CRDMO Pie Will Get Bigger For India

New Delhi: India could potentially account for 8-10 per cent of work share outsourced to CRDMOs globally by 2033, an outcome of a significant amount of work shifting from EU and the US to Asia, a report by McKinsey & Company has said.

The global CRDMO (Contract Research Development & Manufacturing Organisation) industry is about to witness a re-distribution of outsourcing work across several Asian countries, with India and Korea emerging as new powerhouses by 2033, the report said.