Global Contract Research And Manufacturing Services (CRAMS) Market Research Report 2023-2027 & 2032: AI in CRAMS - How Modern Tech is Transforming Traditional Pharma Research
DUBLIN, Sept. 29, 2023 /PRNewswire/ -- The "Contract Research And Manufacturing Services (CRAMS) Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global contract research and manufacturing services (crams) market grew from $120.23 billion in 2022 to $129.97 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The contract research and manufacturing services (crams) market is expected to grow to $183.81 billion in 2027 at a CAGR of 9.1%.
In the evolving realm of pharmaceuticals and biotechnology, the quest for more agile and efficient strategies is paramount. The rise of Contract Research and Manufacturing Services (CRAMS) has been central to this transformation, offering cost-effective and holistic solutions ranging from clinical trials to the full commercialization of drugs.
The spectrum of services under CRAMS includes two main pillars: manufacturing and research. Manufacturing services encompass the entire drug development trajectory, from initial clinical trials to the final product rollout. In parallel, research services focus on outsourcing essential functions like clinical trial data management, statistical analysis, and more. Such comprehensive solutions cater to an array of clientele, from pharmaceutical giants and budding biotech firms to medical device manufacturers and academic stalwarts.
The current global dynamics, especially the escalating aging population battling chronic illnesses, has further augmented the demand for CRAMS. As the geriatric demographic burgeons, there's a proportional upsurge in diseases like cancer, Alzheimer's, and diabetes. This elevates the demand for diverse drugs and therapies, spotlighting the indispensable role of contract research and manufacturing services.
Technological strides, notably the incorporation of Artificial Intelligence (AI), are amplifying the potential of CRAMS. For instance, the Saudi Data and Artificial Intelligence Authority's Center for Artificial Intelligence recently inked a pact with IQVIA to pioneer advancements in healthcare data. Additionally, IQVIA's Avacare clinical research network leverages cutting-edge AI to streamline patient recommendations and enrich data insights.
Significant market movements include Thermo Fisher Scientific's acquisition of PPD, a global forerunner in clinical research services, for an impressive $17.4 billion in April 2021. This integration aims to offer clients a vast array of clinical research and lab services, streamlining drug development.
To conclude, the CRAMS industry is surging ahead, powered by demographic changes, technological innovations, and strategic collaborations, poised to redefine the pharmaceutical and biotech landscapes.
North America was the largest region in the contract research and manufacturing services (CRAMS) market in 2022. Asia-Pacific region is expected to grow at a faster pace in the forecast period.
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.
Major players in the contract research and manufacturing services (CRAMS) market are
- Boehringer Ingelheim International GmbH
- Catalent Inc.
- Lonza Group Ltd.
- Pharmaceutical Product Development LLC
- Baxter BioPharma Solutions
- AbbVie
- Grifols International S.A.
- Dalton Pharma Services
Key Topics Covered:
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
4.1 COVID-19 Impact On Contract Research And Manufacturing Services (CRAMS) Market
4.2 Ukraine-Russia War Impact On Contract Research And Manufacturing Services (CRAMS) Market
4.3 Impact Of High Inflation On Contract Research And Manufacturing Services (CRAMS) Market
5. Contract Research And Manufacturing Services (CRAMS) Market Size And Growth
5.1. Global Contract Research And Manufacturing Services (CRAMS) Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Contract Research And Manufacturing Services (CRAMS) Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Contract Research And Manufacturing Services (CRAMS) Market Segmentation
6.1. Global Contract Research And Manufacturing Services (CRAMS) Market, Segmentation By Services, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Manufacturing
- Research
6.2. Global Contract Research And Manufacturing Services (CRAMS) Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Pharmaceutical & Biotechnology Companies
- Medical Device Companies
- Academic Institutes
7. Contract Research And Manufacturing Services (CRAMS) Market Regional And Country Analysis
7.1. Global Contract Research And Manufacturing Services (CRAMS) Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Contract Research And Manufacturing Services (CRAMS) Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/g05f26
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