The global contract development and manufacturing organization (CDMO) market is estimated to be an $80 billion industry, experiencing an 11%+ compound annual growth rate (CAGR). The United States leads as the largest market, valued at $23 billion, and is anticipated to sustain double-digit growth over the next five years. This growth is propelled by several factors, including the rise in robotic and minimally invasive surgeries, a shift towards local sourcing, and the consolidation of OEM suppliers. Mergers and acquisitions (M&A) remain robust in both activity and valuation, highlighted by the formation of over 15 private equity-backed medtech platforms since 2020. These platforms are actively pursuing a roll-up strategy, acquiring small CDMOs to augment their growth trajectory and expand their capabilities.