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The global Contract Research and Manufacturing Services (CRAMS) market is experiencing significant growth, set to expand from $120.23 billion in 2022 to $129.97 billion in 2023 at a Compound Annual Growth Rate (CAGR) of 8.1%. Projections suggest a continued upward trajectory, reaching $183.81 billion in 2027 with an impressive CAGR of 9.1%. In this blog, we explore the key factors propelling this growth, major players shaping the industry, and the role of artificial intelligence in fortifying the CRAMS market.

Rising Geriatric Population: A Driving Force

1. Impact of Aging Demographics:
   • The global aging population, prone to chronic diseases, is a significant factor driving the CRAMS market.
   • Diseases such as cancer, diabetes, Alzheimer’s, and arthritis are prevalent among the elderly.
2. Increasing Prevalence of Chronic Diseases:
   • With the rise in the geriatric population, the prevalence of chronic diseases is on the ascent.
   • The demand for drugs and medicines is expected to surge, necessitating the services provided by CRAMS.
3. Statistical Insights:
   • In 2020, there were 727 million people aged 65 and above, constituting 9.3% of the global population.
   • This percentage is projected to reach around 16.0% by 2050, emphasizing the accelerating trend.
4. Cancer and Aging:
   • Approximately 60% of cancer cases occur in individuals aged 65 and older.
   • 70% of cancer-related deaths are reported in this age group.
   • The aging population’s susceptibility to diseases underscores the crucial role of CRAMS.

Key Players Steering the CRAMS Market

1. Major Players:
   • Boehringer Ingelheim International GmbH
   • Catalent Inc.
   • Lonza Group Ltd.
   • Pharmaceutical Product Development LLC
   • Baxter BioPharma Solutions
   • AbbVie
   • Grifols International S.A.
   • Dalton Pharma Services

AI Revolutionizing CRAMS

1. Integration of Artificial Intelligence (AI):
   • AI is increasingly becoming a pivotal tool in the CRAMS market, enhancing efficiency and predictive capabilities.
   • The simulation of human behavior in machines helps in predicting maintenance needs, optimizing healthcare systems.
2. Strategic AI Partnerships:
   • The Center for Artificial Intelligence, part of the Saudi Data and Artificial Intelligence Authority (SDAIA), collaborates with IQVIA to advance innovation in healthcare data.
   • IQVIA’s Avacare clinical research network, launched in February 2020, utilizes AI-based patient recommendations and data-driven registration.
3. AI in Predictive Maintenance:
   • AI aids in predicting when maintenance is required, preventing costly disruptions.
   • The integration of AI strengthens the CRAMS market’s technological foundation.

Market Segmentation for Precision

1. Market Segmentation:
   • By Services:
     • Manufacturing
     • Research
   • By End User:
     • Pharmaceutical & Biotechnology Companies
     • Medical Device Companies
     • Academic Institutes

Regional Dynamics: North America Leading, Asia-Pacific Rising

1. North America’s Dominance:
   • In 2022, North America held the largest share in the CRAMS market, reflecting its mature and established healthcare landscape.
2. Asia-Pacific’s Accelerated Growth:
   • The Asia-Pacific region is poised to grow at a faster pace in the forecast period, highlighting its emergence as a key player in the CRAMS market.

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The Table Of Content For The Contract Research And Manufacturing Services (CRAMS) Market Include:
1. Contract Research And Manufacturing Services (CRAMS) Market Executive Summary
2. Contract Research And Manufacturing Services (CRAMS) Market Segments
3. Contract Research And Manufacturing Services (CRAMS) Market Size And Contract Research And Manufacturing Services (CRAMS) Market Growth Rate
4. Key Contract Research And Manufacturing Services (CRAMS) Market Trends
5. Major Contract Research And Manufacturing Services (CRAMS) Market Drivers
……
25. Key Mergers And Acquisitions In The Contract Research And Manufacturing Services (CRAMS) Market
26. Top Contract Research And Manufacturing Services (CRAMS) Companies
27. Contract Research And Manufacturing Services (CRAMS) Market Opportunities And Strategies
28. Contract Research And Manufacturing Services (CRAMS) Market, Conclusions And Recommendations
29. Appendix

The Contract Research And Manufacturing Services (CRAMS) Market Global Market Report 2023 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the contract research and manufacturing services (CRAMS) market.

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