Pharmaceutical Contract Research and Manufacturing (CRAM) Market size to grow by USD 121.35 billion from 2022 to 2027; Asia to account for 41% of market growth - Technavio

NEW YORK, Jan. 16, 2024 /PRNewswire/ -- The pharmaceutical contract research and manufacturing (CRAM) market is expected to grow by USD 121.35 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 10.32% during the forecast period, according to Technavio Research. The market is segmented by service (CMO and CRO), end-user (big pharmaceuticals, small and medium-sized pharmaceuticals, and generic pharmaceuticals), and geography (North America, Asia, Europe, and the Rest of the World (ROW)). Asia is estimated to contribute 41% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to companies is North America. Numerous small- and medium-sized pharmaceutical and biotechnology companies in the region rely on the technologies and services offered by Contract Research Organizations (CROs).

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Company Profile:

Almac Group Ltd., Boehringer Ingelheim International GmbH, Cadila Pharmaceuticals Ltd., Catalent Inc., Charles River Laboratories International Inc., Cmic Holdings Co. Ltd., Dr Reddys Laboratories Ltd., ICON plc, IQVIA Holdings Inc., Laboratory Corp. of America Holdings, Lonza Group Ltd., Lupin Ltd., Recipharm AB, Samsung Electronics Co. Ltd., Syneos Health Inc., Thermo Fisher Scientific Inc., PCI Pharma Services, Parexel International Corp., OPTIMAPHARM d.o.o., and Novotech Australia Pty Ltd.

Almac Group Ltd. - The company offers pharmaceutical contract research and manufacturing such as API Services, Chemical Development, and Pharmaceutical Drug Product Development.

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Pharmaceutical Contract Research And Manufacturing (CRAM) Market: Segmentation Analysis

The market share growth of the CMO segment will be significant during the forecast period.

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Pharmaceutical Contract Research And Manufacturing (CRAM) Market: Driver & Trend:

• Availability of cost-efficient resources in emerging markets
• Growing need to focus on core competencies
• Strong research funding

The availability of cost-efficient resources in emerging markets is a key factor driving market growth. Significant advances in their healthcare infrastructure and technological progress have been made by countries like China, India, Brazil, and Mexico about drug development. The availability of labor at relatively low prices compared with advanced economies is one of the main reasons why outsourcing these activities has become increasingly popular.

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The Pharmaceutical Contract Research and Manufacturing (CRM) market encompasses a broad spectrum of services vital to drug development. Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs) play pivotal roles in conducting Clinical Trials, ensuring Regulatory Compliance, and adhering to Good Manufacturing Practice (GMP). From Bioavailability Studies to Pharmacovigilance, these entities handle Formulation Development, Analytical Testing, and API Manufacturing. Comprehensive offerings extend to Drug Manufacturing, Preclinical Services, and Bioequivalence Studies. Additionally, services cover Drug Discovery, Scale-up, Technology Transfer, Stability Testing, Regulatory Affairs, and Phase I-IV Trials. Chemistry, Manufacturing, and Controls (CMC), Clinical Data Management, and Biopharmaceuticals further bolster this sector.

Outsourcing extends to Validation Services, Supply Chain Management, Packaging, Labeling, Quality Control, Clinical Data Analysis, and Project Management, emphasizing a holistic approach. Effective Risk Management is imperative for success in this dynamic and regulated industry.

Related Reports:

The Biologics Contract Development and Manufacturing Organization (CDMO) Market is estimated to grow by USD 10.63 billion at a CAGR of 10.46% between 2023 and 2028. 

The contract research organization (CRO) market size is estimated to grow by USD 63.35 billion at a CAGR of 12.61% between 2023 and 2028.

What are the key data covered in this pharmaceutical contract research and manufacturing (CRAM) market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the pharmaceutical contract research and manufacturing (CRAM) market between 2022 and 2027.
• Precise estimation of the pharmaceutical contract research and manufacturing (CRAM) market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the pharmaceutical contract research and manufacturing (CRAM) market across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of pharmaceutical contract research and manufacturing (CRAM) market companies.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Service

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

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SOURCE Technavio