CRAMS is defined as the process of outsourcing research services/ product manufacturing activities to organizations which can provide the service at a low cost. CRAMS basically consists of the following two activities: contract research and contract manufacturing. CRAMS is mainly used in the Pharmaceutical and Biotechnology sectors that require extensive R&D and large-scale manufacturing facilities. It is expected that the demand for contract research and contract manufacturing is expected to increase in India in the future.
TechNavio’s analysts forecast the CRAMS market in India to grow at a CAGR of 32.67 percent over the period 2013-2018.