Pharmaceutical Manufacturing Market Size, Share, Future Growth Insights By 2027

The global pharmaceutical manufacturing market size is expected to reach USD 908.53 billion by 2027, expanding at a CAGR of 13.74% according to a new report by Grand View Research, Inc. The pharmaceutical firms have implemented cloud technology to increase operational efficiency across R&D and manufacturing processes. This technology has led to the generation of consolidated and standardized data that reduces complexities and inefficiencies, which speeds up the process of drug development. Thus, the implementation of cloud technology and artificial intelligence is expected to drive the market.

Longer life expectancies and a rise in the geriatric population has spurred the demand for pharmaceutical products to treat several chronic disorders. These factors have also prompted many individuals to use medications to improve the quality of life and wellness, globally. In addition, the emergence of new pandemics, viruses, and drug-resistant infections has provided potential avenues to pharmaceutical manufacturers to accelerate their drug production.

Several drug developers have shifted their preferences towards continuous manufacturing approaches to minimize the costs incurred in making a product, overcome medicine shortages, and improve efficiencies. For instance, in August 2019, GlaxoSmithKline plc opened two continuous manufacturing facilities in Singapore with an investment of USD 95.6 million. This initiative is expected to boost the company’s drug development in minimal production timelines.

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Pharmaceutical Manufacturing Market Report Highlights

• In-house drug development accounted for the largest revenue share of more than 50.0% in 2019 due to continuous efforts undertaken by the key players to expand their manufacturing capacities for therapeutics
• Tablets held the maximum revenue share in 2019 owing to wide acceptance by physicians and patients, ease of manufacturing, and easy formulation process of tablets with desired drug properties
• The advent of pre-filled syringes and auto-injectors is expected to drive the parenteral segment with the fastest growth rate during the forecast period
• Increase in awareness and growth in the demand for early cancer diagnosis has resulted in the development of oncology drugs at a large scale globally
• Over-the-Counter (OTC) medicines segment are anticipated to grow at a lucrative pace throughout the forecast period due to the continuous transition from prescription to OTC
• This shift from prescription medicines to OTC medicines has potentially benefitted the patients both financially and in terms of better health
• The children and adolescents segment is expected to grow at the fastest rate due to the presence of supportive government initiatives that encourage pediatric studies
• The Pediatric Research Equity Act and Best Practices for Children Act are among the few initiatives of the FDA that focus on the development of drugs for children
• Retail sale channels held the maximum revenue share as a large percentage of individuals use a retail pharmacy as their one-stop-shop for pharmaceutical products
• North America dominated the market in terms of revenue share as the U.S. market represents the largest pharmaceutical industry with a substantial number of drug manufacturers
• Key players operating in this market have undertaken several growth initiatives to expand production facilities
• For instance, in January 2020, Novartis stated about its decision to collaborate with NHS England to improve the manufacture of oligonucleotide cardiovascular drugs in the UK.

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Pharmaceutical Manufacturing Market Segmentation

Grand View Research has segmented the global pharmaceutical manufacturing market on the basis of drug development type, formulation, route of administration, therapy area, prescription, age group, distribution channel, and region:

Pharmaceutical Manufacturing Drug Development Type Outlook (Revenue, USD Billion, 2016 - 2027)

• Outsource
• In-house

Pharmaceutical Manufacturing Formulation Outlook (Revenue, USD Billion, 2016 - 2027)

• Tablets
• Capsules
• Injectable
• Sprays
• Suspensions
• Powders
• Other Formulations

Pharmaceutical Manufacturing Route of Administration Outlook (Revenue, USD Billion, 2016 - 2027)

• Oral
• Topical
• Parenteral
• Inhalations
• Other Routes of Administration

Pharmaceutical Manufacturing Therapy Area Outlook (Revenue, USD Billion, 2016 - 2027)

• Cardiovascular Diseases
• Pain
• Diabetes
• Cancer
• Respiratory Diseases
• Other Diseases

Pharmaceutical Manufacturing Prescription Outlook (Revenue, USD Billion, 2016 - 2027)

• Prescription Medicines
• Over-the-counter (OTC) Medicines

Pharmaceutical Manufacturing Age Group Outlook (Revenue, USD Billion, 2016 - 2027)

• Children & Adolescents
• Adults
• Geriatric

Pharmaceutical Manufacturing Distribution Channel Outlook (Revenue, USD Billion, 2016 - 2027)

• Retail
• Non-retail

Pharmaceutical Manufacturing Regional Outlook (Revenue, USD Billion, 2016 - 2027)

• North America
• The U.S.
• Canada
• Europe
• Germany
• The U.K.
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Latin America
• Brazil
• Mexico
• Middle East Africa (MEA)
• South Africa
• Saudi Arabia

List of Key Players of Pharmaceutical Manufacturing Market

• F. Hoffmann-La Roche Ltd.
• Novartis AG
• GlaxoSmithKline plc
• Pfizer, Inc.
• AstraZeneca
• Merck & Co., Inc.
• Johnson & Johnson
• Sanofi SA
• Eli Lilly and Company
• Lonza

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com