LONDON–(BUSINESS WIRE)–The global pharmaceutical contract research and manufacturing (CRAM) market is poised to grow by USD 69.09 billion during 2020-2024, progressing at a CAGR of over 9% during the forecast period. Request free sample pages
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The market is driven by the availability of cost-efficient resources in emerging markets. In addition, the growing need to focus on core competencies is anticipated to boost the growth of the pharmaceutical contract research and manufacturing (CRAM) market.
The drug development processes department of various emerging economies including Brazil, Mexico, China, and India is incorporating technological advances in its healthcare infrastructure. In addition, they are installing more US FDA-approved manufacturing plants. For instance, India has more than 100 US FDA-approved manufacturing facilities. These factors are encouraging many large and medium-sized pharmaceutical companies from developed countries to approach these countries and outsource the research and manufacturing operations of drugs and therapies. Outsourcing of these processes to emerging economies is gaining popularity due to the availability of labor at a comparatively lower price in emerging markets. Thus, the availability of cost-efficient resources in emerging markets is expected to drive market growth during the forecast period.
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Major Five Pharmaceutical Contract Research and Manufacturing (CRAM) Market Companies:
Boehringer Ingelheim International GmbH
Boehringer Ingelheim International GmbH operates the business under various segments such as Human Pharmaceuticals, Animal Health, and Biopharmaceuticals. The company offers animal pharmaceutical products, human pharmaceutical products, and biopharmaceuticals.
Cadila Healthcare Ltd.
Cadila Healthcare Ltd. offers veterinary, health, active pharmaceutical ingredients wellness products, and human formulations. The company also provides pre-clinical and clinical trials for immunologicals, anti-diabetics, gastrointestinal therapeutics, anti-infectives, antibiotics, cardiovascular therapeutics, analgesics, and respiratory therapeutics drug development.
Catalent Inc. operates under various business segments, namely Softgel Technologies, Clinical Supply Services, Biologics and Specialty Drug Delivery, and Oral Drug Delivery. The company provides clinical research services for biological drugs.
Dr. Reddy’s Laboratories Ltd.
Dr. Reddy’s Laboratories Ltd. offers products through the following business segments: Global Generics, Pharmaceutical Services & Active Ingredients, and Proprietary Products. The company offers Custom Pharma Services. It also offers intellectual property services for innovator pharmaceutical businesses.
ICON Plc conducts outsourced development services to generate revenue. The company provides independent product development solutions and services for the medical devices, biotechnology, and pharmaceutical industries.
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Pharmaceutical Contract Research and Manufacturing (CRAM) Market Service Outlook (Revenue, USD Billion, 2020-2024)
Pharmaceutical Contract Research and Manufacturing (CRAM) Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
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