Pharmaceutical Manufacturing Industry Forecast, 2030 | A ~$930 Billion Opportunity | Personalized Medicine Sparks Supply Chain Transformation to Accommodate Individualized Patient Care

24 Aug 2023
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DUBLIN, Aug. 24, 2023 /PRNewswire/ -- The "Pharmaceutical Manufacturing Industry Forecast, 2023-2030" report has been added to
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The global pharmaceutical manufacturing market is on a trajectory of significant growth, with an expected size of USD 929.9 billion by 2030. This growth is driven by several factors, including technological advancements, cost-effective methods, and increased investments in the pharmaceutical industry. The market is projected to grow at a Compound Annual Growth Rate (CAGR) of 7.63% from 2023 to 2030.
Key Factors Driving Growth:
Technological Advancements: The integration of robotic technology and Artificial Intelligence (AI) has enhanced efficiency and productivity in pharmaceutical manufacturing processes. These technologies have reduced downtime on the manufacturing floor and minimized product waste.
Single-Use Disposable Solutions: The adoption of single-use disposable solutions has streamlined operations and lowered the risk of contamination. This shift has replaced traditional open-transfer manufacturing methods.
Data-Rich Paperless Operations: The industry has embraced integrated, smart, and data-rich paperless operations, leading to precise and error-free production processes. This trend ensures the production of high-quality pharmaceutical products.
Personalized Medicine: The development of personalized medicine has revolutionized healthcare by offering tailored treatments for individual patients. This shift has prompted manufacturers to adjust their supply chains to cater to smaller batches and patient-centric healthcare models.
Strategic Initiatives by Key Players: Leading pharmaceutical companies are actively engaging in product development, collaboration, partnerships, business expansion, and mergers and acquisitions to strengthen their market presence and meet growing demand.
Market Highlights:
Conventional Drugs (Small Molecules): In 2022, the conventional drugs segment accounted for a significant revenue share, driven by the easy availability and high market penetration of small molecule products.
Outsourcing: The outsourcing segment dominated the market in 2022 due to the various benefits associated with outsourcing operations, driving growth in this segment.
Tablets: The tablets segment led the market with a considerable revenue share in 2022, attributed to the wide availability of tablet-based products with different formulations.
Oral Dosage Forms: The oral segment dominated the global market due to affordability, ease of manufacturing, and patient-friendly nature of oral dosage forms.
Prescription Medicines: Prescription medicines accounted for a substantial revenue share in 2022 and are expected to continue growing due to increasing prescription drug expenditures globally.
North America: North America led the market in 2022, driven by strategic pharmaceutical partnerships and collaborations, especially among established and early-stage companies in the region.
In summary, the global pharmaceutical manufacturing market is experiencing significant growth due to technological advancements, personalized medicine, and strategic initiatives by key players. Technological integration, the adoption of disposable solutions, and data-rich operations are enhancing efficiency and quality in pharmaceutical manufacturing. Additionally, the shift towards patient-centric healthcare models is prompting manufacturers to adjust their supply chains. With North America as a frontrunner, the pharmaceutical manufacturing market is poised for continued expansion over the forecast period.
Key Attributes
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
Lonza
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/5b113f
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Organizations
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