The outsourcing of biologics development and manufacturing services across the product lifecycle would be driven by the expansion in biopharmaceutical sales and pipeline as well as the complexity of molecules. Additionally, the rising number of molecules (recombinant proteins and antibodies) in the pipeline being developed by small and virtual biotechs (>60%) who lack in-house manufacturing capabilities and expertise to bring their candidates to market would in turn boost the demand for CDMO services. The global biologics CDMO market is anticipated to witness a CAGR of ~15% to reach $35 billion by 2025, driven by the rising biopharmaceutical end market, rapidly expanding pipelines of cell & gene therapies & new vaccines, and significant VC funding.