A new forecast from Mordor Intelligence predicts that while the India CDMO market size currently stands at $22.5 billion, it is projected to reach $44.6 billion by 2029, growing at a CAGR of 14.67% during the five year forecast period. Amritt’s projections for the growth rate are higher, based on our proprietary information.
Here is a graph from PharmaSource by country.
India is already the world’s largest supplier of generic medications. It dominates the Over-the-Counter (OTC) drug export market in the United States, commanding over 40% of the market share, and approximately 60% of the world’s vaccines are produced in India.
Last updated: December 26th, 2025
