The market for pharmaceutical manufacturing is expected to grow at a CAGR of around 15.9% from 2020 to 2027 and expected to reach the market value of around US$ 1,014.5 Bn by 2027.
Pharmaceutical manufacturing comprises the physical process of manufacturing pharmaceutical drugs. The process includes blending, compression, filtration, heating, encapsulation, shearing, tableting, granulation, coating, and drying. Pharmaceutical manufacturing is said to be a conservative business with low readiness and appetite for changes, assuming risks or embarking on new technological strategies and approaches. Pharmaceutical manufacturing has evolved with the increased focus on science and engineering principles.
The increasing spending in the pharmaceutical R&D sector along with the advancements in pharmaceutical manufacturing technologies is driving the market growth. For instance, the FDA’s Center for Drug Evaluation and Research (CDER) has approved 46 new molecular entities (NMEs) in 2017 and the entities number got doubled in 2016. The rising focus on the healthcare needs of emerging nations across the globe is bolstering the market value. The growing geriatric population and incidence rate of chronic disorders due to changing lifestyle is further propelling the market value. Furthermore, the increasing number of clinical trials along with the increasing investment and funding programs across the pharmaceutical manufacturing industry is projected to create potential opportunities over the forecast perio0d from 2020 to 2027.
On the other side, patent expiration of most profitable drugs and pricing pressures on pharmaceutical companies is estimated to hinder the growth to an extent over the forecast period from 2020 to 2027.
Segment Instance of Pharmaceutical Manufacturing Market
Oral route of Administration is having potential share in the Pharmaceutical Manufacturing Market
In 2019, the oral segment by route of administration is leading the market with maximum revenue share. The benefits associated with the oral dosage of drugs like affordability, ease of manufacturing, and patient-friendly among others is contributing to the segmental market value. The advancement in the drug delivery technology for oral administration of drugs like sustained release dosage formulations and targeted drug delivery is further bolstering the segmental market value.
North America accounted for the maximum revenue share in the Pharmaceutical Manufacturing market
In 2019, North America is leading the pharmaceutical manufacturing market with maximum revenue share (%), and the region along with its major economies projected to continue with the dominance over the estimated period from 2020 to 2027. The presence of major players and the well-established healthcare sector in the region is supporting its dominance. Additionally, the presence of a high-income population which is spending on their health is another factor giving momentum to the market value.
Asia Pacific is estimated to experience fastest growth over the forecast timeframe from 2020 to 2027
The rapidly developing pharmaceutical sector of the developing economies of the region is primarily supporting the market growth. The COVID-19 pandemic has also given traction to the regional market value, as the developing economies including India and China have invested their time and money for the development of vaccination in large quantity which is another consideration for the regional market growth. The increasing number of regional players along with the rising focus of major global players towards the developing markets of the region is additionally proliferating the regional market value.
Key Market Players
The players profiled in the report include AstraZeneca, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Johnson & Johnson, Lonza, Merck & Co. Inc., Novartis AG, Pfizer, Inc., Sanofi SA and others.
Market By Formulation
Market By Route of Administration
Other Routes of Administration
Market By Prescription
Over-the-counter (OTC) Medicines
Market By Drug Development
Market By Distribution Channels
Market By Geography
Middle East & Africa
The market for pharmaceutical manufacturing is expected to reach a market value of around US$ 1,014.5 Bn by 2027.
The pharmaceutical manufacturing market is expected to grow at a CAGR of around 15.9% from 2020 to 2027.
Oral is the leading segment by route of administration in the pharmaceutical manufacturing market
The increasing spending in the pharmaceutical R&D sector, the advancements in pharmaceutical manufacturing technologies, rising focus towards healthcare needs of emerging nations, growing geriatric population, and incidence rate of chronic disorders are some of the major factors driving the market growth.
AstraZeneca, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Johnson & Johnson, Lonza, Merck & Co., Inc., Novartis AG, Pfizer, Inc., and Sanofi SA are some of the prominent players in the market.
North America held the highest market share in the pharmaceutical manufacturing market
Asia Pacific is expected to be the fastest growing market over the forecast period