The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

 The contract research and manufacturing services (CRAMS) market has been on a robust growth trajectory in recent years. This blog delves into the current market dynamics, future projections, and key trends shaping this sector.

Current Market Overview

Market Size and Growth

• 2023-2024 Growth:
  • The market size increased from $132.8 billion in 2023 to $145.37 billion in 2024.
  • A compound annual growth rate (CAGR) of 9.5%.
• Growth Drivers:
  • Increasing outsourcing trends in the pharmaceutical industry.
  • Rising complexity in drug development.
  • Strategic focus on core competencies.
  • Regulatory pressures.
  • Globalization of the pharmaceutical industry.

View More On The Contract Research And Manufacturing Services (CRAMS) Market Report 2024 – https://www.thebusinessresearchcompany.com/report/contract-research-and-manufacturing-services-global-market-report

Future Market Projections

Expected Growth

• Forecast for 2028:
  • The market is expected to reach $214.51 billion by 2028.
  • Projected CAGR of 10.2%.
• Factors Contributing to Growth:
  • Expanding drug development pipelines.
  • Focus on time and cost efficiency.
  • Advancements in biopharmaceuticals.
  • Customization of services.

Key Trends in the CRAMS Market

Shift Towards Integrated Services

• Integrated Service Models:
  • Increasing preference for comprehensive, end-to-end solutions.
  • Benefits include streamlined processes and reduced time-to-market.

Technological Advancements

• Innovations in Manufacturing:
  • Adoption of cutting-edge technologies for enhanced efficiency and quality.
  • Examples include automation, AI, and advanced analytics.

Increased Demand for Contract Manufacturing

• Growing Outsourcing:
  • Pharmaceutical companies increasingly outsource manufacturing to focus on R&D.
  • Drives demand for contract manufacturing organizations (CMOs).

Flexible Business Models

• Adaptability:
  • Companies are adopting flexible business models to meet diverse client needs.
  • Includes customizable services and scalable solutions.

Focus on Sustainable Practices

• Green Initiatives:
  • Emphasis on eco-friendly and sustainable manufacturing processes.
  • Includes reducing waste and minimizing environmental impact.

Impact of Aging Population and Chronic Diseases

Growing Elderly Population

• Demographic Shifts:
  • Rapidly increasing aging population.
  • By 2050, people aged 65 and older will constitute about 16% of the global population.

Rise in Chronic Diseases

• Health Trends:
  • Higher prevalence of diseases like cancer, diabetes, Alzheimer’s, and arthritis.
  • 60% of cancer cases occur in individuals aged 65 and older.
• Market Implications:
  • Increased demand for drugs and, consequently, for CRAMS.

Strategic Collaborations in CRAMS

Importance of Collaborations

• Collaborative Efforts:
  • Strategic partnerships drive efficiency and cost reduction.
  • Accelerate drug development processes.

Notable Example: Moderna and Thermo Fisher

• 15-Year Collaboration:
  • Moderna and Thermo Fisher signed a strategic agreement in February 2022.
  • Focus on large-scale manufacturing of Spikevax® and other mRNA medicines.
  • Enhances production and global delivery of innovative mRNA medicines.

Major Acquisition: Thermo Fisher and PPD

Acquisition Details

• PPD Acquisition:
  • In April 2021, Thermo Fisher acquired PPD for $17.4 billion.
• Integration and Benefits:
  • PPD’s integration into Thermo Fisher’s laboratory products and services.
  • Enhances clinical research and laboratory services offerings.
  • Strengthens drug development efficacy for pharmaceutical and biotech customers.

Market Segmentation

Services and End Users

• By Services:
• By End User:
  • Pharmaceutical & Biotechnology Companies.
  • Medical Device Companies.
  • Academic Institutes.

Regional Insights

• North America:
  • The largest region in the CRAMS market in 2023.
• Asia-Pacific:
  • Expected to grow at a faster pace during the forecast period.

The CRAMS market is set for significant growth, driven by technological advancements, strategic collaborations, and an increasing demand for efficient and cost-effective drug development solutions. With the rising incidence of chronic diseases and an aging global population, the need for contract research and manufacturing services will continue to expand, making this a dynamic and promising sector.

Request A Sample Of The Global Contract Research And Manufacturing Services (CRAMS) Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=6041&type=smp