Dublin, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The "Global Pharmaceutical Manufacturing Market Overview 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global pharmaceutical manufacturing market is expected to reach USD 929.9 billion by 2030. The market is expected to grow at a CAGR of 7.63% from 2023 to 2030.
The pharmaceutical industry has undergone significant transformations as a result of technological advancements, cost-effective methods, and increased investments. These factors have had a positive impact on the growth of the market. The implementation of robotic technology and Artificial Intelligence (AI) has played a crucial role in reducing manufacturing floor downtime and minimizing product waste. By incorporating these technologies, efficiency, and productivity in pharmaceutical manufacturing processes have been greatly improved.
In addition, traditional open-transfer manufacturing methods have been replaced by the adoption of single-use disposable solutions, leading to streamlined operations and reduced risks of contamination. Moreover, there has been a notable shift toward integrated, smart, and data-rich paperless operations within the industry. This transition has resulted in error-free and precise production processes, ensuring the production of high-quality pharmaceutical products. These ongoing advancements in the market have significantly contributed to the progress of drug manufacturing. The development of personalized medicine has brought about a revolution in the healthcare sector, offering new opportunities to target various health conditions and paving the way for patient-centric models.
Consequently, there has been a shift from large-scale production to smaller batches to cater to the development of complex medicines and personalized treatments tailored to individual patients. This transformative shift has prompted manufacturers to restructure their supply chains in alignment with the patient-centric healthcare system. All such factors propel pharmaceutical manufacturing market growth over the forecast period. Furthermore, leading companies in the pharmaceutical industry have taken strategic initiatives to enhance their market presence and gain a competitive advantage. These key players actively engage in various activities, such as product development, collaboration & partnership models, agreements, business expansion, and merger & acquisition strategies.
These initiatives are also aimed at strengthening their product portfolios and meeting the growing demand for pharmaceutical products. For instance, in April 2022, Ferring Pharmaceuticals inaugurated an integrated manufacturing and research and development (R&D) facility in Hyderabad, India. This facility underscores Ferring's commitment to expanding its operations and capabilities. The R&D division of the facility focuses on areas, such as packaging development, formulation development, and analytical development. Ferring Pharmaceuticals aims to enhance its product offerings and meet the evolving needs of the market by investing in these areas.
Pharmaceutical Manufacturing Market Highlights
- In 2022, the conventional drugs (small molecules) segment accounted for the highest revenue share of over 54.9%. This is attributed to the easy availability of small molecules products, with high market penetration.
- The outsourcing segment dominated the market in 2022 with a revenue share of over 53%. Several benefits associated with outsourcing operations are expected to drive the segment growth at a lucrative pace over the coming years.
- In terms of revenue, the tablets segment dominated the market with a share of over 26.08% in 2022. This is due to the wide availability of tablet-based products and types, such as film and enteric-coated, effervescent, and orally disintegrating tablets.
- The oral segment led the global market with a share of more than 58% in 2022. Oral dosage forms are affordable, easy to manufacture, and patient-friendly.
- The prescription medicines segment accounted for the maximum revenue share of 83.76% in 2022 and will expand further at a steady CAGR over the forecast period due to the growing prescription drug expenditures across the globe.
- North America dominated the market and accounted for a significant revenue share in 2022 due to a large number of strategic pharma partnerships, especially among the well-established and early-stage companies, in this region.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 170 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $516.48 Billion |
| Forecasted Market Value (USD) by 2030 | $929.9 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Rise in Pharmaceutical R&D Spending
- Rise in Focus Toward Healthcare Needs in Emerging Nations
- Technological Advancements
- Increase in Geriatric Population and Incidence of Chronic Disorders
- Restraints
- Patent Expiration of Most Profitable Drugs
- Pricing Pressures on Bio/Pharmaceutical Companies
Companies Mentioned
- F. Hoffmann-La Roche Ltd.
- Novartis AG
- GlaxoSmithKline plc
- Pfizer, Inc.
- Merck & Co. Inc.
- AstraZeneca
- Johnson & Johnson Services, Inc.
- Sanofi SA
- Eli Lilly and Company
- AbbVie, Inc.
- Thermo Fisher Scientific, Inc.
- Wuxi Apptec
- Samsung Biologics
- FUJIFILM Diosynth Biotechnologies U.S.A., Inc.
- Lonza
- Catalent Pharma Solutions
- Jubilant Pharmova Limited
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Pharmaceutical Manufacturing Market Variables, Trends & Scope
Chapter 4. Pharmaceutical Manufacturing: Molecule Type Estimates & Trend Analysis
Chapter 5. Pharmaceutical Manufacturing: Drug Development Type Estimates & Trend Analysis
Chapter 6. Pharmaceutical Manufacturing: Formulation Estimates & Trend Analysis
Chapter 7. Pharmaceutical Manufacturing: Route of Administration Estimates & Trend Analysis
Chapter 8. Pharmaceutical Manufacturing: Therapy Area Estimates & Trend Analysis
Chapter 9. Pharmaceutical Manufacturing: Prescription Estimates & Trend Analysis
Chapter 10. Pharmaceutical Manufacturing: Age Group Estimates & Trend Analysis
Chapter 11. Pharmaceutical Manufacturing: Sales Channel Estimates & Trend Analysis
Chapter 12. Pharmaceutical Manufacturing Market: Regional Estimates & Trend Analysis
Chapter 13. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/nuz8ja
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