Summary:

India's CRDMO sector is expected to grow to Rs. 1,91,070-2,17,125 crore (US$ 22-25 billion) by 2035, driven by cost advantages, rapid project initiation, and expertise in biologics. A BCG and IPSO study positions India as a global pharmaceutical hub. With a 15% CAGR, India’s CRDMO market is anticipated to outpace global growth, fueled by demand for innovative treatments and supply chain realignment.

India currently holds a 2-3% share of the global Rs. 12,15,900-12,59,325 crore CRDMO market, with an additional Rs. 86,850 crore opportunity as Western pharmaceutical firms seek alternative hubs. Key growth drivers include supply chain diversification, pricing pressures, and policies like the IRA. Challenges remain, such as expanding the talent pool and strengthening ESG compliance. The government has allocated Rs. 25,000 crore to promote innovation and growth.

Source: IBEF 

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