Boston, MA -- (SBWIRE) -- 06/17/2014 -- The industry research publication titled 'The US CRAMS Market Outlook to 2018 - Driven by Ageing Population and Rise of Chronic Diseases' presents a comprehensive analysis of market size by value of CRAMS services in the US. The report entails the market share analysis and company profiles of major players in the CRAMS industry. The future analysis and segmentation by drugs and devices and therapeutic areas have also been discussed in each of the sub-segment.
The US is the most developed and active market across the globe in the area of contract research and manufacturing services. The CRAMS industry in the US has proliferated across a wide spectrum of research and development services with rising demand from pharmaceutical, medical device and biotechnology companies. However despite considered as the premier destination for outsourcing contract research and manufacturing services initially, the industry in the recent years has faced stiff competition from low cost destinations such as India and China. The US CRAMS market has grown at a CAGR of 10.6% during 2007-2013 achieving a market size of USD ~ billion in 2018. The revenues for CMO market generated USD ~ billion in 2013 while that from CRO market reached USD ~ billion in 2013. The CMO market of US has majorly been driven by the solid dose category which contributed nearly ~% of the US CMO industry in 2011. A number of factors have contributed to the increased demand of contract research services in the country. Rising aged population has been the major underlying factor for the growth of contract research services in the country since the prevalence rate of chronic diseases has been found to be the highest in the ageing population. The US CRAMS industry is majorly driven by innovation and development in the drugs segment. The drugs industry comprised of 70.0% of the contribution of the CRAMS industry with a market size of USD ~ billion in 2013. Therapeutic areas such as oncology, central nervous system disorders, infectious and cardiovascular diseases are gaining additional importance due to rising number of cases in the country. Oncology had the largest share in the US CRAMS market with a share of ~% followed by cardiovascular diseases with a share of ~% in 2013. In the coming years, the US CMO market is expected to reach USD ~ billion by 2018 representing a growth of 7.5% during 2013-2018 and would be overtaken by the CRO segment.
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The US CRAMS industry is expected to witness a steady growth rate of 11.9% during 2013-2018, to reach a market size of USD ~ billion in 2018. The government funding which has witnessed significant funding cutbacks due to economic downturn is expected to show improvement in the coming years, given the need for ground breaking clinical discoveries.
KEY TOPICS COVERED IN THE REPORT
- The market size of the US CRAMS market in terms of value in the last years (2007 - 2013)
Companies Mentioned in this Report: Quintiles, Boehringer Ingelheim, Covance, PPD, Parexel, Catalent, Lonza, Icon PLC, Patheon
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