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Decision-makers in the biopharmaceutical industry expect the CRO and CDMO sectors to grow significantly over the next two years. According to the annual CPHI survey, revenues of the CRO sector will increase by 7.2 %, while those of the CDMO market will grow by 8.5 % by 2024. Venture capital (VC) and private equity (PE) liquidity reserves in particular will support this expansion. The overhang of private equity in the US is $749bn, and that of venture capital is another $300m. Inflation and energy prices, especially for parts of Europe’s generic and active pharmaceutical ingredient manufacturers, are the biggest challenges, triggered by the…