Pharmaceutical Continuous Manufacturing Market Expected to Reach $855 Million by 2026 With Key Development In Process By Eli Lilly and Company, Bosch Packaging Technology, Coperion GmbH, GEA Group
Pune, Maharashtra, India, December 4 2020 (Wiredrelease) Allied Analytics –:Increase in demand for continuous manufacturing systems across various geographies and rise in popularity of integrated continuous manufacturing system significantly contribute toward the growth of the global market. Furthermore, increase in initiatives taken by the Food and drug Administration (FDA) for promoting the use of pharmaceutical continuous manufacturing systems for modernizing pharmaceutical manufacturing process is expected to boost the market growth in the coming years.
” Pharmaceutical Continuous Manufacturing Market, by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the global pharmaceutical continuous manufacturing market was valued at $393 million in 2018, and is expected to reach $855 million by 2026, growing at a CAGR of 10.2% from 2019 to 2026.
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Rise in government support for continuous manufacturing adoption and increase in adoption of pharmaceutical continuous manufacturing systems fuel the growth of the global pharmaceutical continuous manufacturing market. However, poor demand from underdeveloped countries hinders the market growth. On the other hand, untapped potential from emerging countries create number of opportunities in the industry.
The key players profiled in this report include Bosch Packaging Technology, Coperion GmbH, GEA Group AG, Gebrüder Lödige Maschinenbau GmbH, Glatt GmbH, Hosokawa Micron Corporation, Korsch AG, L.B. Bohle Maschinen + Verfahren GmbH, Munson Machinery Company, Inc., and Thermo Fisher Scientific Inc.
Continuous manufacturing is an advanced manufacturing approach to provide pharmaceutical products with enhanced quality, improved yield, reduced cost within shorter time period. Pharmaceutical continuous manufacturing market is expected to witness significant grow growth during the forecast period, due to increase in adoption of continuous manufacturing systems over the existing drug manufacturing process, technological advancements, initiatives taken by the Food and drug Administration (FDA) for promoting the use of pharmaceutical continuous manufacturing for modernizing pharmaceutical manufacturing, and advantage over the batch manufacturing.
Based on product, the integrated continuous systems segment contributed more than two-thirds of the total share of the global pharmaceutical continuous manufacturing market in 2018, and is expected to maintain its lead position during the forecast period. Moreover, this segment is expected to register the highest CAGR of 11.0% from 2019 to 2026. This is due to surge in adoption of integrated continuous manufacturing (ICM) process over the existing drug manufacturing processes, technological advancements, and availability of ICM systems. The research also analyzes the segment including semi-continuous systems and control or software.
Based on application, the final drug product manufacturing segment held the highest market share of the global pharmaceutical continuous manufacturing market, contributing to nearly two-thirds of the total market share in 2018, and is expected to maintain its dominance in terms of revenue during the forecast period. This is due to surge in adoption of continuous manufacturing systems for production of final drugs, rise in number of pharmaceutical companies, and innovations in healthcare infrastructure. However, the API manufacturing segment is expected to register the highest CAGR of 11.7% from 2019 to 2026. This is due to rise in number of approved drugs produced by continuous processes.
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Based on region, North America accounted for the largest market share in terms of revenue, contributing to more than one-third of the global pharmaceutical continuous manufacturing market in 2018, and is projected to lead in terms of revenue during the forecast period. This is due to presence of well-established infrastructure of the pharmaceutical industry, high adoption of advanced technologies, and wide availability of advanced pharmaceutical continuous manufacturing systems. However, Asia-Pacific is estimated to maintain the highest CAGR of 11.5% from 2019 to 2026, owing to growth in awareness regarding advanced pharmaceutical continuous manufacturing systems, surge in number of pharmaceutical companies, and increase in demand for continuous manufacturing systems in the region.
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