The pharmaceutical manufacturing market size was valued at USD 454 billion in 2022 and is estimated to reach around USD 1,467.7 billion by 2032, growing at a CAGR of 12.5% from 2023 to 2032.
- North America led the global market with the highest market share in 2022.
- By Drug Development Type, the in-house drug development segment held the largest revenue share in 2022.
- By Route of Administration, the oral drugs segment dominated the global market in 2022.
- By Formulation, the tablets segment has held the highest market share in 2022.
- By Therapy, the cancer segment is estimated to hold the highest market share in 2022.
The pharmaceutical business is a vital segment of the larger healthcare ecosystem. The pharmaceutical industry primarily deals with scientific research activities and the development of medications that avert or treat ailments and disorders. The pharmaceutical industry comprises of both private as well as public establishments that conceive, promote, produce, and retail medicines. Modern technological and scientific breakthroughs are speeding up the detection and development of innovative medications or treatments with improved healing activity and less side effects. Medicinal chemists, molecular biologists, and pharmacists work collectively for enhancing the quality and efficiency of the drugs. Pharmaceutical manufacturing is the procedure of commercial-scale creation of medicines by pharmaceutical establishments.
Get the Sample Pages of the Report for More Understanding@ https://www.precedenceresearch.com/sample/1191
The growing demand for modernization of pharmaceutical manufacturing process has prompted leading companies to employ new technologies such as continuous pharmaceutical manufacturing. This technology offers probable flexibility, superiority, and economic rewards over batch processing, together in process manufacturing and expansion for the pharmaceutical sector. Since the past few years, there have been significant advancements in science and engineering to support the implementation of continuous pharmaceutical manufacturing. These advancements, together with the acceptance of the QbD paradigm for pharmaceutical progress and the development of PAT for designing, examining, and controlling production, have advanced the scientific and monitoring eagerness for continuous manufacturing.
Pharmaceutical Manufacturing Market Scope
|Growth Rate from 2023 to 2032
|CAGR of 12.5%
|Market Size in 2023
|USD 508.48 Billion
|Market Size by 2032
|2023 to 2032
|Drug Development, Route of Administration, Formulation, Therapy
|North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Factors such as increasing prevalence of chronic ailments, growing geriatric population, high investment in research and development, increasing focus on outsourcing manufacturing activities, increasing per capita healthcare expenditure, growing incidence of novel viral diseases, technological advancements in manufacturing processes, and improving reimbursement scenario in developing regions are driving the growth of pharmaceutical manufacturing market. Amplified focus on elderly and pediatric patients, high incidence of cardiovascular disorders, growing demand for home-based healthcare, and increased cancer and diabetes cases are further propelling the pharmaceutical manufacturing market expansion across the globe. Additional aspects that are anticipated to fuel this industry are increasing demand for new drug delivery approaches and reformulation of injections and oral medications.
The pharmaceutical industry is predominantly motivated by scientific advancements, in combination with clinical and toxicological experience. Major variances exist between large establishments and smaller organizations. Large pharmaceutical companies participate in an extensive range of medicine discovery and development, production and quality control, promotion and sales, whereas small pharmaceutical companies focus on a precise aspect.
- Among the drug development type segment, in-house drug development is expected to dominate the overall market. The use of in-house drug development capabilities by large pharmaceutical companies for securing the crucial information is a major reason for the high market share of in-house segment.
- The oral route of administration accounted for the largest revenue in the containers segment with more than 68% share in 2020. Affordability, ease of use and storage are the major reason for high market share of oral route of administration. Parenteral segment is expected to grow at the topmost CAGR during the forecast time-frame.
- Tablets accounted for the largest revenue in the formulation segment. Widespread availability of tablets is the key reason for high market share.
- Cancer accounted for the largest revenue in the therapy segment. High incidence of cancer globally and heavy investment in research and development for developing effective cancer therapies are the key reasons for high market share.
- F. Hoffmann-La Roche Ltd., Novartis AG, and Pfizer, Inc. accounted for a significant share of the global pharmaceutical manufacturing market.
The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2019, North America dominated the global market with a market share of more than 41%. U.S. signified the highest portion in the North American region largely due to large investment in pharmaceutical research and development and presence of skilled researchers. Furthermore, early implementation of latest therapies also contributed to the high market share of the United States.
Europe was the next important market mainly due to encouraging reimbursement scenario and high investment in research and development. The presence of leading companies in the European region is also expected to boost the demand for pharmaceutical manufacturing in the projected time-span. Asia Pacific is estimated to advance at the maximum CAGR of around 15.8% in the forecast period due to high incidence of chronic ailments. Middle East, Africa and Latin American region will exhibit noticeable progress.
Key Market Players and Strategies:
High investment in the research and development along with acquisition, mergers, and collaborations are the key strategies undertaken by companies operating in the global Pharmaceutical Manufacturing market. Moreover, the world organizations are providing help to the developing regions for stream lining healthcare. In December 2020, the European Investment Bank commenced the first ever arrangement to strengthen local manufacturing of (APIs) Active Pharmaceutical Ingredients in the African region and expand pharmaceutical manufacturing.
Key Market Developments:
- In August 2023, Saudi Arabia’s sovereign wealth fund announced the launch of a commercial-stage contract manufacturing organization, Lifera. The new organization aims to support the local biopharmaceutical industry to boost.
- In May 2023, headquartered in Ahmedabad, Cadila Pharma signed a Memorandum of Understanding (MoU) with the state of government of Gujrat in order to invest Rs.1,000 crore in different existing pharmaceutical projects. The investment will be made over three years and Cadila aims to open a new plant for active pharmaceutical ingredients.
- In August 2023, Metrion Biosciences Limited announced that it has received final notification from UK Medicines and Healthcare products Regulatory Agency. The notification stated that the Metrion is now a part of UK Good Laboratory Practice Compliance Monitoring Program. The certification allows the company to focus on small molecule therapeutics development.
Pharmaceutical Manufacturing Market Players
- GlaxoSmithKline plc
- Merck & Co., Inc.
- Eli Lilly and Company
- Johnson & Johnson
- Hoffmann-La Roche Ltd.
- Pfizer, Inc.
- Sanofi SA
- Novartis AG
Major Market Segments Covered:
By Drug Development Type
By Route of Administration
- Cardiovascular Diseases
- Respiratory Diseases
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
- North America
TABLE OF CONTENT
Call: +1 9197 992 333
- Disposable Syringes Market Size Hit US$ 12.59 Bn by 2032 - February 6, 2024
- Medical Devices Market Size to Hit US$ 996.93 Bn by 2032 - February 6, 2024
- Portable Medical Devices Market Size To Hit US$ 85.1 bn by 2027 - February 6, 2024