Overview and Scope
Contract research and manufacturing services (CRAMS) refer to the practice of contracting out product development and research services to businesses that can do so at a reasonable price. It is a procedure whereby the product’s parent firm does not actually produce the item themselves.
Sizing and Forecast
The contract research and manufacturing services (CRAMS) market size has grown strongly in recent years. It will grow from $132.8 billion in 2023 to $145.37 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to increasing outsourcing trend, rising complexity in drug development, strategic focus on core competencies, regulatory pressures, globalization of pharmaceutical industry.
The contract research and manufacturing services (CRAMS) market size is expected to see rapid growth in the next few years. It will grow to $214.51 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to increasing drug development pipelines, focus on time and cost efficiency, advancements in biopharmaceuticals, customization of services. Major trends in the forecast period include shift towards integrated services, technological advancements in manufacturing, increased demand for contract manufacturing, flexible business models, focus on sustainable and green practices.
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Segmentation & Regional Insights
The contract research and manufacturing services (CRAMS) market covered in this report is segmented –
1) By Services: Manufacturing, Research
2) By End User: Pharmaceutical & Biotechnology Companies, Medical Device Companies, Academic Institutes
North America was the largest region in the contract research and manufacturing services (CRAMS) market in 2023. Asia-Pacific region is expected to grow at a faster pace in the forecast period. The regions covered in the contract research and manufacturing services (crams) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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. According to the National Center for Biotechnology Information, about 60% of cancer cases occur in people 65 years of age and older, and 70% of deaths are caused by cancer at this stage. Therefore, the increasing age of the population with various chronic diseases will drive the growth of contract research and manufacturing services (CRAMS) market.
Key Industry Players
Major companies operating in the contract research and manufacturing services (CRAMS) market report are Pfizer Inc., Johnson & Johnson, Siemens AG, Roche Holding AG, Merck & Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi SA, Bristol-Myers Squibb Company, Thermo Fisher Scientific Inc., AstraZeneca plc, GlaxoSmithKline plc, 3M Company, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Baxter BioPharma Solutions, Celgene Corporation, Lonza Group Ltd., Grifols International S.A., Catalent Inc., Aché Laboratórios Farmacêuticos S.A., Aurobindo Pharma Ltd., Dr. Reddy’s Laboratories Ltd., Cipla Ltd., Almirall S.A., Glenmark Pharmaceuticals Ltd., Pharmaceutical Product Development LLC, Dalton Pharma Services, Alkem Laboratories Ltd., Lupin Ltd., Sun Pharmaceutical Industries Ltd., Torrent Pharmaceuticals Ltd., Wockhardt Ltd.
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. Global Contract Research And Manufacturing Services (CRAMS) Market Size and Growth
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32. Global Contract Research And Manufacturing Services (CRAMS) Market Competitive Benchmarking
33. Global Contract Research And Manufacturing Services (CRAMS) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Contract Research And Manufacturing Services (CRAMS) Market
35. Contract Research And Manufacturing Services (CRAMS) Market Future Outlook and Potential Analysis
36. Appendix
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