New report on the Small Molecules CDMO market projects it to reach $290 billion by 2031, growing at about 7% annually. The main driver is pharma companies outsourcing complex manufacturing, particularly for oncology drugs and high-potency APIs. North America currently holds the largest revenue share, supported by regulations like the BIOSECURE Act, but APAC is seeing the fastest growth due to cost advantages. The report highlights the $16.5 billion Novo Holdings acquisition of Catalent as a sign of consolidation and the increasing value of manufacturing infrastructure.