The global custom synthesis and manufacturing  market was valued at US$271.33 billion in 2022. The  market value is expected to reach US$474.94 billion  by 2028.

Custom Synthesis and Manufacturing (CSM) is on  the rise across the world, driven by strong growth in  end-use demand, innovators shifting focus to core  competencies and outsourcing of production to low  manufacturing cost destinations.

The CSM market is expected to continue to grow  due to the increasing demand for pharmaceuticals,  growing complexity of drugs, advancements in  technology, increasing patent expiry, and growing  trend of green manufacturing. The market is  expected to grow at a CAGR of approx. 10% during  the forecasted period of 2023-2028.

The global custom synthesis and manufacturing  market growth is predicted to be supported by  numerous growth drivers such as the growing  pharmaceutical industry, rising agrochemical  industry growth, surging cases of cancer, escalating  pharma research and development spending,  increasing demand for specialty chemicals,  increasing regulatory compliance requirement,  increasing outsourcing trend, and many other  factors. There are several regulatory compliance  requirements that chemical and drug manufacturers  must follow to ensure the safety and efficacy of their  products.

The market is projected to grow at a fast pace  during the forecast period, due to various latest  trends such as integration of AI/MI, increasing  patent expiry, technological advancement, green  manufacturing, increasing role of automation and  robotics, etc.

The market is projected to grow at a fast pace  during the forecast period, due to various latest  trends such as integration of AI/MI, increasing  patent expiry, technological advancement, green  manufacturing, increasing role of automation and  robotics, etc.

When a drug or chemical’s patent expires, it  opens up opportunities for generic drug  manufacturers and other companies to produce  and sell the same drug or chemical. This often  leads to increased competition, which in turn  drives down the price of the drug or chemical. As  a result, many pharmaceutical and chemical  companies are increasingly turning to custom  synthesis and manufacturing services to reduce  costs and increase efficiency.

Reference:  release/2023/04/26/2654790/0/en/Global-Custom-  Synthesis-Manufacturing-Market-to-2028-  Increasing-Regulatory-Compliance-Requirement-  Fuels-the-Sector.html  0848/global-custom-synthesis-and-manufacturing-  csm

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