India’s CDMO moment: scale, quality, and the climb up the value chain

India’s pharmaceutical industry has long been cast as the world’s pharmacy, churning out affordable generics and APIs at industrial scale. That narrative still holds, but a new one is taking shape: the rise of Indian contract development and manufacturing organizations (CDMOs) as credible global partners.

Scale remains the foundation, yet the story is no longer only about volume and price. It’s about quality, credibility, and the climb toward innovation-driven value.

At the broadest level, India’s CDMO sector is expanding at pace. Market estimates vary widely, but even the most conservative forecasts point to sustained growth. IMARC valued the sector at around $7.9 billion in 2024, while BCG and IPSO suggest the integrated CRDMO model could reach $22–25 billion by 2035. The more aggressive projections stretch to $64.2 billion by 2034. Methodologies differ, but the momentum is clear.