The global biologics contract manufacturing market is estimated to reach over $19 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of ~9% during the forecast period.
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The biologics contract manufacturing market, also known as the biopharmaceutical CMO market, is a dynamic and rapidly growing sector with a large number of players investing in research and development activities for developing new modalities, such as antibody drug conjugates, biosimilars, and cell and gene therapies.