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Industry Insight - CRAMS (Contract Research And Manufacturing Services) in India
CYGNUS Business Consulting & Research, Nov 2010, Pages: 101
CRAMS (Contract Research And Manufacturing Services) is one of the fastest growing segments in the pharmaceutical and biotechnology industry. It pertains to outsourcing research services/ manufacturing products to low-cost providers with world class standards, in line with international regulatory norms like the USFDA, Australian-TGA, UKMCA, and EMEA. Pharmaceutical multinationals have traditionally been outsourcing manufacture of intermediates, API's and formulations. Since late 1990s, CRAMS has gained more importance, as MNCs have been coming under intense pressure to cut costs to maintain their profitability.
The global market for pharmaceutical outsourcing was worth US$58 billion in 2009. It is expected to grow at a CAGR of over 14% (2007–2012) to reach US$85 billion by 2012. Out of the total market, contract research was US$21 billion in 2009 and is expected to touch US$32 billion, in 2012, with an annual growth of 15%. The contract manufacturing segment of global pharmaceutical outsourcing market was at US$37 billion in 2009 accounting for the major share (approximately 63.8%) of the total market.
India, with more than 175 US FDA-approved manufacturing facilities, is one of the most preferred locations for outsourcing manufacturing services in India by the multinationals and global pharmaceutical companies. The Indian CRAMS market was valued at US$2.5 billion in 2009 and is expected to reach US$7.6 billion by 2012, growing at a CAGR of 47.2% (2007-2012). Out of the total CRAMS market, contract research stood at US$0.9 billion in 2009 and is expected to touch US$3.4 billion, reflecting a CAGR of 62.51% (2007–2012). The contract manufacturing segment of CRAMS market was at US$1.6 billion in 2009 accounting for the major share (approximately 64%) of the total Indian CRAMS market.
This report gains significance in view of the growing prospects of CRAMS and the increasing interest of Indian pharma companies in exploiting the current opportunities. Containing 10 chapters, the report starts with the Introduction that outlines the broad overview of the concept of CRAMS, followed by Market Overview, which covers Indian market, its size, growth, characteristics with a brief global reference to outsourcing. Growth Drivers, Issues and Challenges, Critical Success Factors, Regulations and Future Outlook provide a directional view of the industry. This report would be useful to pharma companies, banks and financial services organisations, foreign investors, industry analysts, researchers and students.
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