India is emerging as a Preferred Destination for CRAMS due to a combination of factors, say Experts

According to Vivek Srivastava, senior vice president, innovation, business strategy, and scientific affairs, and Yuvraj Datta, director, manufacturing & process excellence, Zeon Lifesciences, Indian pharmaceutical and nutraceutical companies are increasingly recognising the benefits of outsourcing various aspects of their operations. Because of a mix of variables that support a healthy outsourcing environment, the country has emerged as a favoured location for contract research and manufacturing services (CRAMS). With a big pool of qualified scientific and technical personnel, India has emerged as a top alternative for firms seeking cost-effective solutions without sacrificing quality. Currently CRAMS in India is thriving and holds considerable growth potential.

The country has established itself as a prominent player in the global CRAMS market, offering a wide range of services and capabilities. The industry in India is experiencing a rapid surge, projected to achieve a remarkable compound annual growth rate (CAGR) of 12.5% from 2022 to 2028, ultimately reaching a valuation of $50 billion by 2028. The industry has witnessed significant investments in infrastructure and technology, enabling CRAMS in India to deliver advanced solutions. Companies are engaged in specific areas of the value chain, such as drug discovery, clinical trials, and manufacturing to drive higher efficiency and effectiveness within the industry.

We see that it is innovation, quality, and cost-efficiency in CRAMS in India which is both domestic and international pharmaceutical & nutraceutical companies seeking outsourcing partnerships, said Srivastava. CRAMS in India appears promising as global companies increasingly outsourcing their research and manufacturing activities from India. To stay competitive, Indian CRAMS providers are focusing on innovation, investing in R&D capabilities, and forging strategic partnerships. With the world forging in a digital era, digitalization and automation plays a vital role in the industry.