WASHINGTON, Oct. 10, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the Pharmaceutical Manufacturing Market is poised for growth due to various factors, such as the increase in demand for pharmaceutical products, advancements in technology, and a rise in cases of chronic disorders.
According to Vantage Market Research, the Global Pharmaceutical Manufacturing Market is estimated to be valued at USD 863.6 Billion by 2030 and is expected to exhibit a CAGR of 7.8% from 2023 to 2030. The global Pharmaceutical Manufacturing market grew to USD 510.5 Billion in 2022.
Pharmaceutical Manufacturing involves numerous processes, including research & development, formulation, quality control testing, packaging, and distribution. It requires specialized facilities that comply with stringent regulations & standards to ensure product safety and efficacy. Quality control and regulatory compliance levels are crucial to ensure safe and effective drug production.
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Key Highlights
- By Drug Development Type, the Outsource segment contributed over 54.3% of the total revenue share 2022.
- By Molecule Type, the conventional drugs (small molecules) segment is expected to witness maximum market growth over the projected period.
- North America led the market in 2022, contributing 42.30% of total revenue.
- The Asia Pacific region is anticipated to witness a significant market growth in the forecast period.
The Pharmaceutical Manufacturing market is highly regulated, with strict quality standards and regulations to ensure drug safety and efficacy. Regulatory bodies, such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), are essential in approving and monitoring pharmaceutical products.
Top Companies in The Global Pharmaceutical Manufacturing Market
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Novartis AG (Switzerland)
- GlaxoSmithKline PLC (UK)
- Pfizer Inc. (U.S.)
- Merck & Co. Inc. (U.S.)
- AstraZeneca (UK)
- Johnson & Johnson (U.S.)
- Sanofi SA (France)
- Eli Lilly and Company (U.S.)
- AbbVie Inc. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Wuxi Apptec (China)
- Samsung Biologics (South Korea)
- FUJIFILM Diosynth Biotechnologies U.S.A. Inc. (U.S.)
- Lonza Group AG (Switzerland)
- Catalent Pharma Solutions (U.S.)
- Jubilant Pharmova Limited (India)
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Factors affecting the growth of the Pharmaceutical Manufacturing Industry
There are several factors that can affect the growth of the Multiple Sclerosis Drugs industry. Some of these factors include:
- Research and Development (R&D) capabilities: The capability to conduct innovative research and develop new drugs and therapies is a key factor for the pharmaceutical industry's growth. Companies with robust R&D capabilities can bring innovative and effective drugs to market, fueling growth.
- Regulatory environment: Government regulations play a major role in the pharmaceutical industry. Stringent regulatory requirements can impact the time and cost of bringing novel drugs to market. A favorable regulatory environment promoting efficient clinical trial processes and faster drug approvals can expand the industry.
- Healthcare spending: Healthcare spending by governments, private insurers, and individuals significantly impacts the demand for pharmaceutical products. Increased healthcare spending can fuel industry growth, indicating high healthcare needs and investments in medications and treatments.
- Technological advancements: Advancements in technology, like automation, AI, and data analytics, can drive innovation and efficiency in Pharmaceutical Manufacturing processes. Technological advances can improve drug discovery, development, manufacturing, and distribution, leading to industry development.
Top Trends in the Global Pharmaceutical Manufacturing Market
Generic drugs that are cost-effective alternatives to their branded counterparts are observing strong demand worldwide. In emerging markets like India, generic drugs dominate the pharmaceutical market. For instance, generic pharmaceuticals dominate India's retail market, accounting for 70 to 80% of it due to their inexpensive cost as a substitute for branded medications. Given that generic medications are just as effective and affordable as branded medications, their need has considerably augmented as India's population ages and grows. Moreover, biopharmaceuticals derived from living organisms are gaining significant traction in Pharmaceutical Manufacturing. For instance, Moderna and Pfizer-BioNTech developed COVID-19 vaccines using bio Pharmaceutical Manufacturing processes.
