What Has Been the Progress and Growth of the Contract Research And Manufacturing Services (CRAMS) Market in Recent Years?
The contract research and manufacturing services (crams) market has seen considerable growth due to a variety of factors.
• Over the past few years, the contract research and manufacturing services (CRAMS) market has seen significant growth. The market will expand from $143.71 billion in 2024 to $157.07 billion in 2025, with a compound annual growth rate (CAGR) of 9.3%.
Factors leading to the growth during the historic period include an upward trend in outsourcing, increased complexity in drug development, focusing on key competencies, regulatory pressures, and globalization in the pharmaceutical industry.
What Is The Projected Growth Of The Contract Research And Manufacturing Services (CRAMS) Market?
The contract research and manufacturing services (crams) market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for contract research and manufacturing services (CRAMS) is projected to experience swift expansion in the following years. By 2029, it's anticipated to reach $237.88 billion, with a compound annual growth rate (CAGR) of 10.9%.
This growth during the projected period can be traced back to factors such as the expansion of drug development pipelines, an emphasis on time and cost efficacy, advancements in the field of biopharmaceuticals, and bespoke services. Key trends expected to emerge in the forecast period encompass a shift towards comprehensive services, technological developments in the manufacturing sector, a surge in demand for contract manufacturing, adaptive business models, and a focus on sustainable and environment-friendly practices.
What Are the Critical Driver Fuelling the Contract Research And Manufacturing Services (CRAMS) Market's Growth?
The anticipated rise in the elderly populace grappling with an array of chronic ailments is predicted to positively influence the expansion of the contract research and manufacturing services (CRAMS) market during the forecast period. The global geriatric population is expanding at an accelerating pace and this trend is slated to continue through the forecast timeline. As the number of elderly people rises, the incidence of diseases such as cancer, diabetes, Alzheimer’s, arthritis, among others, can also be expected to ascend, thereby boosting the demand for diverse drugs or medicines. Consequently, there will be a heightened requirement for contract research and manufacturing services. For example, data from the Australian Bureau of Statistics, a national statistical agency based in Australia, predicts an increase in Australia's population, which stood at 26 million in 2022, to somewhere between 34.3 million and 45.9 million by 2071. Furthermore, the median age, currently at 38.5 years, is forecasted to climb to anywhere between 43.8 and 47.6 years. Hence, the increasing ageing populace will act as a catalyst for the growth of the contract research and manufacturing services (CRAMS) market.
What Are The Principal Market Segments In The Global Contract Research And Manufacturing Services (CRAMS) Healthcare Industry?
The contract research and manufacturing services (CRAMS) market covered in this report is segmented –
1) By Services: Manufacturing, Research
2) By End User: Pharmaceutical And Biotechnology Companies, Medical Device Companies, Academic Institutes
Subsegments:
1) By Manufacturing: Active Pharmaceutical Ingredient (API) Manufacturing, Finished Dosage Form (FDF) Manufacturing, Biologics Manufacturing, Contract Manufacturing Of Medical Devices, Formulation Development And Manufacturing, Packaging And Labeling Services, Analytical Testing And Quality Control, Custom Synthesis And Production
2) By Research: Preclinical Research, Clinical Research (Phase I-IV), Drug Discovery And Development Services, Regulatory Affairs And Consulting, Bioanalytical Testing Services, Toxicology Testing, Process Development And Optimization, Clinical Trial Management And Monitoring, Pharmacovigilance And Safety Services
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Which Emerging Market Trends Are Altering The Contract Research And Manufacturing Services (CRAMS) Market?
The contract research and manufacturing services (CRAMS) industry is progressively employing artificial intelligence (AI) to reinforce its market standing. AI, a subset of computer science dedicated to emulating human behavior in machines, can predict when maintenance will be needed to prevent expensive repairs and support the healthcare system. For example, in June 2024, Medidata, an American technology firm, unveiled their clinical data studio. The tool specializes in merging and managing clinical trial data from various sources to increase the precision and effectiveness of clinical research. Artificial intelligence is employed to streamline the review and reconciliation of data, thus allowing study teams to efficiently identify potential data concerns and safety alerts. Additionally, the platform offers a comprehensive space for data integration, reformatting, and oversight, giving users the capacity to adopt robust risk-based quality management approaches and receive immediate insights.
Who Are the Key Players in the Contract Research And Manufacturing Services (CRAMS) Market?
Major companies operating in the contract research and manufacturing services (CRAMS) market include:
• Lonza Group
• Catalent Inc.
• WuXi AppTec
• Boehringer Ingelheim
• Charles River Laboratories
• Jubilant Life Sciences
• PRA Health Sciences
• Syngene International Ltd.
• Samsung Biologics
• Evotec AG
• AMRI (Albany Molecular Research Inc.)
• Parexel International Corporation
• ICON plc
• IQVIA Holdings Inc.
• PPD (Pharmaceutical Product Development)
• Recipharm AB
• Curia Global. Inc.
• Cambrex Corporation
• Labcorp Drug Development
• CordenPharma
• Medpace Holdings. Inc.
• FAMAR Health Care Services
• Rentschler Biopharma SE
• PCI Pharma Services
• Dishman Carbogen Amcis Ltd.
• Thermo Fisher Scientific Inc.
• ProPharma Group
• Longevity Biotech Inc.
• Siegfried AG
What are the Regional Insights into the Contract Research And Manufacturing Services (CRAMS) Market?
North America was the largest region in the contract research and manufacturing services (CRAMS) market in 2024. 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.
