The global pharmaceutical contract research and manufacturing (CRAM)
market is expected to post a CAGR of more than 9% during the period
2019-2023, according to the latest market research report by Technavio.
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The global pharmaceutical contract research and manufacturing (CRAM) market is expected to post a CAGR of more than 9% during the period 2019-2023 (Graphic: Business Wire)
Developing countries such as India, China, Mexico, and Brazil are
witnessing significant improvements in their healthcare infrastructure
and technological innovations in their drug development processes. As a
result, several pharmaceutical companies from developed countries are
outsourcing the research and manufacturing operations to the vendors in
such countries. The availability of labor at a comparatively lower price
is one of the critical reasons for the growing popularity of outsourcing
these processes. Moreover, the rising number of US FDA-approved
manufacturing plants in developing countries also encourages
outsourcing. These factors will augment the growth of the pharmaceutical
CRAM market during the forecast period.
As per Technavio, the advent of big data will have a positive impact on
the market and contribute to its growth significantly over the forecast
period. This global
pharmaceutical contract research and manufacturing (CRAM) market
2019-2023 research report
also analyzes other important trends and market drivers that will affect
market growth over 2019-2023.
Global pharmaceutical contract research and
manufacturing (CRAM) market: Advent of big data
The pharmaceutical industry has undergone significant changes over the
years, in terms of technology for R&D of drugs. One of these significant
advances include the use of analytics for identifying various essential
aspects of research. The use of analytical tools for clinical data
synthesis helps companies to quicken the drug development process. Big
data helps avoid the high cost of adverse events. It also allows
companies to keep a record of patients for long durations, which enables
regular monitoring after treatment. The advent of big data will benefit
CROs as it makes the process more efficient.
“Several countries such as the UK, the US, Germany, Canada, and
France, have developed healthcare infrastructure and strong financial
support to study and develop therapies for the treatment of various
indications. Moreover, various institutions and government organizations
provide funding to vendors to develop advanced therapies to quicken the
approval process and ensure the safety of drug administrations. Strong
research funding will result in the development of novel therapies and
the growth of the pharmaceutical CRAM market during the forecast period,”
says a senior research analyst at Technavio.
Global pharmaceutical contract research and
manufacturing (CRAM) market: Segmentation analysis
This market research report segments the global pharmaceutical contract
research and manufacturing (CRAM) market by service (CMO and CRO) and
geographic regions (North America, Asia, Europe, and ROW).
The CMO segment held the largest pharmaceutical contract research and
manufacturing (CRAM) market share in 2018. Although the CRO segment held
the smallest share of the pharmaceutical CRAM market in 2018, it will
register the highest incremental growth during the forecast period.
The North America region led the market in 2018, followed by Asia,
Europe, and ROW respectively. The market growth in North America can be
attributed to the strong CRO segment in the region and the growing
popularity of CMOs in the US and Mexico.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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