Contract Research And Manufacturing Services (CRAMS): A Leading Driver Behind CRAMS Market Thrives On Ageing Population And Chronic Diseases Market Expansion in 2025

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What Will the Contract Research And Manufacturing Services (CRAMS) Industry Market Size Be by 2025?
There has been a considerable growth in the contract research and manufacturing services (crams) market size over the past few years. It is projected that it will advance from a valuation of $143.71 billion in 2024 to a staggering $155.61 billion in 2025, marking a compound annual growth rate (CAGR) of 8.3%. The substantial growth witnessed in the previous period is linked to the accelerating trend of outsourcing, escalating challenges in drug development, a strategic emphasis on core competencies, regulatory pressures, and the globalization of the pharmaceutical industry.

What's the Long-Term Growth Forecast for the Contract Research And Manufacturing Services (CRAMS) Market Size Through 2029?
The market size for contract research and manufacturing services (crams) is projected to experience swift expansion in the upcoming years. It's estimated to rise to "$232.73 billion by 2029 with a compound annual growth rate (CAGR) of 10.6%. The projected growth during this period can be linked to factors such as the rising number of drug development pipelines, emphasis on time and cost-effectiveness, advancements in the biopharmaceutical sector, and the customization of services. Key trends anticipated during this forecast period include a shift towards integrated services, technological progress in manufacturing, a growing demand for contract manufacturing, the implementation of adaptable business models, and a focus on sustainable and environmentally friendly practices.

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What Are the Key Growth Drivers Fueling the Contract Research And Manufacturing Services (CRAMS) Market Expansion?
Boosting the contract research and manufacturing services (CRAMS) market is the increasing elderly population grappling with various chronic illnesses, a trend expected to persist into the future. The swift growth of the world's ageing populace predicts a rise in the proliferation of diverse ailments like cancer, diabetes, Alzheimer's, arthritis among others, leading to a higher demand for specific drugs and medicines. This in turn, inflates the need for contract research and manufacturing services. For example, Australia's population, which in 2022 stood at 26 million according to the Australian Bureau of Statistics, is projected to range between 34.3 million to 45.9 million by 2071. Additionally, the median age, presently 38.5 years, is forecasted to climb to a range of 43.8 to 47.6 years. This surge in the elderly population signifies a potential driver for the expansion of the contract research and manufacturing services (CRAMS) market.

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What Are the Key Trends Driving Contract Research And Manufacturing Services (CRAMS) Market Growth?
The contract research and manufacturing services (CRAMS) market is gradually incorporating artificial intelligence (AI) to bolster its position in the market. Essentially a subfield of computer science, AI emulates human behavior in machines and can help avoid high-cost maintenance by predicting when it's needed and bolstering the healthcare system. For example, in June 2024, Medidata, an American tech firm, introduced the Medidata clinical data studio, a platform specialized in assimilating and managing clinical trial data from multiple sources to enhance the precision and efficiency of clinical research. This platform employs AI to streamline data review and reconciliation, thereby empowering study groups to identify potential data problems and safety signals more effectively. This comprehensive platform caters to data integration, transformation, and management, facilitating users to implement robust risk-based quality management strategies and gain real-time insights.

How Is the Contract Research And Manufacturing Services (CRAMS) Market Segmented?
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 Companies Are Leading the Charge in Contract Research And Manufacturing Services (CRAMS) Market Innovation?
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

Which Regions Are Leading the Global Contract Research And Manufacturing Services (CRAMS) Market in Revenue?
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.

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