power of Logix with new form factors and seamless integration of IT and OT workloads that further amplify Logix’s powerful multidiscipline control and information capabilities, including AI workloads that enable autonomous controlCompactLogix® 5390 Controller, delivering enhanced performance and security with greater scalability for modern production system environments.PointMax™ I/O, a next-generation I/O platform designed to simplify deployment and support high-performance machine applications.Armor™ PowerFlex® 330 Integrated Drive Motor, combining motor and drive functionality in a compact solution to reduce complexity and accelerate installation.EtherNet/IP™ In-cabinet Solution, helping manufacturers simplify what it takes to construct, wire, deploy and manage industrial control systems more efficiently.FactoryTalk® Optix™ Version 1.9 and new OptixPanel™ Pro and PanelView™ Pro graphic terminals, providing expanded visualization capabilities across larger distributed systems, enhanced security and a modern operator experience.FactoryTalk® Conductor™, enabling organizations to orchestrate industrial intelligence and agentic engineering across design, operations and maintenance for their entire operations.FactoryTalk® AssetIQ™, FactoryTalk® Design Workbench™ and FactoryTalk® ResilientEdge™ software, helping customers simplify enterprise OT asset management, streamline engineering and improve resilience of edge deployments.New AI innovations for the Plex Smart Manufacturing Platform™ and AI-powered Quality Management capabilities, bringing practical artificial intelligence to everyday manufacturing workflows.Expanded cybersecurity offerings, including SecureOT™ Platform Managed Services, OT Cybersecurity Assessment Suite, and capabilities designed to support OEMs in building more secure machines from the start

In addition to product announcements, attendees will have the opportunity to experience live demonstrations, engage with Rockwell Automation experts and partners and explore the innovations driving greater productivity, flexibility and resilience across manufacturing.

Registration is now open. Join thousands of industrial professionals at Automation Fair 2026 and be among the first to experience Rockwell’s latest innovations in action. Register today at automationfair.com.

About Rockwell Automation
Rockwell Automation, Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 26,000 problem solvers dedicated to our customers in more than 100 countries. To learn more about how we are bringing the Connected Enterprise® to life across industrial enterprises, visit www.rockwellautomation.com.

 

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