Contract Research And Manufacturing Services (CRAMS) Market Growth Trajectory Through 2024-2033

Spread the love

The Contract Research And Manufacturing Services (CRAMS) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

Learn More On The Contract Research And Manufacturing Services (CRAMS) Market:

https://www.thebusinessresearchcompany.com/report/contract-research-and-manufacturing-services-global-market-report

According to The Business Research Company’s Contract Research And Manufacturing Services (CRAMS) Global Market Report 2024, 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.

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.

Get A Free Sample Of The Report (Includes Graphs And Tables):

https://www.thebusinessresearchcompany.com/sample.aspx?id=6041&type=smp

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

Major companies operating in the contract research and manufacturing services (CRAMS) market are going into strategic collaborations to sustain their position in the market. Strategic collaborations in CRAMS drive efficiency, cost reduction, and accelerated development, fostering shared success in drug research and manufacturing. For instance, in February 2022, Moderna Inc., a US-based pharmaceutical and biotechnology company, and Thermo Fisher Scientific Inc., US-based supplier of analytical instruments, announced a 15-year strategic collaboration agreement to enable dedicated large-scale manufacturing in the U.S. of Spikevax®, Moderna’s COVID-19 vaccine, and other investigational mRNA medicines in its pipeline. The collaboration builds on their longstanding partnership, with Thermo Fisher supporting Moderna’s development pipeline through clinical research and contract manufacturing services. This expanded agreement aims to enhance the production and delivery of innovative mRNA medicines globally.

The contract research and manufacturing services (crams) market report table of contents includes:

Executive Summary
Contract Research And Manufacturing Services (CRAMS) Market Characteristics
Contract Research And Manufacturing Services (CRAMS) Market Trends And Strategies
Contract Research And Manufacturing Services (CRAMS) Market – Macro Economic Scenario
Global Contract Research And Manufacturing Services (CRAMS) Market Size and Growth

Global Contract Research And Manufacturing Services (CRAMS) Market Competitive Benchmarking
Global Contract Research And Manufacturing Services (CRAMS) Market Competitive Dashboard
Key Mergers And Acquisitions In The Contract Research And Manufacturing Services (CRAMS) Market
Contract Research And Manufacturing Services (CRAMS) Market Future Outlook and Potential Analysis
Appendix

Top Major Players: