Indian is known for its low cost manufacturing around the globe, leaving it a lead player in the global CRAMS market. Entire north America and the Europe see India as the preferred destination in south Asia apart from China. Being a base for skilled manpower with strong technical expertise and quality of supplies gives India an advantage over the other competing countries.
Indian CRAMS market contributes significantly, to serve the entire spectrum of the value chain Covering basic research, pre-clinical, Clinical services to API, Formulations, generics manufacturing services. Most of the Indian pharma engaged in manufacturing services are spreading the services to cover the entire gamut of the services to gain recognition in the industry as CRAMS organization.
Currently Indian CRAMS market estimated to be around USD 3.8 billion enjoys fairly a large pie of the 67 Bn dollars global market. India is a hub for the largest number of USFDA approved plants out side the united states and also having developed competency to the regulatory requirement of UK and Europe markets. Globally the services provided under the manufacturing comprise custom synthesis- involving scaling up and large scale production, Active Pharmaceutical Ingredients (API), Intermediate manufacturing and formulations involving varied dosage forms largely solid dosages.
Challenges: Though CRAMS market is growing year after year in India the sector is not devoid of challenges to its credit. Issues in relevant to intellectual property, competition with international competitors like China, safety concerns, long regulatory timelines, rise in the manufacturing cost, lack of effective project management capability and non-tariff barriers from developed countries. Adding to the above, shortage of skilled human resources, increase in the rate of attrition, competition new companies entering the business.
The conference would be a grate platform to discuss on the issues and challeges to come out with recommendations.