The Contract Research And Manufacturing Services (CRAMS) Global Market Report 2023 by The Business Research Company, provides contract research and manufacturing services (crams) market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Contract Research And Manufacturing Services (CRAMS) Global Market Report 2023, the market size is expected to grow from$120.23 billion in 2022 to $129.97 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the contract research and manufacturing services (CRAMS) is expected to grow to $183.81 billion in 2027 at a CAGR of 9.1%.The rising ageing population with various chronic diseases is expected to have a positive impact on the growth of the contract research and manufacturing services (CRAMS) market in the forecast period. The world’s ageing population is growing rapidly and is expected to continue over the forecast period. With the increase in the geriatric population, the prevalence of various diseases like cancer, diabetes, Alzheimer’s, arthritis, and other diseases will also rise, and the demand for various drugs or medicines will increase. As a result, the need for contract research and manufacturing services will grow. For instance, as of 2020, there were 727 million people above the age of 65, which constituted 9.3% of the world population, and it is expected to increase to around 16.0 % in 2050.
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The contract research and manufacturing services (crams) market is segmented:
1) By Services: Manufacturing, Research
2) By End User: Pharmaceutical & Biotechnology Companies, Medical Device Companies, Academic Institutes
Artificial intelligence (AI) is increasingly being used by the contract research and manufacturing services (CRAMS) market to strengthen its market position. Artificial intelligence is a branch of computer science dealing with the simulation of human behavior in machines. AI can help to avoid costly maintenance by predicting when maintenance is needed by supporting the healthcare system. For instance, in May 2021, the Center for Artificial Intelligence, a part of the Saudi Data and Artificial Intelligence Authority (SDAIA), signed a memorandum of understanding (MOU) with IQVIA for exploring opportunities of mutual interest to advance innovation in the field of healthcare data in the Kingdom by developing common ideas and research in the field of data and artificial intelligence. In addition, IQVIA launched the Avacare clinical research network in February 2020, a technology-based global site network that provides an opportunity for more clinical trials at experienced clinical and research sites. Avacare uses innovative clinical technology with advanced analytics to deliver artificial intelligence-based patient recommendations and data-driven registration.
The contract research and manufacturing services (crams) market report table of contents includes:
1. Executive Summary
2. Contract Research And Manufacturing Services (CRAMS) Market Characteristics
3. Contract Research And Manufacturing Services (CRAMS) Market Trends And Strategies
4. Contract Research And Manufacturing Services (CRAMS) Market – Macro Economic Scenario
5. COVID-19 Impact On Contract Research And Manufacturing Services (CRAMS) Market
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26. Africa Contract Research And Manufacturing Services (CRAMS) Market
27. Contract Research And Manufacturing Services (CRAMS) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Contract Research And Manufacturing Services (CRAMS) Market
29. Contract Research And Manufacturing Services (CRAMS) Market Future Outlook and Potential Analysis
30. Appendix
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