Contract Research And Manufacturing Services (CRAMS) Global Market Report 2024

Contract Research and Manufacturing Services (CRAMS) involve outsourcing product development and research to businesses offering cost-effective solutions, wherein the parent firm does not produce the item themselves.

Contract research and manufacturing services (CRAMS) encompass two primary service categories: manufacturing and research. Manufacturing services involve outsourcing drug development processes to specialized organizations within the pharmaceutical or biotechnology sectors on a contractual basis. These contract manufacturing organizations oversee the entire development lifecycle, from clinical trials through to drug commercialization. On the other hand, research services involve outsourcing various research-related tasks, such as clinical trial data management, database design and maintenance, data validation, medicine and disease coding, project management, quality and metric reporting, safety and efficacy summaries, statistical analysis planning and reporting, all conducted on a contractual basis. CRAMS are utilized by pharmaceutical and biotechnology firms, medical device companies, and academic institutions.

The contract research and manufacturing services (CRAMS) market research report is one of a series of new reports from The Business Research Company that provides contract research and manufacturing services (CRAMS) market statistics, including contract research and manufacturing services (CRAMS) industry global market size, regional shares, competitors with a contract research and manufacturing services (CRAMS) market share, detailed contract research and manufacturing services (CRAMS) market segments, market trends and opportunities, and any further data you may need to thrive in the contract research and manufacturing services (CRAMS) industry. This contract research and manufacturing services (CRAMS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 expansion observed in the historical period can be attributed to the growing trend of outsourcing, the escalating complexity in drug development processes, a strategic emphasis on core competencies, pressures from regulatory requirements, and the globalization of the 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%. Anticipated growth in the upcoming period is expected due to the expansion of drug development pipelines, a heightened focus on efficiency in terms of time and cost, advancements in biopharmaceuticals, and a trend toward customized services. Key trends projected for this period encompass a shift toward integrated services, technological advancements in manufacturing processes, a rise in demand for contract manufacturing, the adoption of flexible business models, and a greater emphasis on sustainable and environmentally friendly practices within the pharmaceutical industry.

The escalating expansion of the ageing demographic, coupled with a surge in chronic ailments, is poised to significantly bolster the contract research and manufacturing services (CRAMS) market within the projected timeframe. The global elderly population is rapidly growing and anticipated to persist in this trend. This demographic shift is anticipated to lead to a heightened incidence of prevalent conditions such as cancer, diabetes, Alzheimer's, arthritis, among others, subsequently driving up the demand for diverse pharmaceuticals. Consequently, there will be a commensurate rise in the necessity for contract research and manufacturing services. For instance, in 2020, the population aged 65 and above stood at 727 million, constituting 9.3% of the global populace, with projections indicating an increase to approximately 16.0% by 2050. Notably, statistics from the National Center for Biotechnology Information reveal that around 60% of cancer diagnoses are found in individuals aged 65 and above, with this age group accounting for 70% of cancer-related fatalities. Thus, the escalating age demographic and prevalence of chronic diseases are anticipated to be pivotal drivers behind the expansion of the contract research and manufacturing services (CRAMS) market.

The expansion of drug pipelines is anticipated to drive the growth of the contract research and manufacturing services (CRAMS) market in the projected timeframe. Drug pipeline denotes the assortment of drug candidates a company is developing or testing at a specific time. CRAMS play a pivotal role in drug pipeline progression by offering specialized support in identifying and validating potential drug targets through methods such as computational modeling and high-throughput screening. For example, as per a June 2023 report from Canada.ca, a government website based in Canada, around 9,000 new medications were undergoing clinical trials in 2022, marking an increase from less than 8,500 the previous year. Since 2018, there has been an average annual growth of 11% in the number of medications under development. Consequently, the surge in drug pipelines is a key driver behind the expansion of the contract research and manufacturing services (CRAMS) market.

The CRAMS market increasingly leverages Artificial Intelligence (AI) to fortify its market position. AI, a computer science field emulating human behavior in machines, offers predictive maintenance capabilities, cutting down on costly upkeep. Healthcare benefits from AI's predictive abilities, aiding in foreseeing maintenance needs and supporting the healthcare system. In May 2021, the Center for Artificial Intelligence, part of the Saudi Data and Artificial Intelligence Authority (SDAIA), inked an MOU with IQVIA to explore mutual opportunities for advancing healthcare data innovation in the Kingdom. This collaboration focuses on joint research and ideas in data and AI. Furthermore, IQVIA's Avacare clinical research network, launched in February 2020, taps into technology and analytics to enable more clinical trials at proficient sites. Avacare employs AI for patient recommendations and data-driven registrations, enhancing clinical research capabilities.

Leading firms in the contract research and manufacturing services (CRAMS) sector are increasingly forming strategic partnerships to fortify their market positions. These alliances in CRAMS drive operational efficiency, cost minimization, and expedited product development, fostering mutual success in drug research and manufacturing. For example, in February 2022, Moderna Inc., a US-based pharmaceutical and biotechnology company, and Thermo Fisher Scientific Inc., a US-based supplier of analytical instruments, unveiled a 15-year strategic collaboration pact. This agreement aims to facilitate dedicated large-scale manufacturing of Spikevax®, Moderna's COVID-19 vaccine, and other mRNA medicines in its developmental pipeline within the U.S. Building on their longstanding partnership, Thermo Fisher will continue to support Moderna's development pipeline through clinical research and contract manufacturing services. This expanded partnership seeks to optimize the production and global distribution of innovative mRNA medicines.

In April 2021, Thermo Fisher Scientific, a US-based company specializing in scientific instruments, reagents, consumables, and software solutions, confirmed its acquisition of PPD, a leading provider of clinical research services, for a total sum of $17.4 billion. This acquisition integrates PPD into Thermo Fisher's laboratory products and services division, enhancing their offerings to pharmaceutical and biotechnology clients. PPD's suite of clinical research and laboratory services is aimed at bolstering the effectiveness of drug development for these industries. Founded in 1985 and headquartered in the United States, Pharmaceutical Product Development (PPD) is a global contract research organization (CRO) delivering comprehensive and integrated services encompassing drug development, laboratory support, and lifecycle management.

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., Ache Laboratorios Farmaceuticos 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.

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.

The countries covered in the contract research and manufacturing services (crams) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The contract research and manufacturing services (CRAMS) market includes revenues earned by entities by minimizing cost and focusing on more functional areas. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Contract Research And Manufacturing Services (CRAMS) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on contract research and manufacturing services (crams) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for contract research and manufacturing services (crams) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The contract research and manufacturing services (crams) market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Services: Manufacturing; Research
• 2) By End User: Pharmaceutical & Biotechnology Companies; Medical Device Companies; Academic Institutes
• Companies Mentioned: Pfizer Inc.; Johnson & Johnson; Siemens AG; Roche Holding AG; Merck & Co. Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.