The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s contract research and manufacturing services (CRAMS) market report forecasts the contract research and manufacturing services (CRAMS) market size to grow to $183.81 Billion by 2027, with a CAGR (compound annual growth rate) of more than 9%.

Learn More On The Contract Research And Manufacturing Services (CRAMS) Market Report 2023 – https://www.thebusinessresearchcompany.com/report/contract-research-and-manufacturing-services-global-market-report

Contract Research And Manufacturing Services (CRAMS) Market Size Forecast
The global contract research and manufacturing services (CRAMS) market is expected to grow from $120.23 billion in 2022 to $129.97 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The contract research and manufacturing services (CRAMS) market size is expected to grow to $183.81 billion in 2027 at a CAGR of 9.1%.

North America held the largest contract research and manufacturing services (CRAMS) market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Contract Research And Manufacturing Services (CRAMS) Market Driver ­– Rise In Ageing Population With Various Chronic Diseases
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 contract research and manufacturing services market growth.

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

Key Contract Research And Manufacturing Services (CRAMS) Market Trend – Adopting Artificial Intelligence
Artificial intelligence is a branch of computer science dealing with the simulation of human behavior in machines. AI can help to avoid costly maintenance by predicting when maintenance is needed by supporting the healthcare system. For instance, in May 2021, the Center for Artificial Intelligence, a part of the Saudi Data and Artificial Intelligence Authority (SDAIA), signed a memorandum of understanding (MOU) with IQVIA for exploring opportunities of mutual interest to advance innovation in the field of healthcare data in the Kingdom by developing common ideas and research in the field of data and artificial intelligence. In addition, IQVIA launched the Avacare clinical research network in February 2020, a technology-based global site network that provides an opportunity for more clinical trials at experienced clinical and research sites. Avacare uses innovative clinical technology with advanced analytics to deliver artificial intelligence-based patient recommendations and data-driven registration.

Contract Research And Manufacturing Services (CRAMS) Market Segment
1) By Services: Manufacturing, Research
2) By End User: Pharmaceutical & Biotechnology Companies, Medical Device Companies, Academic Institutes

Contract Research And Manufacturing Services (CRAMS) Market Major Players and Strategies
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., and Dalton Pharma Services.

In April 2021, Thermo Fisher Scientific, a US-based company offering scientific instrumentation, reagents, consumables, and software services announced the acquisition of the clinical research services provider PPD for a total of $17.4 billion. Through this acquisition, PPD will become part of Thermo Fisher’s laboratory products and services business and will provide pharmaceutical and biotechnology customers with a series of clinical research and laboratory services to help them improve the efficacy of drug development. Pharmaceutical Product Development (PPD), was founded in 1985 and is headquartered in the United States. It is a global contract research organization (CRO) that provides comprehensive and integrated services in the fields of drug development, laboratory, and lifecycle management.

The Contract Research And Manufacturing Services (CRAMS) Global Market Report 2023 covers regional data on contract research and manufacturing services (CRAMS) market size, contract research and manufacturing services (CRAMS) market trends and drivers, opportunities, strategies, and contract research and manufacturing services (CRAMS) market competitor analysis. 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, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Contract research and manufacturing services (CRAMS) refer to the practise of contracting out product development and research services to businesses that can do so at a reasonable price. It is a procedure whereby the product’s parent firm does not actually produce the item themselves.

View More Reports Related To The Contract Research And Manufacturing Services (CRAMS) Market –
Contract Development Manufacturing Organizations Global Market Report 2023
Electronic Contract Manufacturing And Design Services Global Market Report 2023
Pharmaceutical Contract Development And Manufacturing Organization (CMO) Global Market Report 2023

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: