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Strategic Analysis of Contract Research and Manufacturing Services Market in India
Frost & Sullivan, Oct 2010, Pages: 157
Over the past 2 years the global pharmaceutical industry has been shifting its focus towards the emerging market such as India. The CRAMS segment in India is expected to be one of the biggest beneficiaries of this wave. This study presents a comprehensive study of the Indian contract research and manufacturing services market from drug discovery to pre-clinical toxicology, Active Pharmaceutical Ingredient (API), Formulations and Injectable in India. The study is built from detailed primary research - including evaluation of market size and components with those, as well as market opportunities to enable decisions with regards to future strategic direction and investment in the 2010–2015 period
Research Overview
This Frost & Sullivan research service titled Strategic Analysis of Contract Research and Manufacturing Services Market in India provides the market size, emerging trends, and profiles of key competitors. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: active pharmaceutical ingredients (APIs), solid formulations, liquid formulations, injectables, as well as chemistry, biology, and preclinical services.
Market Overview
Availability of Superior Manufacturing Facilities and Skilled Manpower Enables Growth in the Contract Research and Manufacturing Services Market in India
The contract research and manufacturing services (CRAMSs) market in India, which has been seeing robust growth over the past 5 years, is expected to maintain its upward growth trajectory. This growth is being reinforced by new opportunities in the drug discovery and preclinical toxicology domains. The contract manufacturing segment is expected to see tremendous growth, as companies are looking to reduce costs and serve new, emerging markets. Globally, Asia Pacific is the fastest-growing CRAMSs market, with India and China as the major hubs. In India, pharmaceutical companies have adapted well to the changing industry scenario, speeding up the tempo of research. The highly skilled labor pool is also ramping up the prospects for the CRAMSs market in India. Fast-approaching patent expiries have made pharmaceutical companies explore more research collaborations. “The need to reduce R&D and manufacturing costs will drive more outsourcing to India,” notes the analyst of this research service. “The country has the largest number of US FDA approved plants and is known for its low cost manufacturing capabilities.” Thus, India offers the right mix of capabilities and cost arbitrage for companies that are looking at reducing costs. Moreover, the country’s traditional strength in chemistry-based services has enhanced the attraction quotient for the CRAMSs market.
Although the prospects for the market look bright, there are some issues clouding its landscape. Logistical and infrastructural bottlenecks are the main challenges for Indian companies operating in the CRAMSs market. The Indian Government’s Special Economic Zone (SEZ) policy has tried to address infrastructure hurdles by creating export-oriented zones that have the necessary common infrastructure and single-window clearance systems. Intense competition from China has also posed a threat to the market. China, which controls the APIs market, is known for its superior infrastructure.
Over the last 5 years, Indian participants in the CRAMSs space have been building up confidence among the global pharmaceutical companies in their manufacturing capabilities and quality of service. Participants in this domain are resorting to alliances and cashing in on the opportunities offered by the fast-evolving global pharmaceutical environment. “The emerging alliance based models in the Indian pharmaceutical sector facilitate a high degree of collaboration between the various industry participants including the MNCs, domestic companies, research organizations and channel partners,” says the analyst. “Differentiation strategies have provided pharmaceutical companies the vital competitive edge for consolidation and growth.” The solid dosage form constitutes a major chunk of the formulation contract manufacturing services revenues. Injectable contract manufacturing services are poised to witness strong growth when compared to other dosage forms, fuelled by research in new products and technologies as well as reformulation of the existing products with new technologies.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Active pharmaceutical ingredients (APIs)
- Solid formulations
- Liquid formulations
- Injectables
- Chemistry, biology, and preclinical services
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