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Recent Development of the Global Pharmaceutical Manufacturing Market
- In June 2023, Pfizer and Samsung Biologics announced a strategic alliance for the long-term commercial manufacturing of Pfizer’s extensive product portfolio. In March 2023, Samsung Biologics and Pfizer agreed to an initial manufacturing agreement for a Pfizer product. Pfizer will receive additional large-scale manufacturing capacity from Samsung Biologics to support its multi-product biosimilar portfolio that addresses inflammation, immunology, and oncology.
- In March 2023, Eli Lilly and Company invested $1.5 billion in new manufacturing facilities. On March 27, 2023, Lilly executives and local authorities broke ground for their brand-new, cutting-edge biotech manufacturing campus in Raheen, Co. Limerick, Ireland. With this over $1 billion investment in its next-generation biotech plant, Lilly will have the most advanced manufacturing facility for its current monoclonal antibodies. Until 2026, this facility will manufacture the company's current products and pipeline clinical products.
Market Drivers
The global elderly population base and the growing occurrence of chronic diseases are driving the demand for pharmaceutical products. According to the WHO, the world population aged 60 years or older is estimated to double by 2050, resulting in a high demand for medication to treat age-related conditions. Furthermore, worldwide healthcare expenditure is expanding due to population growth, increasing insurance coverage, and advancements in healthcare infrastructure. This leads to a higher need for pharmaceutical products, which, in turn, propels the Pharmaceutical Manufacturing market growth. According to the WHO, the sharp rises in government health spending across all income levels led to an increase in health spending to a new high of US $9 trillion (nearly 11% of global GDP).
Market Restraints
The pharmaceutical industry operates under strict regulations and standards imposed by regulatory bodies like the Food and Drug Administration in the United States and the European Medicines Agency (EMA) in Europe. These regulations ensure the safety, efficacy, and quality of pharmaceutical products. However, compliance with these regulations often needs significant investments in research, development, testing, and manufacturing processes, limiting market entry for small & medium-sized enterprises.
Market Opportunities
The Pharmaceutical Manufacturing industry is witnessing technological advancements such as 3D printing, artificial intelligence, and automation. These technologies can improve efficiency, minimize errors, and reduce production costs. Pharmaceutical manufacturers can leverage these technologies to streamline manufacturing processes and improve productivity.
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on Pharmaceutical Manufacturing Market Forecast Report (2023-2030).
Report Segmentation of the Global Pharmaceutical Manufacturing Market
Molecule Type Analysis
The conventional drugs (small molecules) segment is anticipated to exhibit significant market growth within the projected timeframe. The segment is driven by a growing demand for healthcare services worldwide and an increasing prevalence of chronic diseases. Conventional drugs are typically produced through a complex manufacturing process, ensuring strict quality control and adherence to regulatory guidelines. The segment is highly competitive, with major pharmaceutical companies continually investing in research and development to develop innovative and effective medications.
Drug Development Analysis
The global Pharmaceutical Manufacturing market is witnessing a significant rise in the outsourcing of drug production. This trend is driven by cost-effectiveness, increased efficiency, and access to specialized expertise. Companies increasingly leverage outsourcing to reduce manufacturing costs, focus on core competencies, and meet the growing demand for innovative drugs. Additionally, outsourcing allows pharmaceutical manufacturers to access facilities and technologies they may not possess in-house, enhancing their overall market competitiveness.
Formulation Analysis
The tablet segment dominated the Pharmaceutical Manufacturing market. Tablets are among the most popular and convenient drug delivery systems, favored by healthcare professionals and patients. The high cases of chronic diseases and the growing aging population drive the demand for tablet-based medications. Further, advancements in tablet manufacturing technologies, such as high-speed automated production lines and improved packaging techniques, are improving the efficiency and quality of tablet production, fueling market growth.
Route of Administration Analysis
The oral segment is predicted to grow largest during the forecast period. The oral segment, which includes tablets, capsules, and oral liquids, is vital to this market. The popularity of oral medications can be attributed to their ease of administration and patient convenience. Additionally, drug formulation and delivery technology advancements have developed innovative oral dosage forms. As a result, the oral segment is expected to continue growing in the coming years, driving the overall growth of the global Pharmaceutical Manufacturing market.
