CRAMS Earn $895 Million

A Frost & Sullivan study has shown that the contract research and manufacturing services(CRAMS) industry in India is estimated to have earned revenues of approximately $895 million in the year 2006. Over the last five years the CRAMS industry contributed close to 8% of the total Indian pharmaceutical business.

 

Factors like a vast expanse of specialty hospitals with state-of-the-art facilities (nearly 700,000 hospital beds and 221 medical colleges); large English speaking population and rich talent pool; diverse population - large and diverse gene pool; an increasing number of chronic diseases and a combination of diseases characteristic of developing and developed countries is expected to propel the CRAMS industry to grow at a CAGR of nearly 32%.

 

The report offers coverage on composition of the CRAMS market and value chain components. Additionally, it highlights factors propelling growth of this market in India, slated to be a driver for the Indian pharmaceutical and the life sciences industry. The study looks at market composition, growth, drivers and restraints, challenges and regulatory aspects affecting each value chain component.

 

Mahesh Sawant, program manager, healthcare practice, Frost & Sullivan, says, "The Indian Life Sciences industry is transitioning towards newer business models such as CRAMS. The CRAMS model is slowly moving up the value chain with focus now shifting towards providing services in areas within contract research and manufacturing, which were traditionally not looked at.''

 

 








Added on May 7, 2007 Comment

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