Global Contract Research/Manufacturing Organization

Increasing cost of healthcare for several chronic diseases, expiry of leading drug brands and increasing demand for cost effective drugs and devices to boost the demand for contract research services globally.   The contract research outsourcing services market accounted for ~% of the share in the global CRAMS industry in 2013 growing from ~% in 2007. The growing number of clinical trials owing to rising healthcare costs and increasing chronic diseases has driven the growth of contract research market over the years. The US accounted for nearly 46.0% of the clinical trials conducted globally, while 30.0% were conducted in Europe and remainder in Asia, Latin America, Africa and Middle East. Increased outsourcing of contract research services can be attributed to the growing incidence of infectious, cardio vascular, central nervous system and metabolic disorders which has increased the need for novel drug formulations. In the coming years, the CRO market is expected to grow at much faster pace as compared to the contract manufacturing market. The global CRO market has grown at a CAGR of 15.4% to register a market size of USD 34.3 billion in 2013. “By the end of 2011, more than 3,100 CROs operated in the US alone which offered research services to drugs and devices companies” – According to ‘Global CRAMS Market Outlook to 2018 – India and China Present Bright Prospect’ by Ken Research. The global CRO market is expected to grow to USD 70.5 billion by 2018 representing a CAGR of 15.5% during 2013-2018. Growth in the CRO industry would be promoted by collaboration between global pharmaceutical firms and CROs in order to bring to the market good quality and cost effective drugs. Additionally many of the global CROs would continue to set up their laboratories in emerging economies such as India, China and others to reap a large number of advantages offered by the respective government in these nations. The report provides detailed overview on the global CRAMS market and helps readers to identify the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, CRAMS organizations, pharmaceutical companies, and other stakeholders to align their market centric strategies according to ongoing and expected trends in future

 

 

Read More: http://www.kenresearch.com/healthcare/trial-diagnostic-services/global-crams-market-research-report/491-91.html

Tags: 2Y Chem, Asymchem Laboratories, Beijing Second Pharmaceutical Company Limited, Biocon Syngene, Cardiovascular, Central Nervous System, China, CMO, Contract Manufacturing Organization, Contract Research and Manufacturing Services, Covance, CRO, Device Market, Drugs Market, Germany, Global, Hangzhou Tiger med Consulting Company Limited, Huapont Pharmaceutical, ICON PLC, India, Infectious Diseases, Metabolism, Patheon, Quintiles, Shanghai Pharma Corporation, Therapeutic Class, Tigermed, US, Venturepharm Laboratories, Wuxi AppTec, Zhejiang Huahai Pharmaceuticals Company