Therapy Area Analysis
The cancer segment in the global Pharmaceutical Manufacturing market is observing higher growth due to the rising prevalence of cancer worldwide. Increased research and development efforts have led to the introduction of innovative and effective cancer treatments, driving the demand for Pharmaceutical Manufacturing. Additionally, advancements in technology and personalized medicine approaches have further contributed to expanding the cancer segment in the market. With increasing investments in oncology drugs and therapies, the global Pharmaceutical Manufacturing market will likely grow in the coming years.
Prescription Analysis
The prescription medicines segment in the global Pharmaceutical Manufacturing market is a vital and lucrative sector. Prescription medicines are drugs that require a prescription from a licensed healthcare professional. This segment includes various medications for treating various disorders and conditions. The increasing prevalence of chronic disorders, aging populations, and medical research and technology advancements drive the demand for prescription medicines. As a result, pharmaceutical manufacturers focus heavily on producing high-quality and effective prescription medicines to meet the growing demand worldwide.
Age Group Analysis
The geriatric segment in the global Pharmaceutical Manufacturing market is rapidly growing. With the aging population worldwide, the demand for pharmaceutical products designed for elderly patients is increasing. Pharmaceutical companies are developing and manufacturing drugs that cater to the unique needs of the geriatric segment, such as medications for chronic diseases, pain management, and cognitive health. As a result, this segment is expected to contribute significantly to the global Pharmaceutical Manufacturing market growth.
Sales Channel Analysis
The retail segment is dominating the global Pharmaceutical Manufacturing market. This segment involves distributing and selling pharmaceutical products directly to consumers through pharmacies and drug stores. The retail segment is crucial in providing individuals access to essential medications and healthcare products worldwide. With the increasing demand for quality pharmaceuticals and consumer health products, the retail segment is expected to grow significantly in the global Pharmaceutical Manufacturing market, offering convenience and affordability to consumers.
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Market Segmentation
By Molecule Type
- Biologics & Biosimilars (Large Molecules)
- Monoclonal Antibodies
- Vaccines
- Cell & Gene Therapy
- Other Monoclonal Antibodies
- Conventional Drugs (Small Molecules)
By Drug Development Type
- In-house (Forecast Period)
- Outsource (Dominating 54.3%)
By Formulation
- Tablets
- Capsules
- Injectable
- Sprays
- Suspensions
- Powders
- Other Formulations
By Therapy Area
- Cardiovascular Diseases (CVDs)
- Pain
- Diabetes
- Cancer
- Respiratory Diseases
- Other Diseases
By Prescription
- Prescription Medicines
- Over-the-counter (OTC) Medicines
By Age Group
- Children & Adolescents
- Adults
- Geriatric
By Sales Channel
- Retail
- Non-retail
By Route of Administration
- Oral
- Topical
- Parenteral
- Inhalations
- Other Routes of Administration
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 510.5 Billion |
| Revenue Forecast by 2030 | USD 863.6 Billion |
| CAGR | 7.8% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | F. Hoffmann-La Roche Ltd., Novartis AG, GlaxoSmithKline PLC, Pfizer Inc., Merck & Co. Inc., AstraZeneca, Johnson & Johnson, Sanofi SA, Eli Lilly and Company, AbbVie Inc., Thermo Fisher Scientific Inc., Wuxi Apptec, Samsung Biologics, FUJIFILM Diosynth Biotechnologies U.S.A. Inc., Lonza Group AG, Catalent Pharma Solutions, Jubilant Pharmova Limited |
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Regional Analysis
In 2022, North America dominated the global Pharmaceutical Manufacturing market with 42.3% of revenue share. The market is driven by factors such as the aging population, rising incidence of chronic diseases, and technological advancements. The United States is the leading market for Pharmaceutical Manufacturing in North America, accounting for a significant share of the total market. This can be attributed to a high patient population, a robust healthcare infrastructure, and a strong focus on research and development. In recent years, there has been a shift towards contract manufacturing and outsourcing in the pharmaceutical industry. This is mainly because of the cost-saving measures and increased focus on core competencies. Contract manufacturing organizations (CMOs) are essential in the North American Pharmaceutical Manufacturing market, offering specialized services to pharmaceutical companies.
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