Press release
Contract Research And Manufacturing Services (CRAMS) Market Share, Drivers, Industry Share, Scope And Report 2033
Contract Research And Manufacturing Services (CRAMS) Market
The Business Research Company presents an extensive market research report on the Contract Research And Manufacturing Services (CRAMS) Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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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Key Market 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.
Market Drivers:
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.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/contract-research-and-manufacturing-services-global-market-report
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
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The Market Size Is Expected To Reach $214.51…
